If you and your former spouse have accumulated high-value assets and are dissolving your marriage, dividing those assets may prove to be difficult. You may be concerned about how businesses, real estate, personal property, retirement, or other investment accounts will be divided, and if you will be treated fairly through the dissolution process.
Fortunately, calling a New Haven high-asset divorce lawyer early in the process can help, especially if you have significant assets to protect. An experienced divorce attorney can advocate for you throughout settlement negotiations and court hearings to protect your rights as you navigate your separation.
While Connecticut uses equitable distribution to split property in a divorce, courts have a great deal of power to assign property during proceedings. Under Connecticut General Statutes § 46b-81, family courts have discretion over most property belonging to both spouses, including high-asset belongings, whether it were acquired before the marriage or through a separate enterprise.
High-value assets may include one or multiple businesses, real estate, property that belongs to a larger family group, or other investments that have appreciated significantly over the duration of the marriage. Because there is a lot at stake, individuals with high-value assets or high net worth might find the process of dividing these assets more complicated than a regular divorce.
However, a qualified attorney in New Haven can help an individual understand their options and help the parties reach an amicable agreement in dividing their high-value assets.
High-value assets may lead to complications in a divorce, including disagreements about how much each piece of property is worth and how to equitably divide the assets.
Other issues that sometimes arise in high-asset separations include submitting low-ball or unfair assessments of the value of property or failing to obtain an objective value of the marital property.
A divorce court may treat a spouse who hides assets unfavorably or even hold that person in contempt of court. It is always in the best interests of both parties to provide accurate and full disclosure—however, the stakes are greater in divorces where there are highly valued assets, and it is important not to make costly mistakes.
Another mistake both parties should try to avoid is attempting to rush through property division in a high-asset divorce. A divorcing spouse may want to get the matter behind them, but the individual can end up with regrets by leaving too much on the table during settlement negotiations.
An experienced lawyer in New Haven can help anticipate some of these problems before court proceedings have begun and help ensure that high-value assets are properly accounted for during the divorce.
If you are considering divorce and own highly valued property, such as a business, company, real estate, investments, or other accounts, consider contacting legal counsel as soon as possible.
A New Haven high-asset divorce lawyer can investigate prior to and assist you during court proceedings and settlement negotiations to uphold your rights and fight for an equitable separation. Schedule a consultation today.