High Asset Divorce in Indiana

Going through a divorce is never easy, but when substantial assets are involved, the process can become even more complex. High asset divorces in Indiana present unique challenges that require specialized knowledge. At Zentz Law, we understand the intricacies of high-net-worth divorces. We are committed to providing strategies for our clients facing these difficult situations.

When a marriage comes to an end, both parties often find themselves overwhelmed by the complexities of the divorce process. This is especially true in high asset divorces, where the stakes are higher and the financial implications more significant. In these cases, it’s crucial to work with an experienced attorney who can guide you from the initial filing to the final hearing.

A skilled divorce lawyer can help you navigate the intricate process of identifying and dividing marital property. They ensure that all assets involved are properly accounted for and valued. Your experienced attorney will work tirelessly to determine the full extent of your marital estate, which may include complex financial portfolios and valuable personal property.

As your dedicated divorce attorney, we at Zentz Law understand that each spouse brings unique concerns and priorities to the table. We’re committed to protecting your assets and helping you achieve a fair resolution.

Whether through negotiation or litigation, our experienced attorneys strive to secure the best outcome for you, ensuring that your rights and assets are protected. Call us today at 317-220-6056.

What Is a High Asset Divorce?

A high asset divorce, also known as a high net-worth divorce, is a divorce with significant assets involved and complex financial situation.

While there’s no strict definition, these divorces typically involve marital estates and assets worth millions of dollars. A high asset divorce often includes valuable properties, investments, and business assets that need to be carefully  divided.

In Indiana, as in many states, the court presumes that equitable distribution of marital property and assets is fair. However, this presumption can be rebutted if one spouse can determine that an equal division would not be just and reasonable. This is where the complexities of a high asset divorce and the need for a divorce lawyer often come into play.

What Makes a High Asset Divorce Different?

High asset divorces differ from other divorces in several key ways:

1. Complex Asset Structures: High net-worth clients often have intricate financial portfolios. They may include business interests, investment properties, retirement plans, and other high-value assets. Identifying and valuing these assets can be challenging.
2. Business Valuations: If divorcing spouses own a professional practice, determining its value becomes a crucial part of the divorce process. This often requires the expertise of forensic accountants and financial experts.
3. Hidden Assets: Unfortunately, in some high asset divorces, one spouse may attempt to hide assets, such as a vacation home, to protect them from a proposed division. Uncovering this hidden separate property often requires sophisticated investigative techniques.
4. Tax Implications: High asset divorces can have significant tax consequences. Understanding and planning for these tax implications is crucial to achieving a fair settlement.
5. Lifestyle Considerations: In high-net-worth divorces, maintaining the marital lifestyle post-divorce often becomes a point of contention, especially when determining spousal support or child support.
6. Privacy Concerns: A high net-worth spouse often has privacy concerns and may seek to keep details of their divorce and assets confidential.

Common Issues for High Asset Divorces

Marital Estate and Property Division

In Indiana, the marital pot includes assets acquired by the divorcing spouses during the marriage, regardless of how they’re titled. This includes the property of the marital residence, vacation homes, investment properties, and other real estate. The court initially will identify marital assets subject to division as all property in the marital pot. However, certain assets may be classified as separate property if they were assets owned before the marriage or received as a gift or inheritance.

Dividing significant assets can be complex. For example, if one spouse’s involvement contributed significantly to its growth, the other may be entitled to a portion of the business’s value. This is true even if they weren’t directly involved in its operations.

Business Interests

When a business is part of the marital estate, determining its value becomes crucial. This often requires expert opinions from valuation specialists. The court will consider factors such as the business’s income, assets, liabilities, and future earning potential. If one spouse’s contribution to non-income producing efforts led to the business’s success (such as managing the household), this may also be taken into account.

Retirement Accounts and Pensions

Retirement accounts or retirement funds accumulated during the marriage are initially considered marital property in Indiana. Dividing these assets often requires a Qualified Domestic Relations Order (QDRO) to ensure a tax-free transfer of funds from one spouse’s account to their spouse’s.

Debts and Liabilities

Just as assets are divided in a divorce, so are debts. In high asset divorces, these debts can be substantial and may include mortgages, loans, and credit card debts. The court will consider who incurred the debt and for what purpose when determining how to divide it.

Child Support and Custody

In high-net-worth divorces, child support calculations can become complex. Indiana’s child support guidelines have an upper limit. But courts may deviate from these guidelines in high-income cases to ensure the child maintains their accustomed standard of living. Physical custody arrangements can also impact child support calculations.

Taxes

Tax considerations play a significant role in high asset divorces. The tax implications of separate property transfers, alimony payments, and retirement account divisions need to be carefully considered. For example, selling a highly appreciated asset as part of the divorce settlement could result in substantial capital gains taxes.

Spousal Maintenance 

Spousal maintenance is limited to two scenarios in Indiana:

• If your spouse becomes disabled during the marriage you may be required to pay spousal maintenance for the duration of the disability.
• If your spouse has been an unemployed stay-at-home spouse for a lengthy amount of time, you may be required to pay spousal maintenance for a period to not exceed 3 years.

Zentz Law | High Asset Divorce Attorney

At Zentz Law, each divorce lawyer understands the unique challenges presented by a high-net-worth divorce in Indiana. Our experienced attorneys are well-versed in handling complex financial matters and developing strategies to protect our clients’ interests.

Here’s how an attorney can assist you:

• Asset Identification and Valuation: We work with financial experts to identify all marital assets and ensure they are properly valued. This includes uncovering any hidden income that may have been concealed by the other spouse.
• Business Valuation: An attorney will collaborate with forensic accountants and business valuation experts to determine these assets’ true value.
• Tax Planning: We consider the tax consequences of property division scenarios to help you make informed decisions and minimize your tax liability.
• Negotiation and Litigation: Whether through negotiation or litigation, we strive to achieve a fair division of assets that protects your financial interests. We develop strategies tailored to your specific situation and goals.
• Child Custody and Support: We help you navigate the complexities of family law and child custody. Our lawyers support high net-worth situations, ensuring your children’s needs are met while protecting your rights as a parent.
• Privacy Protection: We understand the importance of discretion in high-profile divorces and work to protect your privacy throughout the divorce process.

Get Started With Zentz Law

As your high asset divorce attorney, we at Zentz Law are committed to guiding you through every step of the divorce process. We understand that each case is unique, and we tailor our approach to meet your specific needs and goals.

Remember, in a high asset divorce, the stakes are high, and the outcome can have long-lasting financial implications. Having an experienced high asset divorce attorney who understands the nuances of high-net-worth divorces in Indiana is crucial.

If you’re facing a high asset divorce in Indiana or other issues in family law, don’t navigate these complex waters alone.

Contact Zentz Law today at 317-220-6056 to schedule a consultation with a high asset divorce attorney about your high net worth divorce.