A High Net Worth Can Make Divorce More Complex
Couples with high net worths have unique legal needs when they divorce. This makes it even more important to choose a legal team that has specific experience with high-asset divorce. At Talley, Turner, Stice & Bertman in Oklahoma City, we have decades of combined experience and work as a team to resolve each case we accept.
What Do You Want To Protect In The Divorce?
Couples in high-asset divorces have sophisticated assets that go beyond the marital home and a savings account. In these cases, we work with clients who have accumulated marital assets such as:
- A primary home and a second home
- Vacation home or condominium
- Investment real estate
- A business or professional practice
- High-end vehicles
- Expensive furnishings
- Valuable collections, like artwork, jewelry or rare coins
- Private jet or ownership in one
- Undeveloped land
- A ranch and livestock
- Oil and gas mineral rights
- Life insurance policies
- Pensions or retirement savings accounts
- Investment accounts
- Liquid bank accounts
- Digital assets, like cryptocurrency
Of course, you may have other assets that are not on this list. Just speak with us about them, and we can determine how to help you protect them.
Your Divorce Lawyer Must Have Experience With Complex Assets
Any assets listed above can be difficult to divide. To ensure that we seek everything you are entitled to, we often work with experts in fields such as business valuation, real estate, valuable collectibles, stocks and investments, accounting and more. When there is suspicion that one spouse is hiding or wasting assets, we will work with a forensic accountant. Regardless of the type of assets you have, we will accurately determine their worth and strategize the best way to retain your ownership of them. It is crucial that this process is thorough and exact; if mistakes are made or assets are missed, you may not get your fair share of them.
Who Has The Larger Income?
In some couples, each person has a lucrative career. In other cases, however, their incomes may differ vastly or one spouse may not work at all. Dividing the marital property and finances in the latter situation is typically a complicated endeavor in a divorce.
At Talley, Turner, Stice & Bertman, we have handled hundreds of divorces in which one spouse earns considerably more than the other. We know both sides of these cases and can vigorously represent either party in a divorce. We are a team of divorce lawyers who share experience and knowledge to build a strong case, no matter which side our client is on.
Spousal Support Will Also Be A Factor In The Divorce
When the parties in a divorce have significantly different salaries or net worths, the judge typically grants spousal support to the lower-earning spouse. The idea is to help them transition to life as a single person or to support them as they educate themselves and/or find a job with a living wage.
It is very common for the lower-earning spouse to feel entitled to more of the other spouse’s money and assets. They have been living a very comfortable life, but now that person may face greatly reduced circumstances.
No matter which side you are on, you need a tough, smart attorney to protect your rights, property, money and lifestyle. We have represented people on both sides of divorce, and we know what the other side is likely to do. You can trust in our experience.
Child Support Can Lead To Conflict
When parents are wealthy, their children typically lead lives filled with very nice homes; expensive vacations; upscale clothing; pricy hobbies, such as skiing or horseback riding; and private tutors or coaches. They may attend private school and are expecting to go to a college that is also expensive.
Divorce may mean the end of some of the lifestyles that they were enjoying. The lower-earning spouse may request a higher amount of child support so that the children do not have to give up everything. Sometimes, this results in disputes because the high-earning spouse does not want to give their soon-to-be-ex control of that much money or they think their spouse will spend much of it on themselves.
You need an experienced attorney to address these concerns. We have the knowledge to calculate what is fair in these situations.