Almost every divorce involves similar issues regarding property division, child custody, child support, and alimony. When there is a significant amount of assets involved in the divorce, however, these issues can quickly become more complex. A Forsyth County high-asset divorce lawyer might be help to help you navigate the nuances of these negotiations during a dissolution of marriage.
These types of divorces can be more complicated for several reasons. For example, there may or may not be a prenuptial or postnuptial agreement involved. Furthermore, it can also be difficult to identify all available assets that could be discussed, especially if one party attempts to keep them hidden. An experienced divorce attorney could, therefore, help by working tirelessly to assess the value of all property, income, and other assets in order to protect your rights.
Any split involves the division of property, assets, and debts, as well as the consideration of spousal support, but there are some issues that are specific to high-asset divorces. Some of the most common issues include:
Understanding and navigating these issues can be difficult, especially for someone who is not prepared or not represented. A skilled Forsyth County attorney who is familiar with high-asset divorces could help to explain each of these elements to their client.
One common issue faced by parties involved in a high-asset divorce is identifying the scope of all assets that are involved. Before property can be divided between the parties, it must be identified. Particularly in high-value divorces, one spouse may be tempted to hide assets.
At the beginning of the discovery process each party will make voluntary disclosures. During this time, it is important for a person to inspect this disclosure for any omissions and look for any hidden property. If a person suspects their spouse is hiding certain assets, they can make a formal request for financial information—known as interrogatories. Their spouse is then legally obligated to respond to these interrogatories truthfully under oath within a specified timeframe. A person can also demand documents—such a tax refunds and bank records—that can help ensure all assets are being disclosed.
Depositions are another tool that can be used to discover items or other assets that a spouse may be attempting to keep hidden. Depositions are sworn testimony taken in front of a court reporter that can later be used in court. Due to the numerous legal avenues that might have to be taken in order to ensure a proper division of assets is being met, anyone engaged in this process might benefit from the counsel of a seasoned Forsyth County high-asset divorce attorney.
One of the most important things a person can do to protect their assets is to plan. A prenuptial agreement is a contract entered into by the parties prior to marriage and may be the best way to protect one’s property, debts, and other items in the event of a divorce. Parties that entered into a marriage without a prenup can still enter into a postnuptial agreement.
Whether you are concerned your spouse is hiding assets or you are looking for the best way to protect your own assets, a Forsyth County high-asset divorce lawyer may be able to help you.
Because these situations come with many complex issues that go above and beyond a typical divorce, having the skill and experience of a well-versed attorney could be essential to a beneficial outcome. Contact a legal professional today to discuss your individual circumstances.