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COMPLEX/HIGH-ASSET DIVORCE

Posted by Michelle Dellino | Mar 07, 2016 | 0 Comments

High asset divorce mistakes

Each divorce comes with its own set of emotional struggles and financial risks and you should never try to tackle them alone. No matter what your financial situation, is essential that you work with an experienced family law attorney who will advise you assertively and effectively and ensure all aspects of the process are addressed appropriately.

Divorce cases that involve substantial assets and high-net-worth are even more complex, with so much at stake. If you have a complex or sizeable estate, it is vital that your legal counsel is experienced and equipped in this area. Your attorney must be prepared to protect your interests, understanding the multifaceted nature of your situation and all of the potential implications.

Some of the issues to consider include:

  • Characterization & Valuation of Assets:  Before division and protection of assets can be determined, these assets must be characterized and valued. In high-net-worth divorces, this can be complex, with the consideration of real estate, retirement accounts, stocks, bank accounts, business assets, and more. This must be handled carefully and accurately.
  • Business assets:  In many high-asset divorces, business interests are a key component of the estate.  Business assets may come in the form of ownership, shares, or another type of business interest. This is an important sub-category, in terms of characterization and valuation, where it will be essential to ensure the wealth is accurately valued.
  • Consulting with Experts: In determining value of assets for property division purposes, your attorney must be prepared to consult with a multitude of experts. We have an extensive network of experts with whom we regularly consult. These experts include real estate appraisers, intellectual property specialists, pension evaluators, business evaluators, tax specialists, and more.
  • Taxes:  It will be critical for your family law attorney to pay careful attention to tax issues when advocating for you in your high-asset divorce case. Property distribution, spousal maintenance, and child support may substantially influence tax payments. It is important to understand how payment structures may impact things, and how to adjust the structure appropriately to promote and protect your best interests.
  • Privacy & Confidentiality:  When substantial wealth is involved, people often get particularly concerned about privacy and confidentiality. We respect your right to privacy and will always maintain confidentiality to the degree it is legally possible.
  • Assets overseas: If any part of your estate is located in another state or country, it adds another layer of complexity. Your family law attorney must be prepared to look critically and in-depth at what this means, potential tax implications or penalties, and how it factors in to division of assets.
  • Spousal Maintenance & Child Support: These are often a significant and contentious issues which must be negotiated skillfully. We recognize the multiple factors that may influence these issues and we are prepared to litigate appropriately for your individual situation.

Legal Representation:

Our family law attorneys at Dellino Law Group are highly knowledgeable and experienced in these and many other topic areas that inform top quality legal representation in high asset divorce cases.  Strong advocacy and complex strategizing are among our specialties, and we have the expertise and resources to help you reach the best possible outcome in your case. We recognize the high-stakes, complex nature of this type of divorce proceeding and your protection and best interests are our priority. Please contact us today for a consultation.

About the Author

Michelle Dellino

Michelle Dellino is the Managing Attorney of Dellino Law Group. She believes there is a solution to every problem. Her practice focuses primarily on complex family law matters including high asset dissolutions; high conflict cases; long term marriage dissolution; cases involving business owners, IT, and medical professionals; domestic violence family law; and preparing cohabitation, prenuptial, and postnuptial agreements. Favorite things include: multi-tasking, competition, travel, baseball, technology, a big view of the Olympic Mountains, and the outdoors. Primary dislikes include: Chinese food, passive aggression and apathy. Also: owned by trio of dachshunds, 2 cats & 1 big dog.

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