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Divorce is a major life event, but it can become more complicated if you have substantial wealth. When considering divorce, if you have accumulated a significant amount of assets with your spouse, you need to seek the guidance of an experienced attorney. A North Bend high asset divorce lawyer near me can review your assets and guide you throughout the divorce process.
At Twyford Law Office, our experienced divorce attorneys are dedicated to fighting for your legal rights. Our lawyers will fight for you regarding your asset division. Contact our knowledgeable team today to discuss your high asset divorce.
There is no legal definition of a high asset divorce in North Bend. While Washington law does not establish a specific dollar amount for a high asset divorce, courts follow the property division standards outlined in RCW 26.09.080 regardless of the size of the marital estate. When one or both spouses have ownership interests in a business or other company, the divorce may be considered high asset. Couples entering a high asset divorce typically have extensive investment accounts, retirement funds, or stock options which must be divided.
A high asset divorce also often includes complex property division such as vacation homes, international assets, or trusts. In a high asset divorce, either or both spouses likely will have significant income with bonuses, profit sharing, or stock compensation. If you are contemplating a divorce and have accumulated significant wealth, you need to seek the guidance of a North Bend high asset divorce attorney near me.
North Bend high asset divorces can become complex for a variety of reasons. When you have significant assets, before assets can be divided, the value of each asset must be determined, which can require the assistance of a forensic accountant and valuation experts. In addition, those with high net worths may utilize offshore accounts, shell corporations, or cryptocurrency, which can be harder to find and require experts to find.
Marital assets that are commingled with inheritances or complex family trusts can also make a divorce more complicated. Dividing investments, real estate, or retirement accounts can create tax implications that must be examined prior to making a final distribution of assets. Although Washington is a community property state, courts do not automatically divide every asset equally. Instead, they strive to reach a just and equitable division based on the circumstances of each marriage. A North Bend high net worth divorce lawyer can assist in examining your financial situation to answer your questions about complex asset division.
When contemplating a divorce, the first step in the asset division process is taking an inventory of all of your assets. To identify assets, a North Bend high asset divorce attorney can request financial records, tax returns, trusts, and business ledgers to review all potential assets that must be divided. The assets must be valued, often requiring the assistance of other professionals.
After the assets are determined, you must determine which assets are marital property and which assets are owned by one spouse. Under RCW 26.09.080, Washington courts consider both community and separate property when making a just and equitable distribution. The parties must then make a distribution of the property in a just and equitable manner. When making a property division, the court will consider the length of the marriage, the economic status of each party, as well as the health, age, and earning capacity of the parties. The court also considers the nature and extent of the community and separate property involved when determining what is fair. A seasoned high asset divorce lawyer near me can answer your questions about the divorce property division process.
If you are considering a divorce, and you and your spouse have accumulated significant wealth, you need to find an experienced attorney near you. An experienced North Bend high asset divorce lawyer can guide you through the asset division process.
The lawyers at Twyford Law Office understand how complex a high asset divorce can become, and we are ready to help you create a plan to move forward. Our experienced team of family law attorneys can navigate the legal process and protect your assets.
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