High Asset and High Net Worth Divorce in Massachusetts
Dividing marital property can be complicated, but in a high asset divorce, there are a several factors that can turn an otherwise simple divorce into a tangled web of litigation.
High net worth clients need much more than an average attorney because standard legal representation is not enough when complex financial issues are involved. If your divorce is mishandled, your personal, financial, and professional future may all suffer serious consequences.
In order to arrive at a fair division of assets, high net worth individuals need the expertise of an experienced Massachusetts divorce attorney, one who understands not only how to fairly value the business but also how to protect the enterprise and the client’s ownership interest.
Business assets can be notoriously difficult to value, and even harder to divide fairly. When one or both spouses own a business, the value of the business needs to be taken into account and an appraisal is often necessary. Who will keep the business and whether the other spouse will still be entitled to a share in the revenue stream are all questions which need to be addressed. In many cases liquidating the business is not a smart, or even a possible, option.
A business appraisal will consider these factors when valuing a business:
- Earning capacity
- Net worth and current financial outlook
- Earning and expense history
- Dividend paying capacity
- Type of business and economic outlook for that industry
Often times there may be hard to value assets in a high net worth divorce such as intellectual property, art, antiques and other types of collections. A closely held small to mid-sized business can sometimes involve hidden assets which are not reported on the books of the company.
When necessary we will often assemble an experienced team of appraisers to assist with valuing marital assets and forensic accounting specialists who are able to trace hidden assets.
In any high-asset divorce proceeding, our goal is to help you understand your rights and develop a smart, strategic plan to preserve wealth. To learn more about our approach to high asset and complex divorce and what it could mean for your situation, call us today toll free at 978-851-2291, or contact us online to schedule a consultation.
For your convenience, appointments may be scheduled during flexible hours. Our office is centrally located in Tewksbury near Route 93 and Route 495. We serve clients in Middlesex and Essex County.