Marriage is a financial and legal relationship that requires expertise when it comes to the division of proprety and assets.
Marriage is a financial and legal relationship, in which financial concers are at the forefront when the relationship comes to an end. High net worth asset individuals have to consider many more items when dealing with a divorce. Engaging an attorney that is experienced in the implications of a high net worth divorce will help you to protect what you have worked so hard to build.
Assets complicate a divorce, and couples dealing with significant amounts of assets, businesses, or property will need to understand the implications of the divorce. Business values are tied to cash flow, liabilities, and receivables. The ability to separate these values properly requires experience and a full understanding of accounting, finance, and tax implications. When dividing assets in a divorce, the tax implications of this division should be understood. Tax planning and a full understanding of the options available should be undertaken. The division of assets in a divorce can also effect spousal support.
Issues to Consider
- Business valuation
- Professional liscense valuations
- Stock Options
- Differed Compensation
- Income Verification
- Prenuptial Agreements & Enforceability
- 401K & Retirement Income/Accounts
- Joint Liabilities Distribtuion
- Rental & Vacation Property
At Kirkland & Sommers, we know that divorce is not all about money, but the financial and tax implications of a split can have an impact for years to come. If you have questions surrounding asset division and valuation in a divorce, please call us today: 937.853.5555