High Net Worth Divorce

Most divorces are contentious matters, with parties disputing who should get what. For couples that have assets worth a over $1 million, it can be even more complicated and litigious. These divorces are considered to be of high net worth, and the issues that must be handled in them are often far more complicated than a typical divorce. 

Complex Asset Division

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.  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 such as 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.

She’s got your back. Accessible and established representation. Your case in capable hands.

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Pre and Post Marital Agreements

Pre-and post-marital agreements are an effective and strategic way to save both time and money, all while eliminating potential legal battles that can arise during a divorce. Disagreements over who gets what assets during a divorce are one of the primary reasons that many high-asset divorces become both costly and time-consuming. Prenuptial and postnuptial agreements serve as one of the best methods to significantly reduce the need for contentious litigation between parties. A validly executed premarital agreement grants each party the ability to clearly designate their separate property while also allowing them to make informed and sound decisions regarding their future together, without the added emotions and stresses that often complicate matters during a divorce. At our firm, we work diligently to help you fully understand your rights and develop a comprehensive and practical plan that is tailored to your individual needs, always keeping an eye on your financial future and overall well-being.

Mediation is Possible

Mediation is a constructive approach to resolve one or more disputes without the need for a formal trial. This method of conflict resolution is particularly helpful in situations where large sums of money are involved, but it can also be effectively utilized in addressing high-conflict child custody cases. To avoid the lengthy and often stressful nature of a traditional trial, choosing mediation is generally considered to be the best option. A divorce mediation provides divorcing couples with a valuable opportunity to work through their disagreements amicably and reach mutually satisfactory resolutions without resorting to a trial. We can utilize the right mediator to ensure that your high-asset divorce is handled with the utmost care and professionalism possible.

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    Employing Experts

    Determining the value of assets can be a complicated process involving expert valuations and opinions. These experts must have access to pertinent documentation, conduct research, and prepare a valuation or appraisal report that can be presented in court. The expert may be expected to testify in court as to how they reached the values they placed on the assets. 

  • A brass balance scale and a wooden gavel on a desk with legal books and documents, symbolizing law and justice.

    Tax Considerations

    Distributing property with high values can trigger a myriad of tax considerations. Often, a CPA or tax attorney will need to be brought in to determine the tax implications of certain property distributions. How the distribution will be affected by governing tax laws can affect how the parties divide the property. 

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    Complex Child Support

    A court decides child support based mainly on the total income of both parents. Self-employed individuals can more easily hide their income, especially with large cash transactions. Their income may also change significantly each month, making it harder to get a clear view of their finances. As a result, evaluating the income of self-employed people is often more complicated than for those with regular paychecks or W2 forms.
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    Alimony (Spousal Maintenance)

    Alimony, referred to as Maintenance in Missouri, is sometimes involved in high-asset divorces. Often, there may be a financially dependent spouse because one spouse has concentrated their time on growing the family's wealth while the other spent all their time raising children and caring for the home. The parties can either agree to the length of time and amount of Maintenance or the court will decide it.

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Committed to YOU.

in it for the long haul

High net worth divorces can often take a fairly long time to complete successfully. This extended duration is mainly due to the significant amount of documentation and various forms of paperwork that must be meticulously reviewed to accurately determine exactly how much value the property owned by the couple is worth. Certified Public Accountants (CPAs) and property valuation experts will need to take an in-depth look into the financial records and determine precise asset values. Additionally, once that value has been established, it is highly likely that the parties involved will end up arguing over the fair division of the property, which can further prolong the process.

There are several other critical factors that can affect the overall duration of a high-asset divorce. For instance, sometimes accusations or persistent suspicions of hidden assets arise, and this can take a substantial amount of time to thoroughly investigate and discover the truth. In other cases, prenuptial or postnuptial agreements can help make the process go smoother or, conversely, hold it up significantly, depending on any challenges to the terms and conditions or overall validity of the contract itself.

In sum, for a high net worth divorce, you could be looking at a minimum of one year before the divorce is officially finalized. In some particularly complex cases, it can take several years to reach a resolution. As an experienced divorce lawyer based in Mid-Missouri, I possess the know-how, skills, and resources necessary to understand what to look for and how to effectively move the divorce process along with minimal hiccups and delays.

Let’s get this sorted out, together.

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Phone
(660) 624-2342

Email amanda@lotspeichlaw.com

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511 Foster Ln

Warrensburg, MO 64093

Located conveniently in the Warrensburg Medical District, just off Burkharth and Gay streets. We’re right behind Warrensburg Internal Medicine Office.