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(801) 254-9450 (801) 254-9450 Divorce becomes more complicated when spouses own substantial assets. These cases often involve detailed financial investigations and disputes over the value of rare assets, and not every attorney understands how to navigate these disputes.
At Carr | Woodall, our divorce attorneys have experience with high-asset separations. We know what issues are likely to arise because we have faced them before. If you are ready to rely on our knowledge, you can contact our Midway high-asset divorce lawyers today for help.
High-asset divorces involve challenges that do not usually appear in lower-conflict cases. You can face these challenges and pursue the outcome you deserve from your high-value divorce with the help of our Midway attorneys.
Some assets cannot be valued through simple account statements alone. Businesses, investment partnerships, stock options, professional practices, and commercial properties may require formal appraisals to determine what they are worth. This step is important, as incorrect valuations could cost you a fair share of the marital estate.
Taxes play a major role in many high-asset divorces. Selling property, transferring retirement funds, or liquidating assets may trigger tax consequences that reduce the actual value of the property received. A settlement that appears fair on paper may become financially harmful if you overlook tax consequences during negotiations.
When one or both spouses own a business, the divorce may impact it in harmful ways. When it comes to closely-held companies, any attempt to split or liquidate the business could cause it to fail. Our attorneys could work toward a settlement that keeps these companies intact.
Many individuals involved in high-asset divorces want to avoid unnecessary public exposure of financial information. These professionals frequently worry about the damage their reputation might take if sensitive financial details are made public.
Unfortunately, some spouses attempt to conceal assets during divorce proceedings. This may involve transferring money, underreporting income, delaying bonuses, hiding cryptocurrency holdings, or using business accounts improperly. High-asset divorces often require careful review of financial records to identify missing or concealed assets before the court finalizes property division.
Utah follows the principle of equitable distribution during divorce cases. That means the court divides marital property fairly, not necessarily evenly. Judges examine several factors when deciding how to divide assets and debts between spouses, including the length of the marriage, each spouse’s financial condition, and any future financial needs. Judges also examine whether one spouse sacrificed career opportunities to support the household or help build marital assets.
In general, property acquired during the marriage may qualify as marital property subject to division. Separate property owned before marriage may remain with the original owner in most situations, but certain exceptions could lead the court to treat it as a shared asset.
These cases are typically more complex than a standard divorce, so it is important to have a team of professionals to support you. Our Midway attorneys are here to help you get the best possible outcome in your high-value divorce case.
High-asset divorces are unique, but that does not mean you and your legal team cannot approach them with confidence. When you rely on Carr | Woodall, you get the support of attorneys who have handled large-scale divorces involving a wide range of complex assets. If you are ready to learn more about how we can assist you, contact our Midway high-asset divorce lawyers today.