Attorneys With The Skills Needed In A High-Asset Divorce
High-asset divorce cases pose unique challenges, even when they are fairly amicable. The term “high-asset divorce” usually refers to couples with over one million dollars in assets. If you have a high net worth as a couple, you will likely need the help of forensic accounts, tax professionals and a skilled attorney with experience in these types of cases.
At Baskin Kershner & Thorp, LLC, our attorneys have over 50 years of combined legal experience, including experience representing high-asset divorce. We represent clients throughout the Boston area, focusing solely on family law and related matters.
Understanding Assets In A High Net Worth Divorce
Massachusetts is an equitable property state, which means that the court will divide marital property in a fair and equitable manner during a divorce. That may not mean 50/50. Marital property consists of all assets, income and debts you acquired during your marriage, no matter who made the purchase or earned the money. High-value assets have a value that exceeds the norm. Examples include:
- Business ownership – Whether you manage the business together or on your own, your business may be part of the marital property.
- A professional practice – You or your spouse may have your livelihood tied into a professional practice.
- Off-shore accounts or property – Even though it exists overseas, it is still part of the divorce.
- Luxury goods – High-value cars, boats and planes must be properly valued and dealt with.
- Vacation or investment properties – Some couples own property beyond the family home for vacation, rental or investment purposes.
These are just a few examples of assets that may pose a challenge during the divorce process. If you have questions about your own assets, we would be happy to discuss them with you.
What About Hidden Assets?
One issue that arises in high-value divorce cases is the concern that one party may be hiding assets from the court and the other party. They may give money to friends, park money in an off-shore account or try schemes like overpaying credit cards. Such actions are illegal and can often backfire in court. If you suspect your ex has hidden assets, we will employ forensic accountants, private investigators or CPAs to expose their full financial picture.
Looking Out For Your Best Interest
Our team will look out for you and work diligently to make sure you receive a fair settlement that accurately reflects the value of your marital assets. To discuss your case, contact our office online or call us at 617-266-1820 to schedule an appointment.