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High Asset Divorce

Recent Posts in High Asset Divorce Category

  • Reasons Why a Prenup May Be Invalidated

    If you paid attention to the news back in 2013, you may have read about how a Brooklyn court threw out a couple’s prenuptial agreement signed by a Long Island woman in 1998 before marrying a millionaire. This court action set a precedent and divorce attorneys across the country took notice. Have more prenups been tossed out of court since? While we can’t say if there has been an uptick in prenups ...
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  • Divorce: Do You Need a Forensic Accountant?

    If you’re a high-net-worth individual, your divorce will be distinct from traditional divorces. Your divorce will be more complicated for one reason and one reason alone: the sheer volume of assets involved. So, does this mean that you’ll benefit by adding a forensic accountant to your divorce team? First, let’s discuss what a forensic accountant is and what they do. Justin Pope of the Associated ...
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  • What to Do With a Business in Divorce

    It’s common knowledge that entrepreneurship can be a daunting task and a large percentage of new businesses fail in the first five years. If you have built a business from scratch and it’s turned into a successful venture, you are probably very attached to the business. The business probably feels like your “baby” and your employees, like your second family. But now that you’re facing a divorce, ...
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  • Wasteful Dissipation of Marital Assets in Nevada

    As emotional as divorce is, it’s actually a business transaction because it’s all about the division of assets and debts . While Nevada is technically a community property state where both spouses are entitled to a 50% interest in all assets and income acquired during the course of the marriage, marital waste or “wasteful dissipation of marital assets” is one factor that can change how community ...
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  • 2019 Changes to Tax Treatment of Alimony

    Alimony is financial support a higher-earning spouse pays to support a lower-earning spouse during or after a divorce, or both. In Nevada, the family court will consider awarding alimony if one of the spouses is unemployed, not financially stable, or for some reason, unemployable. Alimony is not automatic in a Nevada divorce , but if a lower-earning spouse asks for it, the judge will consider the ...
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  • Special Challenges with CEO Divorces

    The lifestyles of CEOs are typically quite different than other people’s. Usually, CEOs have full schedules and travel frequently for work. By the nature of their high-level position, they lead extremely busy lives. Unfortunately, the hectic CEO lifestyle can lead to trouble at home, and this is no mystery to Boards of Directors. Representing a CEO during his or her divorce is unique from other ...
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  • Divorcing? Why You May Want to Hire a Forensic Accountant

    Some Nevada divorces are simple – they involve a house, bank accounts, two automobiles, and perhaps one or two retirement accounts. Other divorces, especially high net worth divorces , are more financially complex. High-asset divorces often involve the standard assets mentioned above, but they may also involve restricted stock, businesses, life insurance policies, multiple real estate properties ...
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  • Could Current Tax Laws Help My High Asset Divorce?

    By now, a lot has been written about the recent changes in tax law, and how those changes could affect divorce specifically . While conventional wisdom suggests that these changes will make divorce proceedings more difficult, especially where spousal support/alimony is concerned, what you may not know is there are actually provisions in modern lax laws which may make some divorce proceedings ...
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  • How Do I Protect My Retirement Savings in a Divorce?

    If you are entering into a divorce but have been diligently saving for retirement, you may be justifiably concerned about holding onto your assets. This concern often becomes even more complex in high net worth divorce cases , in which there may be more on the line in one spouse’s 401(k). If you have significant savings in your 401(k) which you are concerned about losing in a divorce, keep reading ...
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  • Could Cryptocurrency Affect My High Asset Divorce?

    Anyone who has followed technology and financial news over the past few years is likely familiar with cryptocurrency, i.e. digital money which is encrypted to generate units of currency and verify the transfer of funds without operating through a central bank. Yet for individuals entering high net worth divorces, cryptocurrency is quickly moving away from being an exciting possibility of the ...
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  • Liquidating Your Assets in a Divorce: Everything You Need to Know

    Divorce is almost always a complex and emotional undertaking, but when there is a lot at stake financially, an additional layer of stress is often added to the proceedings. In high asset divorces , it is especially important to hire an experienced lawyer who will be able to asset you in liquidating shared assets and paying off joint debts. While this process may be complicated, it is likely to ...
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  • How Will the New Tax Law Affect Alimony in High Asset Divorces?

