(864) 582-0416 Divorce is never easy, but high-asset couples face unique challenges when property must be divided at the end of a marriage. Protecting your wealth during the transition through divorce requires a deep understanding of South Carolina’s divorce laws and how they impact your assets.
By working closely with a Spartanburg high-asset divorce lawyer, you can move confidently toward your next chapter in life. To learn more about your next steps, reach out to a knowledgeable divorce attorney at Holland & Usry, P.A. today.
Most divorces will involve the division of property and issues involving children when the parties share kids together. Some common issues in Spartanburg high-asset divorce cases will include:
Couples with high income and assets can hold significantly more assets that need to be divided during divorce. Business interests, stock options, investments, trusts, inheritances, luxury vehicles, boats, and valuable art can be worth millions and often require valuation by experts. Determining what shares of these property items are marital and non-marital will further compound the issues and increase the likelihood of bitter disputes.
A spouse emerging from divorce with lower earnings may be entitled to alimony, also referred to as spousal support, to maintain their lifestyle from the marriage. Higher-earning spouses will seek to make sure any alimony order is fair and just, considering their circumstances and all assets available for division.
High-asset couples often have one partner (or both) who must travel frequently for work. A simple 50-50 child custody split can be impractical due to the complex schedules of high-earning partners. Visitation, as well, can be impacted by the schedules and distance between the homes of separated spouses.
In a standard divorce, child support is usually calculated following state guidelines and a review of each party’s income. However, once a certain income threshold is met, the Court has discretion to order child support as may be appropriate based on the facts and circumstances of the specific case. In a high-asset and high-income divorce, child support might need to address things such as private school costs, vacations, summer programs, and exclusive extracurricular activities.
Whenever these issues are part of a high-asset divorce, concealment of financial information is always a concern. Moving assets through secret accounts, offshore investments, cryptocurrency, business entities, and other means are ways that some spouses will seek to minimize their potential net worth during a divorce. A high-asset divorce attorney in Spartanburg with a proven background in complex financial matters can make sure you are fighting on a fair playing field during a divorce case.
High-net-worth divorce cases will involve complex assets and various financial accounts. Meanwhile, they can also involve disputes over various forms of real estate. In addition to the marital home, high-asset divorces can include:
Some properties may be considered non-marital under state law due to inheritance or previous ownership. Properties that start off as non-marital could become marital property through commingling of assets, improvements to a home, titling jointly, and other reasons. Key dates, such as the date of marriage and the date of separation, can help distinguish marital property from non-marital property.
Real estate division during a high-asset divorce is almost never simple and requires the help of a skilled divorce attorney in Spartanburg.
A Spartanburg high-asset divorce lawyer can communicate effectively about your goals and help you understand the legal process involved when valuable assets are at stake. Call our dedicated legal team at Holland & Usry today to get started.
