High Asset Divorce Attorney in Columbus
Involved in a high-asset divorce? Get a seasoned attorney with a proven track record of handling the financial and personal issues associated with such divorces.
Attorney Dmitriy Borshchak knows how to handle divorces that involve high-value property, businesses and securities. Working closely with financial
Divorce cases are rarely straightforward, but others are even more complex. That’s particularly the case when the divorcing couple has considerable marital property and assets.
If you’re involved in a high net worth divorce, you’ll need to safeguard your right to a fair share of the assets owned by you and your spouse. The attorneys at the law office of Dmitriy Borshchack are there to help you get and keep what you deserve. We’re familiar with the complexities of marital agreements and property division, so let us help you navigate your case.
Our high-asset divorce attorneys in Columbus, Ohio. have the experience you can leverage to manage your divorce. We offer a unique blend of family law and business law experience to deliver unmatched legal expertise. We will help you get what you deserve and secure your financial future during the emotionally draining divorce process.
in the valuation of assets, businesses, and other enterprises, Attorney Borshchak will aggressively protect your assets and make sure your soon-to-be former spouse is honest about their finances.
Reach out to attorney Dmitriy Borshchak today to divorce your spouse with a reliable family law attorney looking out for your best interests.
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What Makes High Asset Divorce Case Complex?
Divorce in itself is a stressful period for anyone. There will be a lot more at stake if yours is a high net worth divorce. Since significant assets and finances are involved, the assets need to get appraised and forensic accounting done.
Furthermore, equity in property might partly belong to either of the divorcing partners and be considered marital property. Although each high asset divorce case is different, there are common challenges across the board, especially when dividing assets like:
- Properties such as the marital home and other real estate investments
- Ownership rights to businesses jointly owned by the divorcing spouses
- Retirement accounts, including 401(k) plans and pension plans
- Hidden assets and shared offshore accounts
Financial Issues in a High Net Worth Divorce
A high-net-worth divorce isn’t any different from a regular divorce. The primary difference is that more assets are involved, raising the possibility of litigation and court battles that can potentially lengthen divorce proceedings. Moreover, this type of divorce often brings out unique issues.
For instance, if the divorcing couple is jointly involved in a family business, both parties will want their interest appraised. The business must get evaluated, assets examined, and each party’s interests assessed. It’s best for both parties to seek professional legal representation and guidance to make the process less burdensome.
Marital Agreements in High Net Worth Divorces
A high-asset divorce is likely to be more straightforward if you have a prenuptial agreement or similar marital agreements. Nonetheless, no one plans to divorce when they get married, which is why few people have prenup agreements to refer to when divorcing.
Although the absence of such arrangements can complicate your divorce proceedings, we’re committed to making things easier for you. Our law firm has successfully handled multiple high-asset divorce cases. Therefore, you can have peace of mind knowing too well that you have an experienced team in your corner.
Common Mistakes Couples Make in High Asset Divorce Cases
Given that the financial stakes in a high-net-worth divorce are usually high, these cases are often high-profile and tend to drag out. It’s common for either of the divorcing partners to grow frustrated with the process and commit costly mistakes such as:
Publicly Criticizing the Soon-To-Be Ex
With the advent of social media, it’s common to see divorcing couples criticizing each other on social media. Despite the emotional turmoil involved during divorce, the worst mistake you can commit is venting your anger and frustration against your soon-to-be ex-spouse.
Such outbursts reflect on you poorly and may be considered by the court when dividing the assets. We always advise our clients to avoid commenting publicly on their divorce proceedings, lest they jeopardize their chances of getting what they deserve.
Not Hiring a Financial Adviser
Besides hiring a high-asset divorce attorney, you may also need a financial advisor. They’ll help you handle the financials, especially when preparing financial statements relating to jointly-owned assets. The law firm of Dmitriy Borshchack not only employs skilled attorneys but also financial experts who can help you navigate your divorce proceedings.
