What Is a High-Asset Divorce?
It doesn’t take a lot to be considered “high-asset” in the divorce world. In fact, you may be surprised that your case is technically high-asset. If your combined liquid assets total more than $1 million (cash, stocks, bonds, real estate, and businesses), you are a high-asset case.
These assets include but are not limited to:
- Retirement accounts, including 401(k)s, IRAs, and pensions
- Savings
- Stock options
- Properties in multiple states
- Family businesses
- Farms and plots of land
- Rare art pieces
- Digital assets like cryptocurrencies
- Luxury items like jewelry, antiques, collectibles, vehicles, and yachts
- Intellectual property like patents, trademarks, copyrights, licenses, and royalties
These cases are more complicated, simply because more assets = more laws = more moving parts and coordination. For example, splitting up a bank account, retirement account, and single family home might only involve one or two sections of the divorce code.
However, splitting up trusts, foreign holdings, and multiple plots of land could involve almost every section of the law. It is important to hire a trusted lawyer when navigating a divorce of this nature, even if you communicate well and are in good standing with your partner.
This not only ensures finality but also leaves you at ease knowing we found an equitable and fair result where your needs are met.
Complications could arise in these areas:
- Complex Valuation of Assets
- Fluctuating values of assets like crypto or investments
- Hidden assets or income that a spouse has concealed
- Business ownership and questions around future profits or operational involvement
- Capital gains taxes involved with selling or transferring assets
- Pre- and Post-Nuptial Agreements in place
- Spousal and Child Support
- Privacy Concerns
- Multiple jurisdictions if properties are held across states or countries
Legal Considerations in Arkansas & Oklahoma
There are a number of laws to consider when you’re working through a high-asset divorce and it’s best to familiarize yourself with them, even if you’re working with a lawyer. Here are a few we recommend, but we also walk you through this when you work with our firm:
- Property division laws in Arkansas and Oklahoma
- Marital vs. non-marital property
- Any notable jurisdiction differences
How Our Attorneys Help
High-asset divorce cases are very common for our offices to handle and in fact, we handle them seamlessly. Our focus remains on the best outcome for the client and often involves the following services:
- Investigation: a deep dive into the assets that need to be evaluated, which sometimes include assets that the client did not think of or know of
- Financial expert collaboration: we call on our best business partners when it comes to the financial peace, bringing together industry experts to bring you the best result
Negotiation vs. litigation: we use our experience to navigate each situation at hand, knowing when to open up the doors for conversation with the other party and when to bring certain matters to court. We consider the cost-benefit and ease of negotiation but we know success often comes when the matter is elevated to the courts.
The Process
You might be wondering what the process of a high-asset divorce looks like from beginning to end. While no divorce follows a perfect and linear path, generally we go through these phases:
1. Pre-Divorce Planning.
Before you file, one or both partners will work through some planning with an office like ours to ensure they have the right assistance for their case. This is when we would make sure you have all the correct documents to move forward (tax returns, property deeds, bank statements, investment portfolios, business records, etc.). This is also the step where we would help you determine if other professionals such as forensic accountants or financial advisors need to be pulled in to help.
2. Filing for Divorce.
One partner initiates the divorce officially and files a petition to dissolve marriage. The other partner is then served this paperwork and has a set time to respond. Temporary orders for spousal support, custody or property use may be put in place.
3. Discovery Phase.
This is when we get into the complicated matters – together. This intricate process includes your financial disclosures, any hidden assets and business valuations, worth assessments, retirement accounts, intellectual property and any other valuables.
This is often the longest and most intense part of a high asset divorce, but this is also the part where we are by your side the most.
4. Negotiation & Settlement Discussions.
During this phase, attorneys on each side of the marriage will negotiate and settle on an agreement. Mediation or collaborative methods may be used to avoid court. This is when divisions of property are underway, when debts are sorted and when child support, alimony or custody matters are organized.
5. Litigation (if needed).
In some cases, litigation isn’t needed in court, but if we proceed, court is next. Any matters not agreed on in negotiation and settlement will be presented as evidence and testimony in front of a judge for them to make a final decision on disputed issues.
6. Final Judgment.
Once the judgement is complete and rulings are made, the final divorce decree is issued – including asset division, support, and any child-related matters.
7. Post-Divorce Matters.
When we say we’re with the whole way, we mean it. We’re still supporting you after the final judgement to ensure execution of the court orders (e.g., transferring titles, dividing retirement accounts). We can also oversee ongoing spousal or child support and help with potential appeals or modifications if circumstances change.
Negotiation vs. Litigation
Here is a helpful breakdown to best understand the pro’s and cons of different routes that may be taken when it comes to negotiating during a high-asset divorce – or litigating – these matters in court.
Each situation is unique, and is hard to classify as the “right” route to go, which is exactly what we help you navigate at each step of the way.
| Your Concern | Negotiation | Litigation |
| Use Case | ✅ great for cooperative parties | ✅ necessary when parties cannot agree |
| Control | ✅ more control in working directly with each other to reach a mutually acceptable agreement. | ❌ courts decide through a formal process |
| Cost | ✅ generally less expensive | ❌ often incurs legal fees |
| Time | ✅ usually quicker and with flexible scheduling | ❌ often takes months or years |
| Privacy | ✅ private and confidential | ❌ court proceedings are often public |
| Flexibility | ✅ high, with uniquely tailored solutions | ❌ remedies are often limited |
| Stress level | ✅ often low | ❌ can be emotional and stressful |
| Finality | ✅ agreement is binding | ✅ court judgement is final |
Who We Represent
- Celebrities and high-ranking public officials
- Farmers
- Small and large business owners
- Professionals such as doctors, dentists, lawyers, and pharmacists
- Spouses of high-earners
- Heirs and beneficiaries of significant asset transfers
- Savvy investors
How to Get Started
We know a divorce is a lengthy process and a long, stressful journey for all involved. We’re with you during each piece of the puzzle and have the confidence to represent you to your fullest.Want to take the first step? Call us at 479-783-8000.