    Under the new tax law which went into effect on January 1 st , alimony payments may never be the same in the U.S. Prior to 2019, a spouse making alimony payments under 26 U.S. Code § 71 was able to deduct those payments when filing their taxes, whereas the spouse receiving those payments would have to include alimony payments under taxable income. Under the Tax Cuts and Jobs Act, spouses making ...
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  • The Top 6 Issues in High Asset Divorces

    Divorce is complicated no matter what the circumstances are. However, high net worth divorce cases are particularly complex , given the level of assets couples are generally forced to divide. As the old saying goes, more money, more problems. Yet while you may have 99 problems, your divorce doesn’t necessarily have to be one, with the Henderson divorce attorneys from Ford & Friedman . Our skilled ...
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  • $137 Billion Is on the Table in the Bezos Divorce

    $137 billion is currently on the table in the divorce proceedings between Amazon CEO Jeff Bezos and his wife, Mackenzie Bezos, as that is what the tech magnate is currently worth. This development arrives just a year after Bezos became the richest person in the world. Although the news has yet to reverberate on Wall Street, Amazon investors are likely still waiting to see how settlements will ...
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  • Is a Personal Injury Award Divided in a Nevada Divorce?

    When it comes to a divorce with significant assets, one of those assets may include a personal injury settlement. Although the award may be meant for the injured spouse, all assets and property accumulated during the marriage are considered marital property. So how is a personal injury award divided in a Nevada divorce? If the injured spouse obtained the personal injury settlement before entering ...
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  • 7 Common Signs Your Spouse is Hiding Assets During Divorce

    When it comes to divorce , especially a high-asset separation , there is a lot at stake. One spouse may hide valuable assets to prevent them from being subject to property division or accounted for alimony or child support . However, this type of behavior is illegal. Lying about your finances and lying under oath can result in severe penalties, which includes time spent behind bars. In most cases, ...
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  • The Role of a Forensic Accountant in a Divorce

    If you are involved in a high-asset divorce , the division of marital property can be comprehensive, to say the least. Although a knowledgeable divorce lawyer can provide effective assistance with dividing property, professional assistance from a forensic accountant can help you tackle the most complex financial situations. The role of a forensic accountant on your team is to assess and disclose ...
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  • How to Protect Your 401(k) in a Divorce

    If you’ve worked hard your whole life to build up a substantial savings for retirement, a divorce can be devastating. Nevada’s community property laws state that all property acquired by both spouses during the marriage is subject to equal division, and that means you could stand to lose up to half of your retirement savings. This is a particularly worrying trend for those who are getting a ...
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  • Do You Need a Prenuptial or Postnuptial Agreement?

    Talking about prenups and postnuptial agreements certainly isn’t the most romantic conversation, but it can be necessary and extremely beneficial. Not all couples consider establishing a marital agreement or want to think about a future involving divorce , but perhaps they should. The typical idea is that prenuptial or postnuptial agreements are established for the wealthy, and while there is a ...
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  • How Are High-Asset Divorces Handled Differently?

    Although each divorce has its own set of obstacles, high-asset divorces tend to be more complex than most. When a couple shares a large number of properties or funds in their marriage, the division of those assets in a divorce can become complicated and may take longer to handle. If you have a large amount of individual or shared assets in your marriage, make sure you deal with your high-asset ...
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  • Preparing for a high asset divorce

    One word that is not used often when describing a Nevada wedding engagement is "cautious." However, financial advisors say that if more couples used caution before getting married, there may be fewer people left with depleted bank accounts after a high asset divorce. Divorce is costly, and the financial ramifications can be avoided with good planning. Prenuptial agreements are not popular topics ...
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  • Separation: a useful tool that can help you decide on divorce

    Correct Terms Many people may muddle the words " separation " and " divorce " in their heads, but actually these are two distinct legal processes that relate to family law. A divorce is the end of a marriage -- it leads to the legal dissolution of the marriage. But a separation agreement is different. The marriage stays intact and the separated couple, though living under divorce-like conditions, ...
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  • Modifying your divorce arrangement is part of life

    Divorce is one of the those processes that most people want to get done quickly and then never think about again. This is understandable for the most part because it is a difficult process that obviously involves a lot of emotional elements and anxious moments. People want to move on with their lives -- but first they have to get this difficult legal act done. Part of completing a divorce involves ...
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  • Dollar amount not all that matters in high-asset divorce settlements

    Divorce settlements differ greatly from one another. Some deal with relatively small amounts of property. Others though can involve incredibly, or possibly even astronomically, high dollar amounts. Just how much in the way of assets divorce settlements can end up dealing with can be seen in a recent article on Money’s website. The article contained a list of the most expensive divorce settlements. ...
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  • On spousal support and the tax implications of it

    There are so many factors that can be involved in any given divorce. There's child custody and child support; there's alimony and property division; there are prenuptial agreements and family businesses. Depending on the case, certain elements will be prevalent. Others will not. We say all of this in the context of spousal support, which can be very helpful for people who are trying to ...
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