Virginia Beach High-Asset Divorce Lawyer

Couples with a high net worth face unique issues in a divorce case due to the complexities of the property involved. These cases may take longer to process than standard divorces due to the property division issues. Protecting your wealth and achieving a fair distribution of assets requires detailed knowledge of state divorce laws. To avoid costly mistakes, you should enlist experienced legal support.

When working with a Virginia Beach high-asset divorce lawyer, you move forward knowing that they will protect your financial interests throughout the case. A consultation with a knowledgeable divorce attorney at the Capital Family & Divorce Law Group could help you understand the unique issues involved in a high-net-worth divorce.

What Issues Are Unique in a High-Net-Worth Divorce?

Property division and child custody issues tend to be the most highly contested aspects of a divorce proceeding. A couple’s assets and debts are subject to equitable division under Virginia Code § 20-107.3. This ensures an equitable, if not exactly even, division of property between spouses. A lawyer could address several common issues in a Virginia Beach high-asset divorce, including:

Property Division

Business interests, stock options, investment accounts, trusts, inheritances, multiple homes, luxury vehicles, boats, and valuable collectibles may all require skilled valuation. Determining which property is marital, which is separate, and how much it is all worth is a painstaking but necessary process.

Spousal Support

In many high-asset cases, one spouse earns substantially less than the other and faces financial hurdles after divorce. In these situations, that spouse may need spousal support. Higher-earning spouses must make sure any spousal support order is fair, while those seeking support should ensure any settlement meets their future financial needs.

Child Custody and Visitation

High-asset couples could have one parent whose work obligations make a typical 50-50 custody arrangement impractical. Tailoring custody arrangements and visitation schedules could better suit complex schedules and distance between parents’ homes.

Concealment of Assets

Concealment of assets is a frequent concern in high-asset divorces. Spouses may use various methods to transfer assets, including secret accounts, offshore accounts, business entities, cryptocurrency, and other digital assets, to reduce their perceived net worth. Dedicated attorneys use forensic accounting and other techniques to identify all assets and liabilities during property evaluation.

Preparing for a High-Asset Divorce

When preparing for a high-asset divorce, some key tips include:

• Thoroughly documenting assets and debts
• Keeping detailed records, especially for potentially commingled assets
• Seeking advice from financial advisors and forensic accountants
• Obtaining trustworthy valuations from professionals for complex assets
• Working with tax advisors to understand the tax impact of property division issues before agreeing to a divorce settlement

An attorney in Virginia Beach with experience in high-asset divorce cases could help with these and other critical steps.

Contact a Virginia Beach High-Asset Divorce Attorney Today

A Virginia Beach high-asset divorce lawyer could help you understand the legal issues and clarify complicated financial matters during your case. To learn more, call the knowledgeable legal team at the Capital Family & Divorce Law Group today to schedule your consultation.