Professional Assistance With High Asset Divorce
A divorce is rarely simple. From the tolling emotions and financial strain, both parties tend to walk away feeling drained. For those who have high net worth assets, divorce can become even more grueling. Our Tampa, FL complex high asset divorce lawyer should be called upon for these kinds of legal matters.
High asset divorces tend to be complicated. There are more assets to divide and more to gain – or lose. Knowing what to expect and how to prepare can put both spouses in a better situation. The best place to start is by retaining experienced, complex high asset divorce lawyers in Tampa, FL. A respectable lawyer isn’t just a legal advocate who will have your best interests in mind. Rather, they will have a considerable understanding of the relevant laws and statutes, as well as be able to refer to similar cases in order to support the overall case. Contact The McKinney Law Group today.
Table of Contents
- Professional Assistance With High Asset Divorce
- Finances In High Net Worth Divorces
- Common Causes Of High Asset Divorce
- The McKinney Law Group, Tampa Complex High Asset Divorce Lawyer
- Contact Our Tampa Complex High Asset Divorce Lawyer Today
Finances In High Net Worth Divorces
One of the most challenging parts of a high-net-worth divorce is the complicated financial network that is often involved. Prior to filing for a divorce, important financial documents should be located and kept safe. As the divorce proceeds, locating these documents can be difficult. Without knowing where tax returns, bank statements, accounting records, and so forth are, there will likely be unwanted surprises or elongated processes.Separate And Community Assets
Knowing where the assets are is just one part of the divorce. Community assets are those that were acquired during the marriage. If there is a prenuptial agreement, there could be stipulations that state otherwise. Separate assets are those that belong to the individual. These may include any property that was owned by one person before the marriage, an inheritance received before the marriage, gifts received during or before the marriage, and so forth. Sometimes, assets that were separate have been integrated with marital property. This is common in high-net-worth divorces. Usually, assets will need to be traced to determine if they are separate, or have they commingled with marital property.Contested High Net Worth Divorces
In general, high-net-worth divorces are more likely to be contested. However, spouses who have high net worths are more likely to be able to contest marital or community assets. Even if the legal fees to recover these assets are high, it may be worth contesting them. Valuation appraisers and private investigators are usually needed by each spouse. These parties can locate assets, and any related paperwork, and determine what each asset is worth. Our Tampa complex high asset divorce lawyer can help you to understand whether or not anything should be contested.Spousal Support
Depending on various factors, spousal support can become more complicated in the matter of a high net worth divorce. It is not uncommon for assets to be missing, bank accounts to be concealed or moved offshore, or digital assets like cryptocurrency be kept hidden from their partner. Uncovering these assets could potentially affect spousal support. A high asset divorce requires a knowledgeable family law attorney. For a consultation with the right lawyer, call The McKinney Law Group today.
Common Causes Of High Asset Divorce
When significant wealth, property, and investments are involved, divorce often becomes more complicated. Our Tampa, FL complex high asset divorce lawyer can provide clarity and guidance through these unique challenges. From your initial consultation to signing the final piece of paper, our attorney is dedicated to you and your case. You can trust us to stand by your side during this difficult time.Disagreements Over Property Division
One of the most common causes of high-asset divorce is conflict over dividing marital property. When couples own multiple homes, investment accounts, or business interests, disagreements about what constitutes marital versus separate property often arise. These disputes can quickly escalate, extending the timeline of your divorce and leading to prolonged negotiations or litigation.Differing Financial Priorities
High-net-worth couples may struggle when they have very different approaches to money. For example, one spouse may prefer aggressive investments while the other favors conservative savings. Over time, these differences in financial priorities can create tension, resentment, and a breakdown in trust that leads to divorce.Hidden Assets Or Financial Misconduct
Unfortunately, in some high-asset divorces, one spouse may attempt to conceal property, underreport income, or engage in financial misconduct. This lack of full financial disclosure undermines the marital relationship and often becomes a central issue in the divorce. Detecting hidden assets usually requires the assistance of forensic accountants and an experienced attorney.Business Ownership And Professional Practices
Owning a business together or having one spouse operate a successful professional practice can add another layer of stress. Questions arise about how to value the business, whether it should be sold or divided, and what role—if any—each spouse will continue to play. These complicated business-related issues are a leading cause of conflict in high-asset divorces. Our attorney will help protect your business interests and reputation while going through the process of dissolving your marriage.Lifestyle Differences And Spending Habits
In marriages where wealth provides access to luxury lifestyles, disagreements often emerge over spending habits. If one spouse feels the other spends excessively or prioritizes luxury over security, it can create lasting strain. Over time, these lifestyle differences may contribute to the breakdown of the marriage.Inheritance And Family Wealth Disputes
High-asset divorces frequently involve questions about inheritances or family wealth. If an inheritance was used for marital purposes, such as buying a home, disputes may arise about whether it remains separate property. These disagreements often carry emotional weight since they involve not only finances but also family legacies.Tax And Financial Planning Issues
Wealth brings with it sophisticated tax considerations and financial planning needs. Couples who fail to agree on tax strategies, estate planning, or charitable giving may find themselves at odds. When these disagreements persist, they can become a driving force behind separation and why they may seek guidance from our Tampa complex high asset divorce lawyer.