How a Lawyer Can Help with a High-Asset Divorce

High-Asset Divorce Lawyer

The average divorce is rarely pleasant. Money issues, property rights, title to vehicles and other matters can easily cause tempers to flare. The confrontation and hostility are often multiplied in high-asset divorce cases, where businesses, multiple real estate properties, stocks and other securities, pensions and retirement accounts are involved.

It is no secret that spouses often try to hide their assets in divorce proceedings. One spouse may have transferred money to a secret bank account, or to a person to hold pending the outcome of the divorce. A spouse who owns a business might comingle personal funds into a corporate account. Sometimes a spouse who is eligible for a raise requests the employer to postpone the promotion until after the divorce. Other times, a spouse might simply keep quiet about pensions, retirement accounts, or properties owned in different states.

Sadly, there is more to lose in these cases than just getting a fair share of the marital estate. In a typical high-asset divorce case, one spouse earns significantly less than the other spouse. When there is a large difference in income, the spouse who earns less is often entitled to an award of alimony.

The only way to obtain a fair share of the marital property, or obtain much needed spousal support, is to bring the opposing spouse’s assets to the court’s attention. If the assets remain hidden, the lower-income spouse stands to lose out on rights to substantial sums of money.

Fortunately, experienced divorce lawyers know ways to discover hidden assets. The attorney will often work with financial forensic experts to examine the spouse’s lifestyle. Problems can arise when the high-income spouse files paperwork with the court to prevent an investigation. This is what makes a lawyer absolutely necessary. A competent lawyer familiar with the applicable law can clarify matters for the court, articulate precisely how the law permits your requested relief, and enforce your right to fully investigate the spouse’s financial affairs.

Once the assets are discovered, the lawyer can do two important things. First, the lawyer can use the information to put pressure on the opposing spouse to enter into an agreement and settle out of court. This avoids the time and cost of trial while also offering you peace of mind. Second, if negotiations do not result in an agreement that meets your needs, the discovered information will allow the lawyer to put together a presentation for the court. This involves navigating the rules of evidence, while taking complex financial matters and explaining them in a clear and understandable way. An effective trial presentation will explain how you are entitled to an award of the marital property and spousal support.