Resolving The Complex Issues Of High-Asset Divorce
When divorcing spouses have significant assets, the stakes in the case are much higher. If you are facing a divorce and there are complex assets involved, it is important to work with an experienced high-asset divorce attorney so that you can receive the representation you need during this already difficult time.
At Rogers Sevastianos & Bante LLP, we have extensive experience with high-asset divorces in St. Louis, St. Charles, and communities throughout Missouri and Illinois. Attorney Joe Bante heads our family law team that is committed to providing the highly personalized and attentive service our clients need and deserve.
We work closely with clients of all financial backgrounds to educate them on the process and keep them continually informed on the progress of their case. Our in-depth knowledge helps us successfully navigate even the most complex high net worth divorce cases. This gives our clients confidence and assures them that all important issues will be effectively addressed.
Common Financial Issues In High-Asset Divorces
For divorcing spouses who have a high net worth, it can be challenging to achieve an equitable division of property because of the complexity of the assets involved. Some common examples include:
- Businesses: Many high net worth couples have family-owned businesses or professional practices. Oftentimes, it is difficult to determine the value of such businesses or if they should even be included as marital property. We provide skilled guidance with these matters toward obtaining a valuation that is reasonable and equitable.
- Real estate portfolios: Properly valuing residential and commercial real estate and determining how much of it is marital property can be another complicated web to untangle. If you own valuable rental real estate, it is important to have someone with knowledge of these types of assets fighting for you. Attorney Joe Bante has a vast breadth of experience in real estate law to help guide your case.
- Retirement accounts: Pensions, 401Ks and other types of retirement accounts need to be properly divided while taking into account the tax consequences. In high-asset divorces, qualified domestic relations orders (QDROs) are a common tool to accomplish this objective.
- Other investments: All investments must be examined to determine their value and source of funding. These can include stocks, bonds, stock options, trusts, and unique assets such as classic automobiles, wine, fur, land, show horses, pop culture and art collections.
- Hidden assets: There are many instances when at least one spouse might be hiding an asset and/or income stream. If this is suspected, a thorough investigation by a team of trained experts is needed to uncover all hidden assets.
- Liabilities: During the division of property for high-asset couples, it is important to consider not only the assets that are part of the marriage but also the liabilities. For example, businesses and real estate property often have loans that are secured by these assets.
- Marital agreements: High net worth couples often have a prenuptial or postnuptial agreement that provides specific direction on how assets are divided in the event of a divorce. These agreements must be analyzed to determine if they are valid and should be used in crafting the settlement.
- Tax consequences: Couples with complex financial assets also tend to have complex tax situations. When a marital estate is divided, a thorough examination of the tax consequences must be conducted to ensure that neither spouse ends up with a post-divorce tax problem.
Speak With A Proven High-Asset Divorce Attorney
At Rogers Sevastianos & Bante LLP, we understand the complex nature of high net worth divorces. Attorney Joe Bante practices daily in the St. Louis metro courts, and he understands the nuances of these courts and judges, and how they tend to apply the law. Though he looks to resolve cases fairly and sensibly, if the other side is unreasonable, he is ready and able to put his vast trial and appellate experience to work to litigate your case with zealous advocacy.