San Antonio High Net Worth Divorce Lawyer

Representing High-Income Clients in Divorce

If you have a substantial estate and plan on filing for divorce, you might be concerned about how you’ll protect your assets and walk away with what is rightfully yours. You might be worried about having to pay alimony or about losing part of the business you worked so hard to grow.

Filing for divorce as a high-income individual doesn’t have to be the headache you might be expecting. At The Law Office of Derek S. Ritchie, PLLC, we offer the comprehensive legal counsel needed to get you to the other side while reducing stress and focusing on results. We understand the unique circumstances of your situation and recognize that your case requires a personalized and determined approach. Our San Antonio high-asset divorce lawyer in is ready to see your case through to a successful conclusion.

What is a High Net Worth Divorce?

A high net worth divorce involves the dissolution of a marriage where the marital estate includes significant financial assets and properties, typically amounting to a high monetary value. These divorces can be complex and contentious due to the substantial assets and intricate financial arrangements involved. Here are some key characteristics and considerations in high net worth divorces:

• Complex Asset Division: High net worth divorces often involve various types of assets, such as real estate, businesses, investments, retirement accounts, stocks, bonds, valuable collectibles, and overseas holdings. The division of these assets requires thorough evaluation and often expert financial analysis.
• Valuation of Assets: Accurate valuation of assets is crucial in high net worth divorces. This might involve hiring forensic accountants, appraisers, and financial experts to assess the true worth of properties, businesses, and other investments. Ensuring fair and equitable distribution can be challenging without precise valuations.
• Tax Implications: Dividing high-value assets can have significant tax implications. Understanding these tax consequences is essential to avoid unexpected financial burdens post-divorce. Tax professionals are often engaged to navigate these complexities.
• Business Interests: If one or both spouses own a business, determining its value and deciding whether to sell, split, or continue co-owning the business post-divorce adds another layer of complexity. Protecting the business’s operational integrity while ensuring fair division requires careful planning.
• Spousal Support (Alimony): High net worth divorces often involve significant spousal support considerations. Determining the amount and duration of alimony can be contentious, especially when the couple's standard of living was very high during the marriage.
• Pre-Nuptial and Post-Nuptial Agreements: These agreements can play a critical role in high net worth divorces. If a pre-nuptial or post-nuptial agreement exists, it will outline how assets should be divided, potentially simplifying the process. However, the validity and enforceability of these agreements can sometimes be contested.
• Privacy Concerns: High-profile individuals often seek to keep the details of their divorce private. This may involve sealing court records and employing confidential mediation or arbitration instead of public court proceedings to protect personal and financial information from public scrutiny.
• Custody and Support Issues: If children are involved, determining custody and child support can be complicated by the family's high standard of living. The court will consider the best interests of the child while ensuring that support payments reflect the family's financial status.

A high net worth divorce involves navigating numerous financial complexities and ensuring that asset division, support arrangements, and other critical issues are handled with precision and care. Engaging experienced professionals, including attorneys, accountants, and financial advisors, is essential to achieving a fair and equitable resolution in these cases.

Property Division in High Net Worth Divorces

Fairly dividing marital property is usually the most complex aspect of a high net worth divorce. After property has been categorized as marital (meaning it is shared by both spouses) or separate (meaning it belongs only to one spouse), you’ll have to accurately appraise each asset.

Assets to consider and value in your high net worth divorce include:

• Retirement accounts
• Businesses owned by you and/or your spouse
• Investments
• Stock options
• Real estate
• Jewelry, art, and other valuable collectibles
• Bank accounts
• Intellectual property (trademarks, patent, copyrights)
• Inheritances or trusts
• Vehicles
• Other intangible assets worth value

Our San Antonio high net worth divorce lawyer can work with you and with financial experts to appraise assets and uncover potentially hidden assets. We fight for our clients and refuse to settle for a less-than-ideal property division agreement.