Wheeling, WV High Asset Divorce Lawyers
Divorce is full of difficult choices and touchy issues that you must navigate—and the more you have, the more complicated this process can be. Consider a divorce where both parties entered the marriage with nothing and did not accumulate anything over the course of the marriage. While they’ll need to discuss issues of child support and custody, the division of assets is likely to go very smoothly.
But when you and your spouse have accumulated real estate, large investment portfolios, sizable retirement savings, and passive income streams, expect a fight. Both parties want to walk away with what they need for a fresh start.
That’s why it is essential that you work with a Wheeling divorce attorney with experience in high-asset divorces. There’s a lot at stake, and if you don’t have the proper presentation, you stand to lose a lot. Call Pence Law Firm at 304-407-7852 to set up a time to talk to our team now.
Protecting Your Assets During This Process
In most high-net-worth divorces, the division of assets is the most time-consuming and difficult part of the entire process. You have a lot to protect—your marital home, any additional real estate you’ve purchased, the money you have put away for retirement, business shares, vehicles, valuable collections, and more. A lot comes down to negotiation and compromise.
Thanks to our experience with high-asset divorces, we know when to push harder, when to pause, and when to give a bit. We’ll listen to what you want out of your divorce, find out where you are willing to compromise and create a plan that accommodates your needs.
Businesses are often one of the hardest assets to split in this process. If you or your spouse have found success as a business owner, it’s likely that both of you want your fair share—but owning a business with an ex-spouse is a recipe for disaster. We’re here to help with the valuation of your business, careful negotiations that put your best interests first, and collaboration with other experts in this area.
If you have a prenuptial or postnuptial agreement, that will come into play during your divorce. Unfortunately, these agreements aren’t always as cut and dry as they may seem. One party may choose to contest the prenup or postnup, which forces the other party to defend its validity. Whichever side you fall on, we’re ready to advocate for you.
Remember, it’s not just current assets that are being discussed during this process—it’s also future income. Spousal support is often awarded in high-net-worth divorces, especially if one party worked as a homemaker or stay-at-home parent to support the other spouse’s career.
Child Custody and Support Concerns in a High Asset Divorce
Child custody can be an emotional issue to discuss. In many cases, both parents fear that the other one wants to take away their role as a parent. In reality, many couples are ready to share parenting time and work together as co-parents—even if it takes time to get there. At every step in these discussions, the child’s best interests are the determining factor. A number of factors determine what is in a child’s best interests, including:
- Who has been the primary parent in the past
- Each party’s work schedule and other obligations
- Each party’s willingness to have shared or primary custody
- The support network each parent can provide to the child
- Any issues with abuse, substance abuse, or general safety
Work obligations are a common factor in high-net-worth divorces. In these marriages, it’s common for one or both parents to work a lot, work unpredictable hours, and otherwise be unable to provide the routine that a child needs. These issues will definitely come into play if both parents want to be the child’s primary caregiver. However, in general, the court recognizes that both parents have the right to parenting time and meaningful time with their children.
Child support calculations are generally different than they are in standard divorces. Children of high-net-worth couples may attend private school, participate in expensive extracurricular activities, and have other needs that go above and beyond what a standard child support order would include.
Disputes are inevitable in a high-net-worth divorce—what matters is how your attorney approaches them. While courtroom battles are sometimes necessary if the other party is truly unwilling to yield, this approach can be expensive. Additionally, this means that your private matters become publicly accessible.
In many situations, disputes are best navigated with mediation and informal negotiations. Both parties have a vested interest in protecting their privacy, and agreements reached this way allow both spouses to maintain their privacy and confidentiality. Furthermore, these dispute-resolution methods allow the spouses to retain decision-making control over the process.
How Pence Law Firm Can Help You
The end of a marriage is painful, but you cannot let your emotions guide your decisions throughout this process. This is the time to ensure that you protect your relationship with your children and get what you need for a fresh start. It can be difficult to advocate for yourself, especially if you feel steamrolled by your spouse or their attorney, are getting worn down by constant fighting, or have no idea what your rights are.
That’s where we step in. The choices and agreements you make during this time will determine how financially secure you are for the rest of your life. Our team of attorneys is ready to advocate for you every step of the way, involve you in the process, explain your options, and help you prepare for this next chapter.
Explore Your Divorce Options Now—Contact Pence Law Firm
The earlier you consult an attorney during the divorce process, the easier it is for your Wheeling divorce lawyer to fight for you effectively. Let’s sit down and talk about what comes next, what your goals are, and how we can help. Reach out online or call us at 304-407-7852.