Lancaster High Net Worth Divorce Lawyer Protects Clients’ Assets
Pennsylvania law firm guides clients through complex marriage dissolution cases
While property division during divorce is seldom easy, high net worth spouses frequently face extra hurdles. With more assets at stake than most couples, their property division process might take longer as they negotiate over which items should be considered separate property and which belong to the marital estate. Wealthier families are also more likely to own special assets, such as business shares and valuable art, where there could be differences of opinion about their monetary value. Chan & Associates in Lancaster has extensive experience representing Pennsylvanians effectively in high net worth divorces. I will conduct a thorough review of your situation and develop a legal strategy designed to safeguard your interests and preserve your lifestyle.
Insightful counsel assists in division of marital wealth
Definitions vary, but a high net worth divorce usually refers to a breakup where the marital estate is valued at $1 million or more. Some of the indicators of these types of cases are the following:
- Substantial business interests
- Complex investment portfolios
- Multiple real estate properties
- Luxury vehicles
- Highly valued art and/or antiques
- Considerable family wealth transferred through wills or trusts
- Significant pensions and/or other retirement assets
You should look for a lawyer who is proficient in resolving such issues. Whatever your particular situation entails, my firm’s background in divorce litigation involving wealthy families will give you the information you need to make important decisions with confidence.
Knowledgeable attorney advises on asset protection strategies
Under Pennsylvania’s equitable distribution law, if spouses cannot settle property division issues on their own, then the judge decides based on what is perceived to be fair. This does not have to be a 50-50 split in value, so having a skillful divorce attorney on your side is crucial. If there is a disagreement over whether a particular asset constitutes marital or separate property, I will present a well-supported case to support your position. In divorces involving substantial wealth, these disputes sometimes arise relating to inherited assets, which are generally classified as separate property but which can become part of the marital estate through commingling. Retirement accounts and investment portfolios can also be subjects of dispute, due to valuation changes and early withdrawal penalties. You can rely on me to identify the solution that works best for you and to consult with subject matter experts when warranted.
Common challenges in high net worth divorces
Spouses who are financially comfortable can face challenges that might not affect divorcing couples who are living paycheck to paycheck. You should not agree to any settlement of financial terms without understanding the potential tax implications, particularly as they relate to spousal support. High net worth individuals often have the ability and motivation to hide assets through questionable transactions, offshore accounts or digital currencies. If you have a concern that your husband or wife is not being forthcoming about their finances, I can use the discovery process and possibly a forensic accountant’s investigation to get to the truth.
Contact a Pennsylvania lawyer regarding your high net worth divorce
Chan & Associates handles divorces for high net worth clients in Lancaster County and the surrounding areas. To discuss your situation, please call 717-869-0015 or contact me online. My office is in Lancaster.
