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Dealing with High-Net-Worth Divorce

 Posted on December 11, 2023 in Divorce

TX divorce lawyerGoing through a divorce is difficult enough emotionally. But when a lot of money in assets accumulated over a long marriage enters the equation, the financial complexities and stakes intensify tremendously. You deserve to be prepared, and a Texas lawyer can help.

Understanding the Complexities

High-net-worth divorces involve additional complexities and higher stakes compared to standard proceedings. With significant marital assets like businesses, investments, luxury real estate, retirement accounts, expensive collections, and similar in play, it becomes critical to have an attorney well-versed in protecting and pursuing complex financial assets. Be prepared for disputes on asset valuation and creative attempts to hide wealth. While it can be complex to deal with, it is beneficial to be prepared.

Assembling the Right Legal Team

Your legal team should include not just an experienced high-net-worth divorce attorney but also rely on trusted financial and tax advisors. CPA expertise proves essential for forensic accounting, business valuation, documenting true incomes from investments and assets, and optimal structuring of settlement agreements. 

They can model different scenarios to divide assets favorably and minimize tax consequences on things like retirement account withdrawals or real estate sales after the divorce. A financial planner can help protect your long-term financial health after the split as well. With so much wealth and associated complexity in play, assembling the right specialists makes all the difference.

Expect the Case to Take Time

Cases with extensive assets and disputes over millions in marital property usually involve lengthy legal processes spanning months to even years. Discovery alone takes substantial time as lawyers secure documentation on all marital property subject to division. It then becomes negotiating the most favorable split for your situation based on applicable state laws. Be prepared for many back-and-forths to reach a settlement. With so much at stake, having patience and reasonable expectations on a timeline becomes critical.

While a high asset divorce can be unpleasant and draining, it can be done right to potentially achieve a fair outcome, positioning both parties for long-term financial security post-marriage. But there are certainly serious pitfalls without the right guidance protecting your interests at every step, from initial filings through final judgments.

Contact a Bexar County, TX Divorce Lawyer

You do not have to go through a high asset divorce yourself. There are many complicated steps along the way. A San Antonio, TX divorce attorney is someone you should have on your side through the process. Call Brandon Wong & Associates at 210-201-3832 to get started on your case and get on the right path for your specific circumstances.

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