High Net-Worth Divorce in Pennsylvania
Experienced Pittsburgh Divorce Attorney
When it comes to a high net-worth
divorce, many complex issues are involved. A couple facing a high net-worth divorce
can face complex matters that involve a family business, real estate,
professional practices, stock options, retirement accounts, and more.
The process is all the more difficult if a divorcing couple has not made
a pre-nuptial or post-nuptial agreement. This is why such an agreement,
if properly made, is invaluable.
Pre-nuptial or Post-Nuptial Agreements
The divorce process can be streamlined if a couple has already sorted through
property division, especially when a small business or professional practice is involved.
Not only can having this agreement save a great deal of time and expense,
but it can preserve a couple's privacy and peace of mind. That is
why it is vital for such an agreement to be created with the expert assistance
of a lawyer, one who can help ensure that the agreement will hold up in
court, and that it addresses all the issues it needs to. Ideally, each
spouse should retain their own lawyer to separately review the agreement
to ensure that each party's interests are protected.
Real Estate in a High Net-Worth Divorce
In a divorce, a couple's marital home and any other real estate holdings,
such as vacation homes, investment properties, or commercial properties,
could be subject to equitable distribution. Such a determination would
rest in part on when a couple was married, when they purchased a property,
how much the down payment was, and how the payments were made. After deciding
which property is to be divided, our attorneys can also help you through
such matters as appraisals and comparative market analysis in order to
decide whether to keep a property or to put it on the market. If you and
your spouse cannot reach an agreement on this property division issue,
or if you disagree on the valuation of any properties, then the matter
could be left up to the court to decide.
Professional Practices, Partnerships, and Businesses
The difficulty of a divorce escalates when business assets are involved,
necessitating the involvement of numerous specialists. Forensic accountants
and actuarial experts will have to assess a business's fair market
value, and all manner of records and assets will have to be thoroughly
examined. This means examining general ledgers, equipment, payroll registers,
inventory, real estate, client lists, enterprises, and more. Then there
is the decision of whether or not to keep the business or to sell it.
Whether you want to buy-out your spouse's interest in the business,
sell the business assets, create an annuitized settlement, or achieve
some other resolution, our skilled attorneys can assist you in reaching
the right outcome.
Dividing Retirement Assets
Under Pennsylvania law, it does not matter if a 401(k), 403(b), IRA, or
any other retirement account is under your name alone. These assets could
still be subject to equitable distribution. Usually, you would have to
divide the amount of retirement assets that you have accrued since the
day you married to the day the complaint for divorce was filed. This would
be the case with any deferred compensation plans, pensions, SEPs, and
SERPs as well. Our firm can craft the domestic relations orders you need
to obtain your share of these assets.
Stock Options and Further Issues in a High Net-Worth Divorce
In order to see which, if any, stock options will be subject to equitable
distribution, an attorney will have to find the grant date and vesting
schedule of your stock options. These matters, as well as numerous other
complex issues, must be handled by highly experienced and meticulous professionals.
A legal expert is needed for divorces that include difficult issues in
accounting and taxes, or when an extensive art collection or considerable
investment holdings are involved. Asset valuation, business interests,
life insurance policies, and many other legal matters require the collaboration
of multiple experts to resolve.
Qualified Legal Assistance from Divorce Attorneys
At the Law Offices of Avram Y. Rosen, our legal team specializes in Pennsylvania
family law. If you want to resolve your divorce as privately as possible,
we may be able to help you reach an out-of-court settlement or to go through
divorce mediation. Our divorce lawyers are experienced in handling complex
divorces, and we can help you understand your options and rights in this
process. With more than a decade of experience in family law, our law
firm can provide the expert counsel and representation that you require
for your high net-worth divorce. Contact our firm today to learn more
about how we are prepared to assist you.