A divorce is difficult for anyone—your family and your life are permanently changing, assets must be distributed, property must be divided, and children must be properly cared for. All of these things can be particularly complicated for couples going through a high net-worth divorce. For those with considerable assets, the task of dividing property, businesses, and finances can be especially complex. Both parties want to ensure that their financial futures are secure and that the division of assets is fair.
At DiPietro Law Group, PLLC, we are committed to helping you preserve your financial security during a divorce. With more than 42 years of combined legal experience, our Fairfax high net-worth divorce lawyers have helped countless couples reach divorce agreements tailored to their unique needs. If a peaceful resolution is not possible, we are prepared to advocate tirelessly for you.
Are you going through a high net-worth divorce? Contact our team online to schedule a consultation today.
How Is Property Divided in a High Net-Worth Divorce?
Much like any divorce, high net-worth divorces involve the distribution of assets. Unless you and your spouse signed a prenuptial agreement or are able to come to an agreement on asset division, any marital property (or property that was accumulated or earned during the marriage) will be divided between the two spouses by the court. Though Virginia is not a 50/50 state in that property is not necessarily divided “equally,” the court will use various factors to determine a “fair” division of property.
When ruling on the division of property in any divorce, including a high net-worth divorce, the family court judge will look at the following factors:
- Both spouses’ monetary contributions to the marriage, including income, the use of separate funds for mutual benefit/benefit of the marriage, and more
- Both spouses’ non-monetary contributions to the marriage, including household services, child-rearing, and any other relevant unpaid work
- The amount and type of assets, including liquid assets, real estate, businesses, investments, and any debts that may encumber certain properties or result in tax consequences
- Any behavior by either spouse that “wasted” marital assets or depreciated the value of marital assets, including hiding assets, destroying shared property, secretly transferring funds, etc.
When determining how assets will be divided, the court will also typically factor in the length of the marriage, the age and health of each spouses, and each spouses’ education level/earning capacity. After weighing these and other relevant factors, the court will assign a “current market value” to all real property and divide these and other properties in a manner it deems “fair.”
Factors Involved in High Net-Worth Divorces
Though high net-worth divorces are typically treated by the court as equal to other types of divorces when it comes to asset division, we understand that there are often complicating factors. Such factors require extra attention and care. Our Fairfax high net-worth divorce lawyers have experience handling the many factors that make high net-worth divorces more complex.
Our firm can assist you with any of the following:
- Multiple real properties, such as vacation homes and/or rental properties
- Businesses, business property, profits, and equities
- 401 (k) accounts, pensions, and other retirement accounts
- Stocks and investment interests, such as stock options and private stocks included in employee benefits packages
- Other high-value real and personal property
In every instance, our goal is to help you preserve your assets and work toward a favorable resolution. We understand, however, that collaborative divorce and mediation are not always feasible. When this is the case, we can represent you and your best interests in the courtroom.
Speak to a high net-worth divorce attorney in Fairfax today; call our office to get started.