Very High Net Worth Divorce
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Very high net worth divorce cases commonly involve marital estates that exceed $5 million, excluding the equity in your primary residence. As with high net worth divorces, very high net worth divorces present extremely unique challenges specific to only that couple identifying separate and community interests in assets, valuations of one or more businesses and/or professional practices, and the calculation of income that will be used for determining support obligations, if any.
Arizona is a community property state, therefore, most assets acquired and debts incurred during the marriage will be equitably divided or shared between the parties. However, when a couple has considerable assets, their divorce is more complex than most. Divorce cases for couples with a very high net worth have multifaceted issues that require an in-depth analysis to determine the nature and extent of the assets, income, and debts at issue.
- For example, many complex very high net worth divorce cases involve the distribution and disposition of assets, such as:
- Valuation of Multiple Business Ventures (the serial entrepreneur)
- Multiple bank and investment accounts for personal use and for each business entity
- Enhanced earnings, and compensation packages including employee incentive plans, stock ownership, stock options, restricted stock, Golden Parachutes and dividend income
- Investment and securities portfolios
- Retirement plans, benefits and pensions such as 401(k), 403(b), SEP IRA, Simple IRA, IRA, Roth IRA and/or HSA
- Real Estate including commercial, residential and rental properties and the income generated from each
- Unique or unusual valuable assets such as art collections, wine collections, firearms collections, airplanes, multiple luxury vehicles, collectible cars, motorcycles, ATV’s, toy haulers and/or boats
When significant assets are at stake, divorce disputes can quickly turn combative. Very high net worth divorce proceedings require the skill of an experienced attorney who understands the assets and can protect your interests. Unfortunately, these cases tend to be highly contested and can take more than a year to complete.
Our team of attorneys is experienced in providing the necessary expertise to successfully resolve divorce cases involving very high net worth individuals.It is very important to choose the right team of attorneys to protect your interests.
If you would like to schedule your 30-minute complimentary consultation, please contact Owens & Perkins and discover how our trusted team of award-winning attorneys can help you.