Divorce with high-value assets: 3 questions to ask legal counsel

On Behalf of | Mar 29, 2024 | Family Law

While most envision a lifetime of marital bliss after tying the knot, reality sometimes changes a relationship enough to warrant a permanent split. If you have never gone through a divorce, you can expect to weather a few challenges if your marriage is at an end – perhaps especially if valuable marital property is at stake.

Navigating a high-net-worth divorce and securing a fair outcome requires accurate and current legal knowledge. Seeking answers to any property division questions that you may have, possibly including the following, can help you safeguard what is yours.

Are my inherited treasures at risk?

Multigenerational wealth passed down through your family deserves safeguarding. Inheritances generally remain yours during a divorce unless they become intertwined with marital assets. Such commingling can happen unintentionally, like depositing your separate inherited funds into a joint account.

Will I lose my premarital investments?

Similar to inherited assets, premarital investments can be at risk if mixed with marital property. For example, transferring funds from your premarital brokerage account to a joint account potentially converts them to marital property, possibly leading to an unbalanced property settlement.

How about my international assets?

Although diversifying your portfolio with international assets offers lucrative rewards, it may complicate your divorce proceedings. Kentucky’s equitable distribution laws will likely play a role in dividing international property between spouses – but the laws of the country where offshore assets reside could also be relevant.

Remember, protecting your financial future is paramount in a high-asset divorce. A legal representative can explain your options and formulate strategies to safeguard your separate assets while helping to ensure that you receive a fair share of your marital estate. Don’t hesitate to ask questions and to safeguard your interests as effectively as possible.