At the David W. Martin Law Group, our Myrtle Beach family law attorneys know divorces involving significant assets require careful planning and legal experience to ensure both parties’ fair property division and financial security. In South Carolina, the court follows the principle of equitable distribution, meaning assets are divided based on what is fair, not necessarily equal.
Implementing several strategies is essential to protecting your rights during a high-asset divorce. We can help. Here’s how.
Securing Your Financial Future in a High-Asset Divorce in South Carolina
It is crucial to work with a skilled divorce attorney experienced in high-asset cases. We can help you navigate the complexities of asset division, including business interests, real estate, investments, retirement accounts, and valuable personal property.
That includes:
- Accurately Identify and Value Assets: All marital assets must be accurately identified and valued. This may require the assistance of financial experts, forensic accountants, or appraisers to ensure a complete and fair accounting of your property.
- Consider Tax Implications: Dividing assets can have significant tax consequences. Working with our attorney and a financial advisor is essential to understand how asset division, such as transferring retirement funds or selling properties, may impact your tax liability.
- Safeguard Separate Property: In South Carolina, separate property—assets acquired before the marriage or through inheritance—is typically not subject to division. However, providing clear documentation is crucial to prove that certain assets are non-marital and should remain yours.
- Protect Your Business: If you own a business, it could be subject to division or valuation in the divorce process. To protect your business, it’s essential to have accurate records of its value and, if possible, pre-existing agreements like a prenuptial or postnuptial agreement in place.
- Negotiate Fair Support Agreements: Alimony may be significant in high-asset divorces. Ensure that any spousal support agreements are fair and reflect your current and future financial circumstances, considering any long-term obligations like retirement or significant investments.
- Be Prepared for Litigation if Necessary: While many high-asset divorces are settled through negotiation, be prepared for litigation if a fair agreement cannot be reached. Our experienced attorney can represent your interests in court and fight for a equitable division of assets.
Contact Our Skilled Criminal Defense Attorneys in South Carolina Today
Contact our skilled Myrtle Beach high-asset divorce attorney today by calling (803)-548-2468 to learn more about how we can help you protect your financial future.
