Virginia Beach High Net Worth Divorce Lawyers
Our Virginia lawyers help divide complex assets for wealthy couples
High net-worth couples — those with assets in the millions — face special issues when getting divorced. These cases involve diverse asset types, complex income sources and luxurious lifestyles. There is thus more demanded of attorneys to protect their client’s right to a fair share of equitable distribution. At Harding, Harding & Harding Attorneys at Law, our Virginia Beach high net-worth divorce lawyers are skilled at ensuring that equitable distribution is carried out correctly for the benefit of our clients.
Asset division in Virginia high net-worth divorces
Virginia follows equitable asset distribution, meaning marital assets are divided fairly but not necessarily equally. In high net-worth divorces, assets like business interests, real estate, investments and executive benefits are classified as marital, separate or hybrid. Valuing complex assets often requires professional services from forensic accountants and appraisers. There are also tax consequences to be considered. Our Virginia beach divorce lawyers will negotiate or litigate aggressively to preserve your wealth, presenting all pertinent factors, such as your contribution to estate assets and your future needs.
Spousal support in high net-worth divorce cases
Spousal support, or alimony, is often critical in high net-worth cases. Courts consider income disparities, marriage duration and standard of living. Although alimony typically involves monthly payments for a limited duration, lump-sum payments or trust funds may be negotiated to minimize tax burdens. Our Virginia Beach attorneys craft tailored support plans, factoring in military benefits, executive compensation and other sources of income.
Identifying hidden assets
Hidden assets, including offshore accounts, shell companies or undervalued businesses, can complicate high net-worth divorces. A spouse might transfer assets to trusts or third parties. A transfer made at less than market value to place it outside the other spouse’s reach is fraudulent and can be unwound. Virginia law allows discovery sanctions for concealment. Our firm retains forensic accountants to trace funds, uncover discrepancies and detect hidden wealth, in order to protect our clients’ rightful shares.
Impact of prenuptial and marital agreements for high asset couples
Prenuptial and postnuptial agreements outline asset division and support in order to prevent conflicts during divorce. In Virginia, agreements must be voluntary and fair to be enforceable. Courts may void agreements that appear to have been products of fraud or coercion. Our attorneys review prenups and postnups to gauge enforceability, challenging any contract executed under dubious circumstances.
Privacy concerns in a high net-worth divorce
High net-worth divorces risk public exposure due to court filings. Privacy can be protected by the use of alternative dispute resolution methods, such as mediation and collaborative divorce. It is sometimes possible to have the court seal financial documents. Our firm uses nondisclosure agreements and private arbitration to shield sensitive details, with the aim of protecting reputations and business interests.
Contact a Virginia Beach attorney for high net-worth divorce representation
Harding, Harding & Harding Attorneys at Law provides representation for high net-worth divorce clients in Virginia Beach, Chesapeake, or Norfolk. To schedule an appointment for a free initial consultation, call 757-499-2600 of contact us online.
