Navigating All The Details Of A High-Asset Divorce
If you have a high net worth, it is essential to choose a lawyer who excels at handling the complexity of an extensive marital property division process. Sean P. Schmergel has represented clients in family law matters including high-asset divorce for over 20 years. With a large portfolio of investments, properties and high-ticket items, including retirement assets, it could be easy to miss some details, but our firm does not allow that to happen. We:
- Search for hidden assets
- Characterize property as separate or marital
- Aggressively pursue division strategies that meet your goals
Separate property stays out of consideration for asset division, so it is to your advantage to have as much of it as possible off of the table for division negotiations. When developing strategies to defend your right to a fair division of property, we keep possible tax implication scenarios in mind.
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Navigating Complex Asset Valuation And Property Division In Virginia
Virginia follows equitable distribution laws when dividing marital property in a divorce. “Equitable” means “fair,” not equal. Courts do not automatically split assets 50/50. Instead, judges consider multiple factors to determine what division serves fairness best. This makes the quality of your legal representation critical in a high-asset divorce Arlington case.
Identifying High-Value Assets
High net worth divorces involve complex assets that require careful analysis and valuation. Common high-value assets in these cases include:
- Closely-held businesses and professional practices
- Multiple real estate properties, including investment properties
- Unvested stock options and restricted stock units
- Deferred compensation plans and executive benefits
- Intellectual property, patents and royalties
- Cryptocurrency and digital assets
- Art collections, luxury vehicles and other collectibles
Our complex property division attorney approach ensures we identify every asset that belongs in the marital estate.
The Valuation Process
Accurate business valuation in divorce requires competence beyond legal knowledge. We collaborate with financial experts, including certified business appraisers, forensic accountants and real estate evaluators, to determine the true value of your marital estate. These professionals analyze financial records, market conditions and future earning potential to provide reliable valuations that hold up in court. This thorough approach protects you from accepting an unfair settlement based on incomplete or inaccurate information.
Understanding Marital Versus Separate Property In Virginia
Virginia law distinguishes between three types of property: marital property (acquired during the marriage), separate property (owned before marriage, or received as a gift or inheritance) and hybrid property (a mix of both). The commingling of assets complicates this classification. When you deposit separate funds into a joint account or use marital income to improve separate property, the lines blur. Our firm traces the origin of assets and calculates the marital and separate portions to ensure you keep what rightfully belongs to you.
As a boutique firm, we dedicate the time and resources needed to meticulously untangle complex financial portfolios. Our personalized attention to your high net worth property split means no detail goes overlooked.
Working For You
Our personalized approach means that you will work with the same attorney from the first consultation to the end of your case. Our skilled representation will both advise you regarding case approach and act in accordance with your best interests and goals.
Leverage Your Rights
Working out complex business divisions and enforcing adherence to prenuptial agreements are just two of the ways we can make sure no one diminishes your right to a fair outcome of your high-asset divorce.
Learn More Today
Find out more about how our firm helps clients in Northern Virginia receive fair property divisions in high-asset divorces. Give us a call at 703-763-2645 or reach us online to schedule an initial consultation.