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Issues in High Asset Divorces

August 31, 2017

Media Divorce Lawyers: Issues in High Asset DivorcesWhen one or both spouses have significant assets, complex legal issues arise when it comes to divorce. Couples with high a net worth typically have a diverse financial profile that requires an in-depth understanding of asset valuation. For this reason, it is critical to have a divorce lawyer who has the experience and the resources necessary to achieve a fair outcome in a high asset divorce.

Pre-Nuptial Agreements

A “pre-nup” is an agreement each spouse signs prior to marriage which determines how assets will be split in the event of divorce. This type of an agreement can set forth different scenarios depending on the precursor for the divorce. However, just because you signed a pre-nuptial agreement does not mean that your fate in the divorce is set in stone. Certain provisions are unlawful in a pre-nup, or at least are overridden by statutory law. For instance, a pre-nuptial agreement cannot override the distribution of an Employee Retirement Income Security Act plan (ERISA plan). In other words, even if you signed a pre-nuptial agreement waiving your right to your spouse’s ERISA, you may still be entitled to a share.

Business Distributions

Regardless of whether one or both spouses are invested in ownership of a business, the first step is to assess the market value of the company. An experienced Media divorce lawyer will work with financial experts (forensic and/or actuarial) to determine the appropriate value of your individual and marital assets. In some cases, it may be to one spouse’s advantage to buy the other out, or structure an annuitized settlement. Your lawyer will explain all of your legal options, setting forth the possible ramifications.

Child Custody

In any divorce, child custody tends to be the most heated, central issue. With high asset divorces, it can be easy for the breadwinner to take advantage of the dependent spouse. A reputable Media family law lawyer will always fight for the best interests of the child.

Forensic Accounting

It is not uncommon for a spouse to attempt to hide assets when facing a high asset divorce, whether it be through offshore bank accounts, or the movement of cash. Your lawyer will work with forensic accountants to assign value to all assets for equitable distribution, including residential and commercial real estate, art and collectibles, patents and intellectual property. They can also investigate hidden assets.

Stock Options and Retirement Assets

These are complex issues that require an experienced high asset divorce lawyer to disentangle. You may elect to draft a settlement agreement that includes a constructive trust to account for the tax effects of stock option distribution. 401ks, 403Bs, IRAs and more are often subject to division in a divorce.

Media Divorce Lawyers at Eckell Sparks Represent Clients in High Asset Divorces

If you are considering divorce, contact a Media divorce lawyer at Eckell, Sparks, Levy, Auerbach, Monte, Sloane, Matthews & Auslander, P.C. to discuss your legal options. Contact us online, or by phone at 610-565-3701 today. With offices conveniently located in Media and West Chester, Pennsylvania, we represent clients throughout Southeastern Pennsylvania, including those in Chester County and Delaware County, as well as the surrounding communities of Collegeville, Havertown, Lansdale, Marcus Hook, Phoenixville, and Upper Darby.

A Message to Our Customers About Coronavirus COVID-19:
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A Message to Our Clients About Coronavirus COVID-19:

We want to assure everyone that during this unprecedented and difficult time, we are still operating and will continue to meet all the legal needs of the residents of the Delaware Valley. While the Governor’s recent orders have restricted the operations of some businesses, Eckell Sparks has deployed a variety of applications and hardware that allows both our attorneys and our support staff to confer with clients remotely, provide consultations to those seeking legal advice, and continue to provide the high level of legal services to our clients as we have always done. For more than 50 years, our Firm has been a force in the Delaware Valley legal community. And by now also leveraging technology, we will continue to do so both during, and after, the current public health emergency.

So, if you need us, we are here. Are you an employer and don’t know what to do under all the new Corona-virus laws being passed in Washington? Were you injured in a car accident either before, or during, the current crisis? Call or email us. We can help. www.eckellsparks.com 610-565-3700.

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