Craig Zotter & Associates
High Net-Worth Divorce
When complex financial holdings such as businesses, stock options or complex retirement plans are part of your marital assets, you need a divorce lawyer who understands finance and tax issues. Craig Zotter & Associates has extensive experience with high net-worth divorce. Our staff, and support staff recognize that every high net worth case that we litigate has unique factors that must be addressed with an individualized approach in order to maximize your result. Most high net worth divorces include many other issues outside of the assets of the estates. These issues include child custody, alimony, property distribution and more. As your attorneys, our firm will work with you to provide you with experienced and knowledgeable counsel and representation for the duration of your divorce – from initial consultation through settlement or trial.
High-asset divorce requires the assistance of various financial experts. Craig Zotter & Associates has relationships with tax experts, forensic accountants, and business valuation experts. These experts are an integral part of the valuation process and we work hand-in-hand with our financial experts to identify and inventory all assets and debts in the estate. We routinely discover assets hidden by a spouse in an attempt to shelter the asset from the distribution process. As your attorney, however, we will maintain the highest regard for the client/counsel confidentiality agreement and share only information with these experts that is required for us to successfully litigate your interests.
Placing fair market valuations on complex holdings requires the most elite and sophisticated accountants, forensic accountants, and tax experts. Our experts will scrutinize all information searching for holdings such as:
Often the most contentious area of the Equitable Distribution portion of a High Net Worth divorce involves the one spouse owning and operating a business or partnership. The valuation process will likely include a forensic analysis of the business or partnership. This area of discovery/ questioning could also involve an expert who determines the business/partnership value by reviewing all business records.
Real estate is often the most valuable asset in the marital estate. The marital residence, investment property, vacation homes, and commercial property can be considered marital property. Determining whether real estate is marital property, how much (if any) of the property is marital, and ultimately who ends up with which asset is sometimes extremely contentious. Title to the property is not always determinative of whether the property is a marital asset.
Stock options can be a marital asset. Determining a fair market value for stock options and how much is marital property can also be lengthy and letigious. Often the parties to the divorce do not agree on ownership and value of this asset. Determing when the options were granted and if and when they vested play a significant role in whether the stock options are a marital asset.
Retirement assets such as an IRA, 401K, and 403B acquired during the marriage and/or the appreciation of those assets during the marriage are considered marital property. Generally speaking, this is also true for Pensions, SEPs, SERPs, and deferred compensation plans. All of these assets can be divided through a Qualified Domestic Relations Order (QDRO), which helps assure that each party ultimately receives what is determined to be their marital property.
Craig Zotter & Associates has the necessary experience with high-asset divorces to know what issues to look for and how to capitalize on those assets to the benefit of our clients.
Spousal support and alimony and maintaining the standard of living are critical issues when the financial stakes are high. In addition to the standard of living during the marriage, the reasonable needs of the dependent spouse are considered. Craig Zotter & Associates has experience with complex support and can represent either the spouse seeking alimony or the spouse contesting alimony. Our attorneys can present your case based on your standard of living and relevant tax issues.
Please call our offices at the U. S. Steel Tower to schedule an appointment to discuss how Craig Zotter & Associates can protect your financial assets through the divorce process. Call us at 412-201-1111.