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 matters of 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 attorney 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 attorney 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 Rosen Family Law Group, 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 nearly 20 years 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.