Seattle High Asset Divorce Lawyer

While divorce is never easy, a high net worth divorce lends itself to complications that divorce without high assets does not. Spouses facing high net worth divorces must seek out and retain a divorce attorney who specializes in handling these matters.

At Twyford Law Office, our seasoned divorce attorneys have the skills and resources necessary to evaluate and resolve high net worth divorces. We have years of experience representing clients in cases involving child custody, child support, divorce, property division, and more.

Our Seattle high asset divorce lawyer at Twyford Law Office provides representation that is:

• Forward-thinking;
• Forthright and honest; and
• Confidential and empathetic.

Contact our Seattle law office, our Spokane office, or our Bellevue law office and learn how Twyford Law Office can help your case.

Our High Net Worth Divorce Attorneys Can Help to Protect Your Assets

At Twyford Law Office, our Seattle high net worth attorneys will start your divorce case right away. This generally means employing experts and specialists to conduct analyses and valuations of your personal and business interests.

We also do the following:

• Thoroughly review your retirement assets and draft qualified domestic relations orders, QDROs, correctly and according to guidelines;
• Help you identify and inventory any assets and debts;
• Advise you of tax consequences regarding significant decisions;
• Keep your divorce case moving toward resolution, whether that is through a settlement or trial.

With high assets, it is imperative you have competent legal representation throughout your divorce case. At Twyford Law Office, our high net worth attorneys will create a legal strategy centered around you and your divorce goals.

If you have divorce questions regarding your case, contact our office today to discuss how one of our high net worth attorneys can represent you in your divorce action.

What Is a High Net Worth Divorce?

A high net worth divorce is any divorce where one spouse has more than one million in assets. While a high net worth does not affect the process of filing for or finalizing a divorce, it does have an impact on future tax liability, generally takes longer to complete, and involves more experts like accountants and economists.

In a Seattle high net worth divorce, the court thoroughly inspects both spouses’ financial records. If either spouse submits incorrect information, they are subject to an IRS investigation. The court reviews the following in a high net worth divorce:

• Retirement accounts, 401k’s, pensions, and similar benefits;
• Shared businesses, spouse-owned businesses, partnerships, and business investments;
• Real estate and property holdings; and
• Out of state or international assets.

Washington Is a Community Property State

Washington is a community property state. This means that all property or debt accumulated during a marriage is presumed to belong to both parties. A Seattle high asset divorce attorney can help clarify how community and separate property laws apply, especially when property acquired before the marriage, gifts, inheritances, or settlement compensation is involved.

Washington law requires property division in a divorce to be “just and equitable.” This does not mean it must be equal. Property is divided based on the court’s determination of fairness.

The court distributes property based on the following:

• The extent and nature of the community property;
• The extent and nature of the separate property;
• The length of the marriage or domestic partnership;
• The economic status of both parties; and
• If a spouse or domestic partner desires the right to live in the family home and is spending the majority of the time with shared children.

While fault is not a factor when dividing property, behavior intended to and resulting in waste or destruction of property could be considered during property distribution.

Concealing Assets in High Net Worth Divorces

Parties to a divorce are required to disclose all shared assets for property division. A Seattle lawyer can help ensure transparency in high net worth divorce cases where there may be a greater risk of asset concealment. Spouses who fail to disclose assets may face penalties or sanctions.

Common ways a spouse may attempt hiding assets include:

• Failing to report or under-reporting income;
• Intentionally reporting expensive purchases under their actual value;
• Making false payments to collect shared monies at a later time; and
• Intentionally overpaying taxes with shared monies to create a positive IRS balance for the future.

Contact a Seattle High Asset Divorce Attorney Today

At Twyford Law Office, our high net worth divorce attorneys have decades of combined experience. This gives us the ability to protect and represent you in your high net worth divorce. Do not place your assets at risk; meet with a skilled Seattle high asset divorce lawyer at Twyford Law Office right away.

Rest assured, your case evaluation at Twyford Law Office will remain completely confidential. Contact us online to schedule a free consultation.