Resolving Complex Financial Disputes And Other Issues
As assets, investments and business interests grow and change with the times, your financial needs will become more complicated than ever. This is particularly true for nontangible funds, funds held out of the country and electronic cryptocurrencies. When your legal and financial needs intersect in a divorce, work with an aggressive attorney who takes a long view of your financial health.
Greco Law is an adaptive, highly capable law firm with a history of working with high-asset, high-conflict divorce cases. Our approach to the law is detail-oriented, exacting and effective. Your interests are our interests, and we are ready to get down to business on your behalf. Reach us at our Columbus office at 614-963-9154.
What You Need To Know About High-Asset Divorce
Those navigating the divorce process as high-asset individuals encounter many questions and concerns. To help you better orient yourself, we have compiled a list of answers to the questions our clients ask us most frequently.
What is a high-asset divorce?
There are several different understandings of high-asset divorces. One definition of a high-asset divorce is a divorce in which the value of the marital assets is one million dollars or greater. Another definition is a divorce in which one spouse has a vastly different financial standing than the other outside of marital assets. Generally speaking, these are divorces that involve significant, high-value assets. The more assets involved, the more complex the process becomes.
Do I need a high-asset divorce attorney?
Due to the complexity of these divorce cases, we advise high-asset individuals to seek specialized legal guidance from a high-asset divorce attorney. A high-asset divorce attorney has the knowledge, skill, and experience it takes to successfully navigate this process’s nuances and maximize the chances of a favorable outcome.
What will happen to my investments in my divorce?
Generally, both spouses split any appreciation in an investment that occurred during their marriage. Courts in Ohio use the principle of fair and equitable distribution when deciding how to split up marital property. You could split things 50/50, but the outcome depends on your and your spouse’s circumstances. A high-asset divorce attorney can tell you more about what to expect as it relates to your unique situation.
What will happen to my business in my divorce?
If you started a business while you were married or went into business with your spouse, the court would treat the business like a marital asset in your divorce. There are several options to consider when deciding what to do with the business. You could gain sole ownership of all business assets. You and your spouse may choose to co-own the company. Or, you and your spouse may decide to sell the business and split the proceeds.
What if my spouse tries to hide assets?
With so much at stake in a high-asset divorce, your spouse might use sneaky financial strategies to conceal marital assets so that they can keep more for themselves. However, forensic accountants and other experts can uncover this activity. Our firm has experience with cases of hidden assets and can help ensure you get your fair share.
How is spousal support determined?
Numerous things come into consideration when the court orders spousal support. Here are a few key factors that influence these arrangements:
- Each party’s income
- The earning potential of each party
- The assets and liabilities each party has
- Each party’s education level
- Each party’s standard of living during the marriage
- The duration of the marriage
Many more things shape spousal support payments, some of which may be unique to you and your spouse’s circumstances. A high-asset divorce attorney can tell you more.
What will my financial future look like after my divorce?
Our goal is for your financial standing and lifestyle to remain constant during the divorce process and beyond. However, there may be a few sacrifices that you will have to make along the way. Consult an attorney to get a clearer picture of how your divorce will affect your financial situation.
How can I financially prepare for my divorce?
The best way to get yourself ready for this process is to enlist the help of an experienced high-asset divorce attorney. With their support, you can begin to take inventory of your finances and forge a path forward. Our firm’s attorneys are ready to help you get started.
Pursuing Financial Excellence For Our Clients
Our firm offers substantial guidance to individuals and businesses with complex assets and holdings such as restricted stock units, foreign bank accounts, closely held businesses and deferred compensation plans. We leverage extensive legal knowledge with vigorous representation to:
- Assist with valuation and appraisals of property including businesses, real estate and investments
- Partnering with financial experts to manage and appropriately maintain your portfolio’s legal needs
- Leverage forensic accounting to uncover financial misconduct
Our office also works with individuals to determine their additional considerations during property division, including the significant and complex tax burdens that may be involved. We work with you during division to determine how to make the most out of your divorce settlement while staying within your means regarding the year’s taxes and forthcoming taxes.
A Strong Support For Your Financial Growth
There is no such thing as too much preparation, particularly when it comes to your finances. Take the time to speak with our attorneys about your portfolio, and learn how we can help you find a legal plan that facilitates your wealth management needs.