High Asset Divorce

Serving the greater Columbus, Franklin county and Central Ohio areas.

Schedule a consultation

Ohio High Asset Divorce Attorney

Family Law specialists with over 59 years of experience.

Divorce is a stressful time for anyone. But in a high-asset divorce, there’s simply more at stake. The financials are more complex. Property has to be appraised; businesses have to valuated; equity in real estate might partly belong to one spouse and partly be considered marital property. It’s a complicated process that will likely take at least a year to sort out.

The Lawrence Law Office has the experience you need to manage high-asset divorces. Offering a unique blend of business law experience and family law experience, we offer our clients unparalleled representation during their divorce. For more information, please feel free to give us a call or contact us online to set up an appointment.

High-Asset Divorces Present Unique Challenges

Ohio is an equitable distribution state. That means that assets are divided equitably but not necessarily evenly. In cases where one spouse’s earning power is significantly greater than the other spouse’s, the court may favor the spouse with less earning power when distributing assets. In addition, if one spouse behaved badly during the marriage, this may also impact the distribution of property during the divorce.

But most high-asset couples have a vested interest in keeping their financials private. For this reason, most high-asset divorces go into mediation so as not to involve the courts and not make their assets and financials a matter of public record. Indeed, this too can become a bargaining chip in the process of negotiating a settlement.

Client Reviews

Had free consultation. Advice given was taken, and resulted in change of mind in the other/opposing party. We therefore did not need to retain. Should opposing party resume original opinion, we will retain.

Kit

I was in a terrible custody dispute with my ex. I was very upset and afraid of my ex. Rodd listened to everything I said and remembered everything I said. He was aggressive in court and used the information I gave him very well. We won the case and my ex has backed off.

anonymous

I wanted an easy divorce from my wife. She wanted a fight. Rodd and I discussed fair terms for a dissolution. Because he was pro active and stayed on top of the case, my wife and I finally reached an agreement and had a dissolution. I highly recommend Rodd.

anonymous

I hired Linda Lawrence because I have a business and I wanted to protect it in my divorce. Linda is top notch and knows about business finance and assets. I was able to keep my business and not have to pay my wife anything from it. Hire her.

Linda

I hired Linda Lawrence because I needed an aggressive attorney. Linda was able to stand up against the other attorney and was very aggressive in court. It was an expensive divorce case, but that was because the other attorney was very aggressive and Linda was very thorough. I had great results in my case and highly recommend Linda.

Joy
VIEW MORE TESTIMONIALS

Tax Consequences of a High-Asset Divorce


For obvious reasons, the major challenge of a high-asset divorce revolves around the division and allocation of assets. These types of things still present problems for those without vast assets that need to be considered. The first part of the process is determining which assets belong to you and your spouse individually and which assets are property of the marriage. In Ohio, any property that was acquired during the marriage is marital property and thus subject to equitable distribution. Only property acquired before the marriage, money acquired through a personal injury lawsuit, or property acquired via inheritance can be protected.

For instance, let’s say that you own a piece of real estate outright. But, at the time of your marriage, you only had 25% equity on the property. The 25% that you had purchased before the marriage still belongs to you while 75% of the equity is property of the marriage. In addition, the property may have increased value during the marriage and this also factors into the equation.

If you think that’s confusing, imagine how this same process would work when appraising a business. Value and growth that accrued during the marriage are considered property of the marriage. It can get confusing.

High-asset couples end up having to hire independent third parties who are willing to appraise the business or a piece of real estate. There are a number of ways to go about this process.

Offshore Accounts and Out-of-State Trusts


While you were married, you were likely filing together as a married couple. In some cases, high-asset couples may file separately if each owns their own business. Once the divorce has been finalized, you will no longer be able to file as married either jointly or separately. This can change your financial situation and it will certainly change your tax situation.

The attorneys at Lawrence Law Office can explain the tax consequences of your divorce to head off any issues that may arise. 

Common Challenges in High-Asset Divorces


In some situations, there may be one spouse who seeks to hide assets from the other spouse by setting up out-of-state trusts or hiding funds in offshore accounts. In this case, you need a legal team that you can trust to conduct a full investigation in order to find the hidden funds.

One of the biggest mistakes that a divorcing spouse can make is to rush through the process of financial disclosure. Obviously, divorce is a difficult time and most people just want it behind them, but you don’t want to jeopardize your financial future either.

On the other side of the equation, if you are the primary breadwinner in your household and you attempt to hide assets during your divorce to prevent your former spouse from getting a larger payout, it can backfire. If your deception is exposed, it will damage your credibility with the court.

