Indianapolis High Net Worth Divorce Lawyers: Protecting Your Rights And Interests
In a high net worth divorce, the division of property is of utmost importance. With high-net assets on the line, it also has the potential to be quite contentious. The outcome will shape the foundation of your finances for some time to come. Accordingly, you should choose an Indianapolis divorce attorney with litigation experience and the advocacy skills needed to protect your rights and interests.
Indianapolis high-asset divorce attorney, Angie Trapp, founded Trapp Law, LLC, to help Indiana clients in Hamilton, Boone and Hendricks counties navigate divorce. With results-oriented representation and a customized approach, our divorce attorneys represent high-asset couples, business owners and professionals. Our lawyers have the experience, knowledge, and resources needed to analyze complex asset holdings and trace the transformations of individual property into marital property.
The Challenges Of Tracing Assets And Evaluating Wealth In A High-Asset Divorce
In the state of Indiana, the law requires an equitable division of marital assets in a divorce. When a couple has a high degree of assets and wealth, accurate evaluations of net worth are critical. A marital asset is any property that was acquired during the course of the marriage, with the exception of a spouse’s inheritance and some gifts.
When a spouse owns a successful business or a profitable professional practice, it is critically important to accurately evaluate and assess the value of the business. A divorce attorney who has experience with high net worth individuals is invaluable.
Angie Trapp Provides Experienced And Sophisticated Financial Guidance
When you retain Trapp Law, LLC, to represent you in your divorce, our high net worth divorce attorneys, under the guidance of our founding attorney Angie Trapp, will undertake a comprehensive examination of your marital assets. In a case involving ownership of a business or the valuation of complex financial assets, our firm’s lawyers utilize financial experts, including:
- Business valuation specialists
- Forensic accountants
- Specialized appraisers
Working closely with these experts, our lawyers will determine the accurate value of a business and underlying real estate. They will find “hidden” assets and discover potential financial liabilities, including tax liabilities and tax loss carryforwards.
These analyses will form the basis of your case, and they provide a foundation for negotiating a settlement that will result in a fair and equitable division of your marital assets and debts. However, if it becomes necessary, our seasoned divorce lawyers at Trapp Law, LLC, will be prepared to represent you assertively in litigation to protect your rights and interests.
Frequently Asked Questions About High-Asset Divorce In Indiana
At Trapp Law, LLC, we understand that high-asset divorces involve unique challenges and complexities. To help you navigate this process, we’ve compiled answers to some commonly asked questions:
What specific steps are involved in the equitable division of marital assets in a high-asset divorce in Indiana?
The first step is to determine what marital property is and what each spouse’s separate property is. That is done by looking at what was owned before marriage and what was acquired after, whether any premarital or postnuptial agreements are in play and what assets (such as inheritances) may fall under certain exemptions.
Once all property has been properly identified and classified, the marital assets must be valued. Since holdings may be complex and values can be disputed, this can be challenging.
Finally, the court must consider numerous factors to decide on an equitable division of the assets. Factors include each party’s needs, income (or earning potential), their contributions to the marriage, the length of the marriage itself, the allocation of child-raising responsibilities, the tax consequences of various distributions, the allocation of marital debts and more.
What should I bring to my initial consultation with a high-asset divorce attorney?
You should bring as many financial records as possible. This includes tax records for the last three years, bank statements, property titles, investment records, appraisals on luxury items and debts (such as credit card statements). The more organized your approach to this process, the easier it will be for your attorney to give you a clear picture of what to expect.
What are some common challenges faced in high-asset divorces, and how can they be addressed?
Valuing and dividing businesses, investments and real estate can be difficult, especially if the assets are not easily liquidated. Sometimes, one spouse may also seek to subvert the process by hiding or undervaluing their assets to avoid sharing.
Working with a financial planner and a tax professional is a must. It may also be necessary to hire business valuators, forensic accountants, appraisers, and even private investigators.
How are business assets valued and divided in a high-asset divorce?
There are numerous possible ways to value a business, but three of the most common include:
- The market-based approach, which asks what similar businesses have sold for recently on the open market
- The income-based approach, which looks at the company’s historical and projected revenues
- The asset-based approach, which focuses on the value of a company’s assets minus its liabilities
Some options for division include selling the business, buying out one spouse’s share either directly or in trade for other marital assets or choosing to remain co-owners.
How are marital assets and debts divided in Indiana?
Indiana follows the principle of “equitable distribution.” Under this principle, marital assets and debts are divided fairly between the two spouses, but not necessarily equally. We work diligently to ensure our clients receive a fair share, considering factors such as each spouse’s economic circumstances, contributions to the marriage and future earning capacity.
What steps are taken to uncover hidden assets?
We employ a comprehensive approach to asset discovery. This includes thorough financial investigations, working with forensic accountants and utilizing subpoenas when necessary. Our experienced team knows where to look for potentially concealed assets, such as offshore accounts, undervalued businesses or deferred compensation packages.
How can high net worth individuals protect their financial interests during a divorce?
Protection starts with a detailed inventory of all assets and liabilities. We advise our clients on strategies to safeguard their interests, such as securing important financial documents and avoiding actions that could be seen as dissipation of marital assets. Our attorneys also negotiate prenuptial or postnuptial agreements when appropriate.
What role do tax implications play in a high-asset divorce?
Tax considerations are crucial in high-asset divorces. We analyze the tax consequences of property division, alimony and other financial arrangements. Our team works with tax professionals to structure settlements that minimize tax burdens and maximize financial benefits for our clients.
What should I look for in a high-asset divorce attorney?
Look for an attorney with specific experience in high-asset divorces, a strong understanding of complex financial matters and a track record of success in similar cases. At Trapp Law, LLC, we offer all these qualities along with a commitment to personalized, strategic representation.
If you have further questions about high-asset divorce in Indiana, we encourage you to contact our firm for a confidential consultation. Our experienced attorneys are ready to protect your rights and guide you through this challenging process.
Consult An Indianapolis High Net Worth Divorce Lawyer
For a free initial consultation with an experienced high net worth divorce lawyer, contact us by calling 317-668-1230 or sending us an inquiry through our online form. Our consultations are completely confidential, so give us an opportunity to answer your questions and tell you more about how we can help you with your divorce.