Any divorce involving substantial assets almost always means that complex legal and financial issues will be involved as well. From the valuation of assets to the division of property to the determination of support payments, these areas will come with unique considerations in a high-asset divorce. Each spouse will want to safeguard their interests and ensure that everything is resolved in a fair manner.
If you’re going through a high-net worth divorce in Arizona, get the guidance of an experienced divorce attorney from Goldman Law. We have over 25 years of combined experience handling complicated divorce cases, plus a strong background in taxation and financial law. When you work with us, we will:
- Collaborate with forensic accountants and tax experts to help you get an accurate asset valuation
- Strategize to legally protect your financial interests and the best interests of your children (if any)
- Build a solid case if you are disputing divorce matters such as property division, alimony, and child support
- Find creative, favorable resolutions to help you avoid costly, time-consuming divorce litigation.
Start by talking to Goldman Law in a confidential consultation. Call (602) 698-5520 today.
What Counts as a High-Net Worth Divorce in Arizona?
There’s no official definition of what a “high-net worth divorce” is, but in our experience, divorces involving assets of $1 million or more need specialized legal service. Likewise, divorcing couples who have assets greater than $100,000 should also get a competent attorney as this scenario is considered a “sub-high-net worth divorce.”
You don’t have to wait for asset valuation before consulting a high-asset divorce lawyer. If your marriage involves sizable savings, businesses, investments, or retirement accounts, it’s wise to seek legal guidance early on. We at Goldman Law can help you get a thorough and reliable assessment of your marital property and how you can protect what you’re entitled to.
Unique Considerations in a High-Asset Divorce
Differences in Valuation Methods
You and your spouse will each need to determine the value of assets with the help of valuation appraisers. There are various appraising methods for each kind of asset, so differences in valuation typically arise during high-net worth divorce. In addition, some assets will be worth more than their dollar value because of their subjective value to the owner.
When you and your spouse cannot agree on asset valuation, you may need to assert your appraisal to the judge. Work with us at Goldman Law for expert-guided valuation that we can defend in court.
Determining Separate vs. Marital Property
The distinction between separate and marital property is crucial in property division, as only marital property can be divided between divorcing spouses. Separate property are those you obtained prior to the marriage, including inheritance and gifts. Marital property, on the other hand, is virtually anything you acquired while married.
The challenge in many high-net worth divorces is that separate property is often commingled with marital property. For example, if you started a business when you were single but your spouse contributed to it during your marriage, they now have a stake in that business which they’re entitled to upon divorce. Another example is if one spouse started a separate trust before getting married but then placed marital funds in that trust during the marriage.
Distinguishing between marital and separate property is one of the trickiest aspects of divorce. You’ll want the counsel of an attorney who has proven experience in high-asset cases.
Determining Spousal Maintenance and Child Support
Though individual income isn’t the sole factor dictating alimony and child support, it is a major component of support determinations. A spouse who earns much more than their partner is usually ordered by the court to pay spousal support, child support, or both.
Arizona law prescribes a formula to calculate child support, but it is possible to deviate from this formula if it does not reflect the child’s best interests. For instance, the court may order a larger child support amount to help maintain the way of life that the child is used to.
This is a delicate area of divorce where you need to protect your interests while being fair to everyone involved. If you have a child, you want to ensure their welfare and happiness but you also don’t want to be taken advantage of in the process. The legal guidance of an attorney will be helpful in this area.
Tracing Hidden Assets
Unfortunately, high-value individuals may try to conceal assets to prevent them from getting divided in divorce or getting factored into support calculations. If you suspect that your spouse has hidden or diverted assets, speak to us at Goldman Law. We have developed a network of forensic accountants and special investigators who assist us in tracking hidden assets.
Call Goldman Law, High-Asset Divorce Lawyers in Phoenix
When there’s so much at stake in your divorce, you need the guidance and representation of a highly competent attorney. We at Goldman Law are reputed in Arizona for our skilled and strategic handling of complex divorce cases. We have assisted individuals in high-value divorces, obtaining favorable outcomes for them while protecting the best interests of their children.
See what we can do for you. Get your confidential consultation by calling (602) 698-5520 today.