Clarksville High Asset Divorce Lawyer
Any divorce can be complex, though the various issues in a case can become even more complicated when a married couple has substantial assets. Many people may have high assets, including doctors and surgeons, CEOs and business owners, entertainers, athletes, and people who inherited significant wealth. Assets can take many forms, making it difficult to properly divide the assets - or even to identify everything a couple owns. It is essential to have the assistance of an experienced high asset divorce lawyer if you are in this situation. Contact McFarland Law in Clarksville for more information about how we can help.
Under Tennessee law, divorcing couples must “equitably” divide all marital assets and property. Ensuring a fair division of property can be more challenging for high-net-worth couples, as many unique issues may arise.
Prenuptial Agreements - If one or both spouses had wealth prior to the marriage, or they anticipated a windfall inheritance, they may have signed a prenuptial agreement that addresses property division and support. A lawyer should evaluate your rights under the agreement and whether the agreement is enforceable.
Identifying Assets - Many people spread wealth throughout many types of assets, including investments, offshore accounts, real estate, valuable collections, and more. It can take work to identify each and every financial account, piece of property, and possession that should be divided.
Separate v. Marital Property - You must determine which assets are considered to be separate property (which each respective spouse keeps) or marital property (which will be equitably divided). This requires a close look at what was owned prior to the marriage, whether funds were commingled, and more.
Division of Marital Property - Dividing certain types of assets and property can be more difficult than others. High asset divorces may involve multiple homes, boats and recreational vehicles, and significant business interests, among others. Determining what type of division will be equitable when it comes to complex assets can be a challenging process.
Spousal and Child Support - Spousal support is routinely a contested issue in high asset divorces. Whether you deserve alimony or your spouse is requesting alimony, you should have the right attorney on your side working for a fair determination. In addition, child support could become a larger issue if one parent has significant wealth. Generally, child support is calculated based on a formula set out by Tennessee law. However, if there is a high standard of living involved, parents can request that the court deviates from the standard calculation to maintain the prior standard of living for the child.
There can be other issues that arise in high asset divorces, depending on the circumstances.
At McFarland Law, Clarksville divorce attorney Ryan K. McFarland aims to handle every case, including high asset divorces, in the most efficient manner possible while ensuring a fair outcome for every client. Please call the office at 931-919-4376 or contact us online to schedule a consultation.