Charleston County High-Asset Divorce Lawyers

South Carolina attorneys help wealthy spouses safeguard their finances

Ending a marriage is never easy, but high-asset couples frequently experience additional hurdles when it comes to resolving property, support and parenting issues. At Barker Family Law in Mount Pleasant, we are deeply familiar with the complications associated with the breakups of wealthy couples. Our South Carolina attorneys offer keen insight and advocacy tailored to the needs of high net-worth clients. 

Legal guidance during high-asset divorce proceedings

You don’t have to be a billionaire to experience a high-asset divorce. Though no specific definition exists, breakups where the marital estate is valued at $1 million or more are generally put into this category. In these cases, it is particularly important to work with a divorce lawyer who has proven experience successfully guiding clients through proceedings involving substantial business interests, complex investment portfolios, stock option grants, trusts and inheritances, multiple real estate properties which may include foreign real estate holdings, and significant retirement assets. You can rely on our law firm to provide knowledgeable counsel on these concerns, as well as about any other issues that might arise. 

How wealth can affect specific facets of the divorce process

Our South Carolina family law attorneys offer practical insight on how the following aspects of the divorce process affect high-asset families:

• Property division — In addition to the standard assets that must be distributed in a divorce, couples with considerable wealth might have businesses, stock options, trusts and inheritances, vacation homes, investment properties, foreign real estate holdings, valuable art and luxury vehicles. These assets often require expert valuation in order to be divided fairly.
• Spousal support — Disputes over alimony can be very contentious, as a spouse who relied on their spouse’s income while taking care of the household will likely seek payments that allow them to maintain their lifestyle. 
• Custody and visitation — Developing fair custody and visitation terms can be challenging if one or both spouses must travel frequently due to work responsibilities. Disagreements can also erupt over vacation plans and transportation of the children to different residences. 
• Child support — Parents who possess significant wealth could have sharp differences over who bears the financial burden for private school tuition, luxury vacations and expensive extracurricular activities. 

For all of these issues, we can create a detailed strategy aimed at achieving the result you seek. 

Skillful advocacy to protect your assets

We take the time necessary to gain a full understanding of each client’s unique circumstances and priorities. Financially successful individuals might be concerned about drawing a clear line between separate and marital property, particularly if they have brought significant assets into the marriage or have received a significant inheritance. It is also important to avoid unnecessary taxes and penalties, such as those that can be imposed if retirement accounts are accessed prematurely. When appropriate, we prepare Qualified Domestic Relations Orders to allocate assets from a 401(k) or other ERISA account and consult with experts if there are disputes over the value of a particular asset. 

Common challenges associated with high-asset divorces

Divorces among high net-worth couples can be more prone to problems involving concealment of financial information. There are instances where spouses seek to hide assets through secret bank accounts or cryptocurrency. Transfers to family members, friends or business entities might also be used to gain an advantage in matters relating to property division, spousal support and child support. When a family owns homes in multiple states, a husband or wife could try to file for divorce in the jurisdiction where they believe the law is more favorable to them. 

Contact a Mount Pleasant family lawyer about your high-asset divorce

Barker Family Law in Mount Pleasant represents spouses from the greater Charleston area and other parts of South Carolina in high-asset divorces and other family law matters. Please call us at 843-938-5957 or contact us online to schedule a consultation.