Leaving the Marital Home After Separation
When you separate from your spouse, the pain and anguish you have might make you leave the marital home. However, this can affect your child custody rights and your claim to the matrimonial home. You might not even be allowed to return to the home during and after the divorce proceedings.
Rather than leaving your matrimonial home after separation, consider putting it up for sale. You can also ask your soon-to-be ex to buy your share of the matrimonial home. This way, you’ll make some money out of it.
Failure to Maintain Financial Records
It’s a no-brainer that you can’t lay claim to assets you allegedly share with your spouse if you don’t have the requisite financial records to back your claim. For instance, if you hold money in an offshore bank account that the US has no jurisdiction over, you’ll need the relevant financial records to claim your share of that money.
Likewise, familiarize yourself with the marital expenses you and your spouse had and where money was spent. If you’re claiming your spouse’s assets, such records can help prove that they were supporting you financially and need to maintain the spousal support post-divorce. Without these records, you may not have a strong claim when the divorce proceedings and consequent property division starts.
Refusing Mediation
Most family law matters can get resolved before they go into mediation, and a high-asset divorce is no different. Although a lot will be at stake, you should give mediation a chance rather than opting for trials. High asset divorce trials take too long, not to mention the high expenses involved.
When you opt for mediation, you won’t need a battery of lawyers or risk having your private lives and financials splashed out on the front pages of local dailies for all to see. Instead, your divorce will get finalized swiftly, cost-effectively, and privately.
Not Hiring an Attorney
A major mistake most people make during a high-asset divorce is not hiring an attorney. They do this thinking that legal representation costs too much money and that they can negotiate on their own. However, it’s advisable to have a skilled attorney throughout the process.
In this regard, you should remember that attorneys specializing in family law differ from high-asset divorce attorneys. Thus, ensure you choose an attorney with a proven track record of handling high asset divorces in Ohio.
Not Trusting Your Attorney’s Advice
Your attorney is among the few parties that have your best interests at heart during the divorce proceedings. They don’t want to take advantage of you but ensure you get and keep what you are owed. Thus, you should be free to open up about your financials, besides following their advice and recommendations.
Remember that a win for you translates into a win for your attorney’s law firm. Thus, they are committed to securing the most favorable outcome in your case. Your attorney should be your go-to person for advice, and you shouldn’t hesitate to ask questions about the proceedings.
The Peculiarity of High asset Divorces in Ohio
Ohio is an equitable asset distribution state. In a divorce involving considerable marital property, the assets often get divided equitably but not always evenly. The divorcing couple’s earning power also impacts property division during the divorce.
Other peculiarities that you should keep in mind if you’re in a high asset divorce in Ohio include:
The Divorce May Impact Your Taxes
There are several tax implications to consider when wealthy spouses divorce. You might need to pay taxes on the divvied-up marital assets. For this reason, you may want to work with an attorney who understands the relevant tax laws and can help you avoid incurring more expenses.
High Asset Divorce is More Expensive
A high-asset divorce is expensive for obvious reasons. For starters, the money you have isn’t the only consideration, but also the marital home, business assets, and other financial interests. Figuring out what each spouse deserves requires time and money.
You Should Keep Your Finances in Check
Any high asset divorce attorney in Ohio will recommend taking stock of your expenditure and finances. Ohio courts often review financial documents, which is why you should collate all financial details of your marriage, including living expenses.
The legal and financial experts at the law offices of Dmitriy Borshchack can help you organize your finances and provide the head start you need to obtain a favorable outcome in your high asset divorce proceedings.
Contact a High Asset Divorce Lawyer Today
In a high asset divorce case, there will be considerable investment and retirement accounts, business interests, multiple properties, and other investments to consider. You need an aggressive attorney who can help you get or keep what you deserve.
At Dmitriy Borshchack, we’re committed to protecting your assets and financial future and making things more bearable as you divorce. Call us today at 614-334-6851 to schedule a free case consultation.
