High Asset Divorce
Marriage is more than just a legal relationship. It is a financial one as well. As such, financial concerns are often at the forefront in a divorce: What will happen to the family business? Will I lose everything I’ve worked so hard for? Are there assets I don’t know about?
Divorce is difficult enough without worrying whether the assets accumulated during marriage will be dissipated in a divorce. Division of property in a divorce is much more complicated than adding up the value of assets and dividing by two. This is especially true when a divorcing couple has a high net worth.
The division of assets in divorce can carry serious tax implications. As difficult as it may be to lose a valued asset to the other party in a divorce, it is still more painful to see wealth lost needlessly because of poor tax planning.
Attorney Deborah L. Ruby has an MBA in finance. She is well connected with local accounting firms, appraisers, and business valuation specialists. Our firm is uniquely well-positioned to help clients understand the financial and tax implications of their divorce, as well as to minimize negative financial impacts of divorce. In cases where there is a suspicion that assets may have been concealed or transferred, we are experienced in identifying and searching for such assets.
Our firm assists clients with issues relating to:
- Valuation of family businesses
- Valuation of professional licenses
- Stock options and deferred compensation
- Variable or seasonal income
- Verification of income from all sources
- Division of retirement accounts such as 401(k)s
- Valuation and sale or refinancing of a marital home
- Valuation of rental or vacation properties
- Enforceability of prenuptial agreements
- Identifying the marital portion of high-value assets
- Distribution of joint liabilities
We recognize that divorce is about far more than money, but we are also aware that the financial implications of divorce can have far-reaching effects on our clients’ ability to move forward successfully with their lives. For that reason, we consider it essential to offer our clients comprehensive guidance regarding divorce and their assets and to help them connect with any financial professionals needed to help them make the best possible decisions.
Ruby & Associates is committed to helping our divorce clients move on with every aspect of their lives, including preserving their financial well being. To learn more about how we can help you, contact our office at (330) 867-1405.