Pittsburgh High Net Worth Divorce Attorneys

Lawyers Experienced in High Net Worth Cases

Property division, custody and alimony issues faced by every couple can become more complex when individuals with a high net worth are involved. That’s why you need to contact a Pittsburgh high net worth divorce attorney specifically if you have a case which may involve high assets, confusing tax complications, complex custody and support questions.

In divorces involving several million dollars in assets — from investment and retirement accounts to real estate and business interests — the long-term financial implications are amplified and the emotions surrounding the money can be as intense as the emotions surrounding the breakup.

Why are High Net Worth Divorces More Complicated?

While the principles of divorce are the same no matter how much money you have, more money tends to equal more possible scenarios to evaluate and often more complications.

Just as in any divorce, attorneys will need to identify assets and debts and determine whether these items are marital property or separate property, determine responsibilities each party will have (such as child support) and determine how to divide the assets as fairly as possible.

But, affluent couples typically have more categories of assets, which involve more categories of rules. When trusts, foreign holdings, real estate in various jurisdictions and business obligations come into play, more sections of the divorce code will be relevant than in cases in which a couple only needs to split a bank account, family home and retirement accounts.

How are Homes, Artwork and Other Valuables Handled in a Divorce?

Wealthy couples may own art or collectibles that can be difficult to value. Often, the monetary value of a painting, sculpture or antique can only be effectively determined at the time of sale.

When homes, property and art are owned in different states, or even different countries, an additional layer of difficulty is added, with different divorce code stipulations and tax rules to be considered for each location involved.

Some assets involved in high net worth divorces may be difficult to value because they were designed to be that way to limit tax liabilities. Finding an attorney who is well-versed in divorce tax law, business valuation and equitable distribution will help you navigate through the divorce process with confidence. Read more about these particular issues on our Pittsburgh high-asset divorce page to find out about specialized business valuation training our attorneys have completed. 

What About Inherited or Generational Wealth?

Wealth that’s been accrued and passed through generations can impact a high net worth divorce as various family members may share joint interest in accounts or property. Siblings, children or other relatives may have a financial interest in the outcome of your divorce or may share a claim to some of your assets.

If a prenuptial agreement is not in place to exclude shared family assets from equitable distribution, your attorney will need to determine the various ownership stakes of the individuals involved in addition to determining if any portion of the family asset has become marital property. 

How Can Pollock Begg Help Me with My High Net Worth Divorce?

The complexities of high net worth divorce raise numerous legal and tax challenges, even in amicable splits. It is important to work with an attorney who is experienced in the intricacies of high net worth divorce and familiar with the tax and financial implications you will face. The legal team at Pollock Begg can guide you through the process as you map out a plan for your financial future. Our Pittsburgh high net worth divorce attorney team can advise you on the best course of action to protect your financial assets and personal interests. Contact our office at 412.471.9000 today.