High Asset Divorce in DC

A high asset divorce in DC means at least one party has an extremely high net worth. These kinds of cases often involve substantial assets, which may include investments, numerous real properties,  business interests and even intellectual property.

A high asset divorce will be the same as any other divorce in that it will have to determine all the same types of issues before a final divorce decree can be entered. However, the analysis and ultimate division of marital assets in a high asset divorce is typically far more complicated due to a number of factors.

These kinds of cases often involve appraisals, business valuations, tax analyses and other complex analyses. Contact a distinguished divorce lawyer who can explain the complexities of your case and help you proceed with your future.

Common High Asset Divorce Issues

It is very common that an individual with an extremely high net worth is faced with a former spouse or a soon-to-be-former spouse seeking extremely high and permanent alimony payments. Because one spouse appears to have the ability to provide ongoing financial support, they may receive a request for an extremely high and potentially indefinite alimony payment.

It may be difficult to determine the value of all assets in a high asset divorce in DC. Accounts like money market accounts, the value of which changes depending on the market, or a pension or retirement account, the value of which is dependent on some future situation that can be extremely hard to determine, and can lead to a long, protracted legal battle about what those assets are actually worth, before one even gets into how these assets should be equitably divided.

What Impact does Co-Mingling have on Asset Issues?

There are also often issues with co-mingling when your spouse had access to any of your accounts, and in determining separate property and marital property, which will then have to be evaluated and divided. The bottom line is that the more assets there are to fight over and the more complicated those assets are, the longer and more drawn out the division of the marital assets will be. This is particularly true also if one or both sides have the resources that will enable them to continue to pay their attorneys to fight about the division of those assets.

Identifying the Value of Assets

The identification and valuation of assets in a high net worth divorce will be the same as with a typical divorce. The only difference is that because high net worth individuals often have assets with fluctuating values it is more complex process than for most individuals. It will likely require the assistance of financial experts to identify which assets are marital and the true valuation of those assets.

If an asset is a share of the business, the business itself will need to be valued. The future profit flows of the business may need to be taken into account and the assets of the business will need to be evaluated. A high asset divorce in DC can become extremely complicated, but the only difference from a regular divorce is the amount of time and money needed to proceed.

Protection in Complex Divorces

A high net worth individual will find a divorce attorney to be invaluable in protecting their assets and in trying to keep the proceedings civil. Attorneys can play interference with the other spouse and work with the other spouse’s legal counsel to try to find a common ground and determine a valuation, and a fair division of the assets without requiring unnecessary court proceedings.

A divorce attorney can protect affluent individuals in ensuring that they meet all the requirements for financial disclosure and that everything is in-line with the legal requirements necessary to determine a fair and equitable division of the assets, while still protecting individual’s interests by ensuring that they do not end up being required to pay a higher amount merely because they can afford to do so.

Consulting with an Attorney

If you have a high asset divorce in DC, it is essential to consult with an attorney at the outset of divorce proceedings in order to ensure that your assets are protected. You will need someone with experience with high asset divorces who will understand the complexities of valuing your assets and/or identifying and tracing marital and separate property. Parties in these kinds of cases can have a lot more at state, financially, and they need attorneys with experience in these kinds of divorce cases.