St. Petersburg High Net Worth Dissolutions Lawyers
St. Petersburg and its surrounding areas is home to many athletes, entertainment personalities, and affluent individuals. Unfortunately, these individuals are no more immune to divorce than anyone else, but when these individuals want to dissolve their marriage, the process becomes much more complex. Even when a high net worth divorce is not contentious, the task of equitably dividing the assets and debts requires time and extensive resources. When the two parties are combative, particularly when one or both sides is not completely honest, obtaining a fair settlement is even more challenging.
If you are going through a high net worth divorce, do not go through the process alone. Our St. Petersburg high net worth dissolution lawyers can help you obtain the fair settlement you are entitled to.
What Types of Assets are Divided in a High Net Worth Divorce?
Under Florida law, each spouse must fully disclose all marital assets and liabilities during the divorce process. Affluent couples typically have many complex assets, which can include:
- Rental properties
- Vacation homes
- Yachts and boats
- Luxury cars and other motor vehicles
- Businesses with tangible assets, intellectual property assets, and indebtedness
- Fine jewelry
- Wine and art collections
- Club memberships, such as those for golf courses or country clubs
- Retirement accounts, such as pension funds, IRAs, and 401 (k) accounts
- Stocks and stock options
During divorce proceedings, each spouse will have to sign an affidavit, which is a sworn statement, declaring that their financial disclosure is complete and true. Spouses must also produce bank account statements, tax returns for the last three years, credit card statements, and earning statements.
How to Find Hidden Assets in a High Net Worth Dissolution
Not all spouses comply with the full disclosure law in Florida. Sometimes, one spouse will try to hide assets in an effort to protect them from property division hearings. Some of the most common ways spouses hide assets during a high net worth dissolution are as follows:
- Using a transfer of assets to a third party for holding until divorce proceedings are over
- Keeping financial assets off-shore
- Underreporting cash revenues
There are ways to find these hidden assets, but doing so is always challenging. A St. Petersburg high net worth dissolutions lawyer can help you find assets when your spouse is dishonest.
Other Unique Considerations for High Net Worth Dissolutions
Hidden assets are often an issue in high net worth dissolutions, but there are others, too. These are as follows:
- The consideration of beneficiaries in each spouse’s estate plan
- The tax consequences of dividing certain assets
- Pre and postnuptial agreements that outline how division of assets should proceed
Our High Net Worth Dissolution Lawyers in St. Petersburg Can Help Protect Your Assets
At Greene & Greene, our St. Petersburg high net worth dissolutions lawyers can provide comprehensive and compassionate legal representation in contested divorces between high net worth couples. Call us today at (727) 821-2900 or contact us online to schedule a consultation and to learn more about how we can help protect what is most valuable to you.