Contact us

What is going to happen to my estate during a high net worth divorce?

Your estate is everything that you own. During a high asset divorce in Ohio, you need to untangle yourself financially from your spouse, which means that you need to decide how to divide your assets.

Read More…

What will happen with my high value property after divorce?

All marital property is divided equitably in divorce, including high-value assets. High value assets are not treated any different than other assets. During a divorce, a couple can decide how they want to divide their marital property.

Read More…

Are my investments protected during a high net worth divorce?

It depends on what you mean by “protected.” You certainly can’t insulate investments from equitable distribution during divorce. Some of our clients wrongly think that property is marital only if both spouse’s names appear on the investment account.

Read More…

What happens with stock and bonds during a high net worth divorce?

Stocks and bonds are analyzed just like any other piece of property. First, you need to determine whether it is marital property or separate property.

Read More…

What assets need to be taken into account during a high net worth divorce case?

All assets that the couple owns, either individually or jointly. Remember, what is key is not whose name appears on the deed or title.

Read more…

How should I handle offshore accounts during a high asset divorce?

You should treat offshore accounts just as you would as if those assets were onshore. Some of our clients are tempted not to disclose assets, especially off-shore assets, because they think that their spouse will not discover them.

Read more…

How will our high asset real estate investments be divided?

Real estate will be subject to equitable distribution just like all other marital assets. They will be lumped together with other marital assets and then divided by the judge if the couple cannot reach an agreement on their own.

Read more…

How do we distinguish between community and non-community property?

The key is to look at when you obtained the assets. If you obtained an asset before getting married, then it is usually non-community property, called “separate property” in Ohio.

Read more…

What will the tax implications be after my high asset divorce?

In a high net worth divorce, tax issues loom large. Divorces, by themselves, are not usually taxable events, so you shouldn’t expect the IRS to send you a bill just because you were divorced.

Read more…

How will retirement funds be divided in high asset divorce?

For many people, retirements accounts represent a significant portion of their investments. However, retirement funds are divided in an Ohio divorce just as other assets are divided.

Talk to an High-Asset Divorce Attorney in Columbus

The team at the Lawrence Law Office has experience in both family law and business law making us uniquely qualified to handle high-asset divorces. Give us a call or talk to us online to set up an appointment with a high net worth divorce lawyer in Ohio and we can begin discussing your options today.

REQUEST A CONSULTATION

  • This field is for validation purposes and should be left unchanged.

Client Reviews

Had free consultation. Advice given was taken, and resulted in change of mind in the other/opposing party. We therefore did not need to retain. Should opposing party resume original opinion, we will retain.

Kit

I was in a terrible custody dispute with my ex. I was very upset and afraid of my ex. Rodd listened to everything I said and remembered everything I said. He was aggressive in court and used the information I gave him very well. We won the case and my ex has backed off.

anonymous

I wanted an easy divorce from my wife. She wanted a fight. Rodd and I discussed fair terms for a dissolution. Because he was pro active and stayed on top of the case, my wife and I finally reached an agreement and had a dissolution. I highly recommend Rodd.

anonymous

I hired Linda Lawrence because I have a business and I wanted to protect it in my divorce. Linda is top notch and knows about business finance and assets. I was able to keep my business and not have to pay my wife anything from it. Hire her.

Linda

I hired Linda Lawrence because I needed an aggressive attorney. Linda was able to stand up against the other attorney and was very aggressive in court. It was an expensive divorce case, but that was because the other attorney was very aggressive and Linda was very thorough. I had great results in my case and highly recommend Linda.

Joy
VIEW MORE TESTIMONIALS

Our Practice Areas

Family Law

Attorneys for Divorce, Child Custody & More At the Lawrence Law Office, we are committed to helping families in conflict find creative solutions that focus on addressing their goals and...

Divorce

Columbus & Delaware, OH Divorce Lawyers In Ohio, there is more than one way to separate from your partner and dissolve your marriage. A divorce is typically a contested proceeding, with each side...

Contempt and
Enforcement and
Post divorce

When working through your divorce with an Ohio family law attorney, chances are your divorce agreement made allowances for child support. spousal support or

Business owner
divorce

Dividing the marital assets between divorcing people can be one of the most contentious issues during the entire divorce process. Ohio law allows the couple to work together with...

Child Custody

Dividing the marital assets between divorcing people can be one of the most contentious issues during the entire divorce process. Ohio law allows the couple to work together with...

High Asset
Divorce Cases

Helping With Child Custody, Visitation & Support Updates Or Modifications Sometimes circumstances substantially change after a divorce and require parents to revisit an existing...

VIEW ALL PRACTICE AREAS