High Net Worth Property Distribution

When a divorcing couple have a great many assets, the divorce process is often more complex. It is thus important for a high net worth couple to hire divorce attorneys who are experienced in dealing with high net worth divorces.

Determinations must be made as to whether property is so-called “marital property” or individual property. Marital property is defined as property that was acquired or increased in value during the marriage. Marital property is subject to equitable distribution. Individual property of the parties is not divided upon divorce. Determining whether property is marital or individual property is sometimes a complex evaluation. The Salvo Law Firm regularly works with a team of forensic accounting specialists to help with these determinations.

If there is a family-owned business, a business valuation must be conducted to determine, among other things, whether the business is marital property subject to equitable distribution or individual property. Even if the business was started prior to the marriage, however, any increase in the value of the business during the marriage may be subject to equitable distribution.

In addition to dealing with the difficult task of deciding equitable distribution of property, it is important that complicated financial issues such as tax planning and retirement planning are also addressed.

Call us to speak to an experienced divorce attorney or to set up a complimentary initial consultation.

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