High-asset or high net worth divorces have historically been those in which more than $1 million in liquid assets are involved. Given the skyrocketing values of property in recent years, simply owning a modest home in certain cities may be enough to technically qualify as a high-asset divorce. However, the typical high-asset divorce today involves multi-million-dollar property ownership.
The issues in a high-asset divorce are the same as in any divorce. Property and debts must be divided, alimony may be considered, and where children are involved, child support, custody, and visitation need to be addressed. The issue that usually makes high asset divorces more difficult, costly, and time-consuming is property division.
Spouses in high net worth divorces may own multiple properties or businesses, have investments, intellectual property, stocks, retirement accounts, and valuable items of personal property such as artwork, furniture, jewelry, and vehicles. There may be issues involving deferred compensation, stock voting rights, and real estate or business partnerships that can prove difficult to sort out. Continue Reading →