Divorce For High Net Worth Couples
When couples who are financially well-off or couples who own businesses decide to dissolve their marriage, they often face unique challenges in dividing their assets. Enforcing prenuptial agreements and determining how to divide family-owned businesses are common problems. Owning high-value assets that cannot be easily converted to cash without taking a loss makes dividing assets and determining child support payments complex and troublesome.
Confronting The Unique Issues In High-Asset Divorce
At Terenzini & Lucero, LLC, we have the specialized knowledge and experience to help clients with a high net worth navigate the divorce process. Common issues we deal with in high-asset divorce cases include:
- Business valuations
- Business ownership interests
- Medical, legal or other professional practices
- Retirement accounts
- Stock options
- Multiple real properties
We can help ensure that issues surrounding the division of complex property and assets, as well as legal issues involving your children, are resolved in a way that is fair and equitable to you.
Complex Divorce Considerations For Business Owners
When your business is considered marital property, a valuation must be determined. To do this, you need to retain the right accounting or business valuation professionals to determine a fair valuation that the court will accept. Most likely, your former spouse will also get a valuation for the business; if the two numbers are substantially different and your valuation is considered implausible, you may lose your credibility with the court and tilt favor in negotiations toward your former spouse.
For couples with children, Maryland uses a formula for determining child support payments. That formula does not always account for the nuances of how business revenue works. When the value of a business lies mostly in inventory, property, plant and equipment, the state’s child support formula may suggest an unrealistic support payment. We know how to explain to the court how a high-value business does not necessarily mean a high monthly income. Our legal team can negotiate child support payments, as well as alimony or spousal support payments, that are fair and equitable.
Enforcing And Challenging Prenuptial Agreements
When properly executed, it is very difficult to challenge the stipulations of a prenuptial agreement. However, if both spouses did not have separate legal representation review the agreement when it was created, you may be able to dispute the validity of the agreement. Other circumstances and conditions may also allow you to challenge the covenants of a prenuptial agreement.
The family law legal team at Terenzini & Lucero, LLC, led by attorney Alicia Lucero, helps clients with both challenging and enforcing prenuptial agreements in high-asset divorces. If you need legal guidance in dealing with a prenuptial agreement, we have the knowledge and experience to help you get a fair and equitable resolution.
Contact Terenzini & Lucero, LLC
If you are part of a high net worth marriage and are considering divorce, call Terenzini & Lucero, LLC, at 240-428-0933 or fill out our online contact form to set up a consultation.