High Net-worth Divorce
Wisconsin High Net Worth Divorce Attorneys Protect Client Assets
Complex property division questions arise in a high net worth divorce
Any divorce is stressful and can quickly become highly contested. In a high net worth divorce, where one or both parties have valuable assets, questions of property division must be carefully addressed to ensure the division is fair and equitable. At Bandle and Zaeske, LLC, our Wisconsin divorce attorneys are experienced in dividing wealth of all types and sizes between spouses. We understand the various tax implications and long-term impacts of property division and carefully consider these consequences when negotiating marital settlements and when conducting trials.
In Wisconsin, “marital property” typically includes all property that the couple acquires after the date of marriage. In most cases, property that is inherited or belongs to a spouse before the marriage will remain the sole property of that spouse. Aside from these types of property, however, all other property acquired during the marriage is assumed to be equally owned by both spouses. But, in some situations, inherited or previously owned property may become marital property.
Factors considered in property division
Wisconsin courts consider the following factors when dividing property between spouses in a divorce action:
- The length of the marriage
- Property owned by the spouses at the time of the marriage
- Whether the parties have property that is not divisible
- Contributions to the marriage
- The age and health of the spouses
- A spouse’s contributions to the increased earning power of the other spouse
- The earning capacity of the spouses
- The need to possibly award the family home to the spouse with placement of the minor children
- Tax consequences
- Agreements between the spouses that govern property
- Other issues the court deems relevant
Each of these factors will be carefully studied when making a determination on property division.
Protecting your wealth
In a high net worth divorce, a couple may seek to divide one or more of the following assets:
- Boats and yachts
- Airplanes and jets
- Commercial property
- Vacation homes
- Bank accounts
- Stocks and bonds
- Retirement benefits
- Antiques and heirlooms
In many high net worth divorces, spouses may attempt to hide assets from each other. However, there are measures that divorces attorneys may take, such as hiring forensic accountants, to uncover the true value of one’s assets. Additionally, consulting with financial planners, tax advisors, and other experts is key to a fair and equitable property division.
To ensure your property is properly evaluated during your divorce proceedings, be prepared to obtain and provide your attorney with documents that detail the value of your assets.
An experienced Wisconsin high net worth divorce attorney is key when assets are at stake
At Bandle & Zaeske, LLC, our Wisconsin high net worth divorce attorneys are experienced in dividing various assets between spouses in Washington County, Ozaukee County, and Waukesha County. We work with numerous financial experts to ensure you receive your fair share of the marital estate. To schedule a free consultation to discuss your property concerns, call (414) 359-1424 or contact us online.