High Asset Divorce
For couples that dissolve a marriage after accumulating a significant amount of assets, the task of dividing property and financial resources can be daunting. Such high-asset divorces often require disclosing and evaluating retirement funds, businesses, mutual funds, and other complicated joint holdings. At Reddin & Singer, our divorce lawyers are skilled in helping Milwaukee individuals protect their interests and rights throughout this process.Finding and Evaluating Property When a Marriage Dissolves
In a divorce where many assets are involved, one of the most time-consuming initial tasks may be properly identifying all of the property that must be divided. While no one wants to consider the possibility that one partner may be hiding or sequestering assets, the reality is that this may become a problem when a marriage is not ending on amicable terms. For instance, one partner may attempt to transfer stocks or cash into accounts under another name or offshore bank accounts. Or a former spouse with a high-paying job may attempt to defer compensation or bonuses in order to avoid having that money considered during a divorce.
While it is possible to accurately identify all relevant assets, it may take the expertise of a qualified attorney to do so. At Reddin & Singer, we have handled several clients negotiate multi-million dollar divorces and are familiar with the common ways that funds may be transferred or moved around. If necessary, we may even hire investigators to do a thorough inspection for possible hidden assets.
Even after all assets involved in a divorce are identified, the parties must still engage in the technical process of accurately valuing them in order to determine how they should be divided. For instance, if a couple jointly owns a business or shares possession of an expensive professional license, these must be carefully assessed in order to determine their value as compared to physical types of property, such as a home or vacation residence. Often, these valuations must be supported by the testimony of experts or the introduction of evidence before they will be accepted at court during a divorce proceeding. An experienced attorney can guide you through this process and provide a network of experts and consultants who can ensure that you receive fair value for the assets you obtained during a marriage.Prenuptial Agreements
An added complexity in many high-asset divorces is the presence of a prenuptial agreement. This is a signed document that is completed prior to marriage and explains how financial assets will be managed during a relationship or in the event of divorce. They may be used by anyone, but they are more common when one partner has significantly more property or income than the other. A prenuptial agreement can be used to protect assets that one spouse controlled before entering into a marriage, such as a trust fund or individual business. It can also be used to retain property that has significant emotional meaning, such as art, antiques, or a personal inheritance. Although Wisconsin law recognizes and enforces prenuptial agreements, they can be voided if they were entered into under duress or if one party did not fully disclose the true nature of his or her property when preparing the document. If you are seeking to ensure that a prenuptial agreement you created is followed during a divorce, or wish to contest an arrangement that you believe is unfair, hiring a knowledgeable attorney will be very important.Protecting the Rights of Milwaukee Individuals During Divorce
If you are contemplating the possibility of ending a marriage and are concerned about how your property will be divided, contacting a legal professional who is skilled in high-asset divorce is an essential first step. At Reddin & Singer, our family law attorney Terese Singer has over two decades of experience assisting Milwaukee residents in smoothly resolving divorces involving significant assets and high net worth. She understands how to evaluate the property accumulated during a relationship and pursue a division that is satisfactory to you. For more information or to schedule an initial consultation, contact us at (414) 271-6400 or online.