When working through a high net worth divorce, it is imperative that you hire an attorney who understands the challenges and processes of settling this type of divorce. As substantial assets are involved in a dissolution, it is critical that your lawyer has the knowledge and skills to protect your financial interests.
When you consult with our divorce attorneys, we will analyze your unique situation and devise a plan to address your financial concerns. It is crucial to seek support early in the process of divorce before you take any actions in order to better safeguard your future. We are happy to help set you up for success.
What Is Addressed in a High-Net Worth Divorce?
A wide variety of assets and considerations arise in a high net worth divorce. These types of divorces typically address the division of:
- Real estate holdings
- Primary and secondary residences
- Business valuations
- Brokerage accounts
- Pensions, 401(k)s, and other retirement accounts
- Artwork, jewelry, and other valuables
Real Estate in a High-Net Worth Divorce
In a high net-worth divorce in Pittsburgh, real estate is often seen as an asset that needs to be divided. From vacation homes and rental properties to primary residences and investment properties, the distribution of real estate assets can be one of the most complicated parts of the divorce process. A skilled lawyer from Schmidt Bresnahan Law Group, LLC will help you identify all real property assets and reach fair agreements on how they are to be divided between the spouses.
The court may consider these factors when determining who gets what real estate in a High-Net-Worth Divorce in Pittsburgh:
- Income contributions by each spouse
- Additional debts associated with the real estate
- Tax ramifications from the division of property
- Length of ownership
- Appreciation expectations
Common High Net-Worth Divorce Disputes
High net worth divorce disputes are common considering the assets involved. Some of the typical disputes that arise during this type of divorce include:
- Calculating spousal support
- Determining child support
- Division of property and assets
- Valuation and division of business interests
- Tax implications
- Hidden assets
Dividing Up Partnerships & Businesses in High-Net Worth Divorce
Dividing up partnerships and businesses in a high net-worth divorce in Pittsburgh can be a complicated process.
- The court considers both the fair market value of the business and any vested interests each spouse holds to determine an equitable division.
- A forensic accountant may need to be appointed to assist in determining the true value of the business.
- When dividing up partnerships and businesses, all personal loans, investments, contributions, debts and ownership interests must be taken into consideration in order to reach a fair agreement between both parties.
How a High-Net Worth Divorce Is Different from Other Divorces
High net worth divorces can be more complex due to the amount of assets involved. As such, the discovery and negotiation processes might draw out longer. There is a higher risk that more disputes will be brought up as well. In the event these issues cannot be resolved within a reasonable amount of time, a couple will face additional lawyer fees and court fees if the case goes to trial. Additionally, child support and spousal support might be calculated differently.
How to Divide Retirement Assets In a High-Net Worth Divorce in Pittsburgh
In a high net-worth divorce in Pittsburgh, dividing up retirement assets is an important part of the divorce agreement.
- Both parties must accurately calculate and disclose any investments or contributions they have made to their retirement accounts throughout the marriage.
- The court will consider factors such as:
- Length of marriage
- Age of each spouse
- Earning potential Lifestyle needs when making determinations on how to divide up retirement assets.
It is important for each party to have appropriate legal counsel throughout this process in order to ensure that their interests are adequately represented during negotiations.
Protect Your Interests
Our attorneys have years of experience assisting couples with their high net worth divorces. We know how to ask the right questions, analyze details, and protect your rights when it comes to equitable asset and property division. We also partner with forensic accountants, business valuation professionals, and other professionals to ensure we can live up to this promise.
Prenuptial & Postnuptial Agreements for High Net-Worth Individuals
Having a prenuptial agreement or postnuptial agreement for high net-worth individuals is recommended to provide clarity and protection in the event of divorce. An experienced prenup attorney from Schmidt Bresnahan Law Group, LLC
can help you protect yourself with a pre or post marital agreement.
Experience Matters: Consult with Us Today
With more assets to divide, high net worth divorces can get rather complicated. If your divorce will be one of high net worth, consult with our experienced lawyers. Divorce is already stressful enough, so let us help you take care of the financial and legal aspects.
Reach out onlinetoday or call us at (412) 693-6681 for support with your high net worth divorce.
Heather is very professional.Shaina A.
Heather represented me in a divorce case recently and I feel that she did an excellent job.James T.
She had a sincere interest in my divorce, I wasn't just a client she treated me as family.Former Client
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