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High Net Worth Divorce Lawyer St Charles County MO
All divorces are stressful. For high net worth couples, however, going through a divorce comes with additional complications.
If one or both spouses have accumulated considerable assets during the course of the marriage, it’s natural for them to want to rigorously protect their interests.
Our lawyers at Shea Kohl Law, LLC have years of experience representing our clients, aggressively negotiating and litigating to achieve the best possible outcomes. We’re here to help you through this difficult time.
Issues Affecting High Net Worth Divorce Cases
High net worth divorce cases involve complex, interconnected issues that may not be present in most standard divorce cases.
Here are some of them:
Business Ownership, Valuation, and Division
A high net worth couple’s wealth is typically connected to business assets or interests that need to be valued, divided, reformed, or divested during a divorce. Divorce lawyers typically work with business and financial experts and appraisers who can accurately establish the value of these assets.
Forensic Accounting and Asset Tracing
It’s normal for any married couple’s separate and community property to commingle. However, it can be quite complicated to untangle these assets and restore each one to their rightful owners. During the divorce proceedings, the lawyer will typically work with forensic accountants and financial experts to determine the history of each party’s financial holdings and the extent of their property.
Alimony or Spousal Maintenance
Alimony or spousal maintenance is often a significant issue to be litigated or negotiated during a high net worth divorce. Alimony is typically awarded in cases where one of the spouses is in a better financial situation than the other. The purpose of spousal maintenance is to allow the dependent spouse to maintain the standard of living that they’ve been accustomed to while they were still married.
Copyrights, trademarks, and patents are another contentious issue in a divorce case where one or both of the spouses are artists, athletes, actors, or developers. Intellectual property refers to creative works or inventions, which may not necessarily be tangible assets. Intellectual property rights can be very valuable and even provide a major source of income for years and years to come.
Missouri law regards retirement assets and pension as marital property. Even if the account is solely in the name of one of the spouses, the other party has the right to claim their share. IRAs, 403(b) accounts, 401k accounts, deferred compensation plans, and other similar financial plans are also subject to property division during a divorce. The court shall determine how these assets and benefits will be divided between the spouses.
Most high net worth divorces require expert legal representation precisely because of the issues enumerated above. A capable lawyer can help determine how the law will be applied to certain circumstances and offer creative solutions to protect their client’s financial future.
Property Division in a High Net Worth Divorce
Under Missouri law, all property acquired by either party during the marriage is considered marital property. However, there are certain exceptions to this, such as:
- Bequests, descents, devises, or gifts
- Increases in the value of a property acquired before the marriage unless the increase was a direct result of the other spouse’s labor or marital assets
- Property that was expressly excluded through a prenuptial agreement
- Property acquired after the spouses were legally separated
After each piece of property has been classified as either marital or nonmarital, the court then considers multiple factors when dividing marital property. Some of these factors are: the value of each party’s nonmarital property, economic contributions, and circumstances of each spouse, child custody arrangements, etc.
A lawyer can help their client understand their rights and craft a strategic plan that will allow them to preserve their wealth. The divorce attorney will also employ negotiation and mediation strategies to ensure favorable settlements.
However, in cases where trial or litigation is necessary, the lawyer will also be ready to design an effective plan of attack and pursue a successful outcome for their client.
Why You Should Choose Shea Kohl Law
Our divorce lawyers have the experience and resources to help you understand your rights and protect your interests. We can help you reach a favorable solution and move on with your life from a strong financial position.
As one of the best law firms in St Charles County MO, we have handled countless high net worth divorces. We have extensive experience in dealing with complex property division.
We also have a reliable network of business valuation specialists, financial analysts, and forensic accountants who can help provide evidence that will strengthen your case.
Contact Us Today
To schedule a consultation about your high net worth divorce, call us at (636) 946-9999 or contact us through our online form.
Call Shea Kohl Law, LC at (636) 946-9999
or contact us online to schedule your initial consultation.
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Shea Kohl Law, LC serves clients in Missouri including St. Charles, Troy and Lincoln and throughout Warren and St. Louis counties. We also serve clients in Illinois.