In high-asset divorces, the significant value and intricacy of the financial holdings require a careful, strategic approach to ensure a fair settlement. The key considerations for identifying, valuing, and dividing a myriad of assets in these cases go far beyond those of a standard divorce. A skilled Connecticut high-asset divorce lawyer works with forensic accountants and business valuation specialists on these complex matters to ensure clients’ financial futures are protected.
For individuals with significant financial holdings, such as CEOs, entrepreneurs, and other professionals, effective representation is critical for reaching a favorable outcome. Our divorce attorneys have extensive experience handling sensitive information and coordinating with financial experts to protect substantial assets.
A Connecticut attorney from our team can help address the common challenges that arise in a high-asset divorce.
Unlike standard property, high-asset divorces often involve complex assets that are difficult to value and divide. These can include privately owned or closely held businesses, stock options, restricted stock units, deferred compensation, multi-generational trusts, valuable artwork, antiques, and collectibles.
Determining the true fair market value of these assets requires the use of forensic accountants, appraisers, and other experts, which can significantly increase the cost and time required for the process.
Courts in the state consider several factors to divide property fairly, including the length of the marriage, the cause of the dissolution, and each spouse’s occupation, income, and contributions to the assets. If the marriage was long, the division of assets may be more equal, but a judge has broad discretion in determining how to value and divide assets.
Some parties may attempt to hide assets to avoid disclosing them during the divorce. We can hire a skilled and experienced forensic accountant to uncover hidden sources of wealth potentially concealed in offshore accounts, shell corporations, or complex financial structures.
In Connecticut, all property owned by either spouse, regardless of when or how it was acquired, can be subject to equitable distribution. This creates a challenge for protecting premarital property, gifts, or inheritances, which may lose their separate status if they have been commingled with marital funds.
While prenuptial agreements can provide clarity, they are not always ironclad. A Prenuptial Agreement can be challenged if it was not signed voluntarily, if there was inadequate financial disclosure, or if a court finds the terms to be unconscionable at the time of enforcement.
Unlike some states, Connecticut does not use a fixed formula to calculate alimony. Instead, a judge weighs many factors, including, but not limited to, the length of the marriage, the couple’s financial situation, age, health, and earning capacity. If the asset division provides the non-earning or lower-earning spouse with sufficient resources to support themselves, the court may award less or even no alimony.
The state’s child support guidelines may not apply when parental incomes exceed the maximum threshold. In these situations, a judge has more discretion in determining an appropriate amount of support, based on the child’s needs and the family’s standard of living.
Our divorce attorneys regularly work with experts to verify income when determining alimony and child support in high-asset cases in Connecticut. Consulting an expert early in the case provides a more accurate financial picture, helping to streamline the discovery process and strengthen your negotiating position. A failure to properly assess income and asset values could drastically impact alimony and child support obligations.
A Connecticut high-asset divorce lawyer can negotiate on your behalf to reach a favorable out-of-court settlement, which can be less costly and less emotionally draining than litigation. When a divorce involves the division of substantial assets, a settlement can also be a way to protect your privacy.
Options like mediation and collaborative law can be faster, less adversarial, and more private than traditional litigation. If a fair settlement cannot be reached, the attorneys at Broder Orland Murray & De Mattie LLC will advocate for your interests in court, presenting evidence to support your position on property division, support payments, and other critical issues. Contact our legal team today to request your confidential case consultation.
(203) 222-4949 