High-Asset Divorce Lawyers in Madison
Assistance with Complex Legal Matters
Dividing property is an important step in any divorce case. You have shared years of your life with your spouse, and over that time, have accumulated assets that you share as a couple. When a marriage ends in divorce, that property must be divided between the two parties.
Marital property division, in general, is complicated but it can be more complicated when the marital estate is large and made up of more complex assets, like business interests, stock options, or other equity components of a person’s employment.
At Balisle Family Law Legal Counsel, S.C., our attorneys have extensive experience with high-asset divorce cases. We understand the issues at hand and can provide sound advice on your situation.
To schedule a consultation, contact us online or call (608) 765-1001.
What is a High-Asset Divorce?
In general, a high-asset divorce is any divorce case in which the couple owns significant property, and often includes a substantial income or access to other funds. The term can also be used to describe circumstances in which a couple owned real estate, a business, or other, more complex property. Couples who are involved in a high-asset divorce case must do more than determine “who keeps the house” — high-asset divorce cases require high-level decision making and analysis tailored to dividing that specific type of asset.
A high-asset divorce case may involve property such as:
- Real estate
- Businesses and partnerships
- Stocks, stock options, and other equity
- Certain tax benefits
- Retirement plans and pensions
What Assets Are Generally Subject to Division in a Divorce?
When determining how property will be divided in a divorce, assets are categorized as either “marital” or “non-marital” (non-marital property may also be called “individual” property). Generally, only marital property — property acquired both before and during the marriage — is subject to division. Property that is not marital would ordinarily include traceable gifted or inherited property that has been kept separate during the marriage. However, exceptions may be made given several unique circumstances in each marriage that your divorce attorney will evaluate.
Using a business as an example, consider the following scenarios:
- A couple founded a business during their marriage and each spouse equally contributed to its growth. The business would be considered marital property and would be subject to division in a divorce case.
- A person inherited a business from a deceased family member. This would generally be considered individual property , but a case for considering it in the property division in some way could be made depending on the spouse’s contributions to the business.
- A person brought a long-term business to their marriage. The marriage was very short and during the marriage, the spouse who brought the business to the marriage handled all business activities separately while the other spouse had his or her own career. Generally, this business would be considered marital property, but a case could be made to adjust the property division in some manner.
Every divorce case is different, and the unique circumstances of each case can impact how property will be divided. It is important to consult with a skilled attorney regarding the details of your case.
Why It’s Important to Hire an Attorney with High-Asset Divorce Experience
If your divorce case involves high assets, choosing an attorney with past experience in handling high-asset divorces can make a difference in the outcome of your case.
High-asset divorces are complicated because of the sheer volume of property, and the importance of understanding the marital standard of living in each unique case. Additionally, these types of cases often involve complex real estate, business, and stocks — they require specific knowledge to sort through the details and arrive at a solution.
Additionally, there is often a more substantial evidence-gathering element to high-asset divorce cases as well. It is not uncommon for one person in an affluent marriage to have no idea how much their spouse really makes or how much, or even what property they own. These details are essential for making decisions about property division, child support, maintenance, and more, so the help of a knowledgeable lawyer is crucial.
For these reasons and more, trust Balisle Family Law Legal Counsel, S.C. with your high-asset divorce case.
If you are going through a divorce and are overwhelmed by the idea of dividing your assets or receiving proper support from your spouse, Balisle Family Law Legal Counsel, S.C. can help. Our team is available to answer any questions you may have and can help you get started today.
Call (608) 765-1001 or send us a message to discuss the details of your case with our Madison high-asset divorce attorneys.