Prioritizing Your Wealth
TATARSHA D.HARRIS
Real estate can create the most complex questions in a high asset divorce case, especially if the divorcing couple has children. Maryland courts like to see the children remain in the family home, so the parent who wins majority custody, may remain in the family home. Couples with multiple real estate properties may use them as bargaining chips during their high asset divorce negotiations. Whether the property is in Maryland, other states or even outside of the country, which requires an expert appraisal is a likely requirement.
Finally, confidentiality may be a concern for high profile clients. The typical divorce does not require a NonDisclosure Agreement, but your divorce may. T Harris Law, is prepared to help you navigate the road ahead, whether you need a team of experts or an ironclad NDA. Call us today to prioritize and protect your wealth.
Another complicated aspect of high asset divorces is the division of retirement accounts and other investments. Retirement assets are exceedingly diverse and range from your typical 401k to lucrative cryptocurrency accounts. Simply cashing out these accounts and dividing the proceeds is not always the best decision due to significant fees and tax penalties. Wealthy couples should be aware of the tax the advantages and disadvantages of divorce and may require a financial and/or tax expert or both.
High Asset Divorce
High-asset divorces involve multiple properties, extensive savings, businesses, trusts, investments, and other valuable assets. These cases are more challenging because the division of marital property takes longer and is more complicated when compared to a typical divorce. The process requires more time in court, more legal fees, and higher court costs.
