High Asset Divorce Attorneys – Valparaiso, IN.

For business owners, professionals, and other individuals who have accumulated substantial assets during their lifetime, getting divorced can have significant financial implications. The same is true for spouses of high-earning individuals.

At Cioe & Wagenblast PC, we have over 30 years of experience representing spouses in high net worth divorces. We work closely with our clients to negotiate favorable divorce settlements whenever possible, however we will not hesitate to take your divorce to trial when necessary. We know how to handle your high-net worth divorce when dealing with property, tax, financial support, retirement, business ownership, and other unique issues involved in high-asset divorces.

What Is A High Net Worth Divorce?

A high net worth divorce involves the dissolution of a marriage where the couple has significant assets, often valued at millions of dollars. These divorces are typically more complex due to the large amount of assets and financial interests involved. Key characteristics & considerations include;

• Various retirement funds, pensions, annuity funds, IRA accounts, tax-deferred compensation funds, profit-sharing plans, 401(K)s, 403(B)s, ESOPs, ESPs, KEOGHs, IRAs, and other retirement plans
• Various bank accounts, life insurance & investment accounts
• Fine art, automotive &  memorabilia collections
• Business ownership (corporation, LLC, limited partnership, etc.)
• Private or commercial real estate
• Complex mortgages & loans
• Large inheritances

Dividing Assets in High Net Worth Divorce

Whether you or your spouse have accumulated significant assets, the division of these assets is likely to take center stage in your divorce. Under Indiana’s “marital pot” rule, in the absence of a prenuptial or post-nuptial agreement, all assets owned by either or both spouses will be on the table. This includes all assets acquired before or during the marriage and any designations of ownership on legal titles will be ignored.  Dividing high-net worth assets amongst divorcing couples can be very difficult & complex.  This is why you need to hire a high-net worth divorce attorney with many years of experience and a thorough understanding of Indiana’s Family Law.  At Cioe & Wagenblast PC, we are up for this challenge and you can trust that our 30 years of experience will help you with your high-asset divorce.

Even if you and your spouse agree to a 50/50 split, you will still have to address several challenging issues during your divorce.

For example, in a high-net worth divorce, you will likely have to determine:

• Which Assets Will be Distributed to Whom? – In high net worth divorces, agreeing to a percentage split is just the first step in determining who gets what. The spouses must also agree upon a comprehensive inventory of their property, and then they must work through the process of dividing those assets appropriately.
• The Proper Value to be Assigned to Physical Assets – Dividing the marital pot according to the agreed upon numbers.  It may be necessary to properly appraise several assets, which can include; real estate, antiques, artwork, jewelry & etc. In some cases, divorcing spouses may obtain competing valuations, which can lead to disputes that need to be resolved before the property division process can move forward.
• The Proper Value to be Assigned to Retirement & Investment Accounts –  There are special tax rules that allow for the division of retirement accounts during a divorce, but you will need to arrive at an appropriate valuation. Just like physical assets, there are various methods available for valuing retirement * investment accounts. Different methods may favor spouses with differing agendas.
• Who Will Control & Own Your Business? – Ownership interests in a privately held business are treated largely the same as all other assets. Disputes over control and ownership can delay proceedings and can sometimes force divorcing spouses into mediation or litigation.

In high net worth divorces, it is not uncommon for spouses to want certain high-value assets. Whether you want to protect your antique cars, boats, or vacation home, issues related to sentimental value can add to the complexity of dividing a sizable marital estate.