Jefferson City High-Asset Divorce Lawyers

Marital assets are items acquired during the marriage which do not meet the definition of non-marital property. High-asset divorce cases involve substantial assets and wealth. High-asset divorces, by their very nature, are frequently contentious. Substantial sums of money are involved. These unique cases require attention, commitment and experience.  

Complex Asset Division

The complexity of the asset division depends on the assets. High-asset cases exceed a million dollars and may include one or more of the following:

• Business interests, including closely held corporations, limited liability companies, joint ventures, partnerships, and sole proprietorships;
• Large farming operations, both cattle and crop, and possibly multiple tracts of real estate;
• Investment and retirement accounts;
• Real estate holdings, including commercial and residential properties;
• Prenuptial agreements, including disputes as to the validity of the prenuptial agreement.

Our clients in high-asset divorce cases include, but are not limited to:

• Business owners;
• Farmers;
• Heirs and beneficiaries of significant asset transfers;
• Professionals, such as doctors, dentists, lawyers, pharmacists, etc.;
• Savvy investors.

Business Valuations

Valuing a business is a complex process. We will work to obtain the financial information for the business to assist us in our valuation. We may need to employ one or more experts to assist in valuing the business. The nature of the expertise required depends on the type of business.

Real Estate Holdings

Valuing real estate may require us to employ one or more experts, including an appraiser. The value of real estate today is generally greater than the value of the real estate at the time it was purchased. Valuing real estate is important to help determine equity. A spouse will likely have a marital interest in the equity.

Commingling of Marital and Non-Marital Property

High-asset divorce cases may involve situations where non-marital property is commingled with marital property. Individuals with substantial assets may have acquired wealth prior to the marriage. Some of that wealth may have been used as capital in acquiring one or more marital assets. Determining the contributions used to purchase the property is important.

Hidden Assets

Sometimes a spouse may not know all the assets of the marriage. Or a spouse may have intentionally kept accounts or assets secret or separate. Assets may have been transferred without a spouse’s knowledge. Discovering hidden assets becomes important to ensure that one spouse does not profit to the detriment of the other.

Complex Child Support

A court calculates child support based on the gross income of the parents. Some spouses are self-employed. A spouse may attempt to hide money within the business, particularly if large sums of money are received at any one time. A self-employed individual may utilize cash transactions to avoid disclosing or reporting income. The business may have income fluctuations depending on the type of business. Determining the earnings of a self-employed spouse requires more work than if the individual was employed by a business receiving a paycheck or a W2.

Spousal Maintenance

Maintenance, which some people refer to as alimony, is money paid by one spouse to another as financial support. There is often a disparity in the income between spouses in high-asset divorces; one spouse generally earns significantly more money than the other.  In these situations, maintenance is frequently an issue.  One spouse may need financial support to continue to meet his or her reasonable needs. Or, the higher wage earner wants to avoid paying maintenance, minimize the dollar amount to be paid, or limit the duration of the maintenance to be paid.

Challenging the Prenuptial Agreement

Spouses may have signed a prenuptial agreement before the marriage. Is the prenuptial agreement valid? A spouse may want to challenge the prenuptial agreement. Challenges to prenuptial agreements are time intensive. Such challenges may require a separate court hearing to address the validity of the prenuptial agreement.

Tax Implications

High-asset divorce may have tax consequences. Hiring an expert may be necessary to ensure that all tax considerations have been addressed.

Mediation is an Option

Mediation is a way to resolve one or more disputes without having a trial. Mediation is particularly helpful when large sums of money are involved, but it can also be used in addressing high-conflict child custody cases.

Helps to Work with an Experienced High Assets Divorce Lawyer

Scott is experienced in representing clients with high-value asset divorces and complex asset divisions.  High-asset and complex asset divorces have unique issues. Scott has litigated, mediated and settled numerous cases involving all of these issues described above. There is no substitute for experience.  Contact Scott today at (573) 821-4103 to schedule your consultation to assist you with your case.