Meet The Challenges Of Your High Net Worth Divorce

All divorcing couples have critical financial and legal matters to resolve that can affect their quality of life as soon-to-be-separate individuals for years to come. Working with a skilled family law attorney is critical. This is especially true in the case of a high net worth divorce. I am Jason P. Reese, an experienced lawyer in Canton. I am known as a caring, tough attorney because I care about my Ohio clients. The Law Offices of Jason P. Reese LLC is equipped to handle tough issues such as division of property in high net worth divorces.

Identify All Marital Property

The core concerns in every divorce are the division of marital assets and debts, determination of spousal support, if applicable, and when there are children of the marriage, custody and support. Classifying assets as separate versus marital assets is the first step in property division for working class, middle class and upper-class couples. Valuation of assets such as businesses is the next — and very important — step. This task often proves challenging in a high net worth divorce.

Understand What Is At Stake

Stakes are high for divorcing individuals of any income level, but where there is high net worth, the outcome of a divorce can involve assets valued at many hundreds of thousands of dollars — or millions. I have ample experience representing my clients through the vital and vigorous process of dividing assets and debts.

Account For All Marital Assets

A couple in a higher income and asset bracket will typically have to account for complex property such as:

  • Retirement assets, including pensions, 401(k) savings accounts and individual retirement accounts (IRAs)

  • Bonuses and commissions, including those that will be paid out far in the future
  • Executive compensation packages, including deferred compensation
  • Stocks and stock options
  • Business ownership
  • Real estate holdings, often including a high-priced marital home, perhaps a vacation home, commercial real estate holdings and other investment properties
  • Time shares and other
  • Collectibles, jewelry, guns, recreational equipment and other valuable belongings
  • Vehicles with substantial value

Watch Out For Hidden Assets

High-asset individuals are often prone to seek ways to hide assets as a divorce approaches. Whether you are the spouse looking for creative ways to protect your assets or the spouse who suspects your husband or wife has not fully disclosed all assets, you need experienced legal counsel.

As You Approach Your High-Asset Divorce, Contact Me, Jason P. Reese, Divorce Attorney

I can help you devise a strategy for containing legal costs while accomplishing the necessary task of property division. Schedule a consultation by sending an email message or calling 330-754-4861.