High Profile Divorce Lawyer in Delaware County
Assistance With a High Asset and Complex Divorce
It seems that high profile couples are always splitting up. Whether couples in the public eye actually experience higher rates of divorce or not is debatable, but it is certainly the perception, due in large part to the media. Television and the thousands of online sites seem to relish sharing every detail of a high profile couple's split with the public. It may be unfair, but if you are a professional athlete, entertainer or politician, you often find yourself not only struggling with the end of your relationship, but fighting to keep the intimate details private as well.
Marital Asset Distribution in a Delaware County Divorce
Marital property is all property acquired by either party throughout the duration of the marriage. Often in high-profile cases this can include businesses, securities, bonds, bank accounts, automobiles, household furniture, jewelry, paintings etc. The court's goal is to equitably distribute marital property between the two parties. In order to execute equitable distribution, it is necessary to first identify all marital assets through discovery. The court has the power to investigate and enforce non-compliance among parties (such as non-disclosure of assets) throughout the discovery process. The court is able to levy penalties against non-compliant parties in the process.
Often in a high profile divorce the parties may have significant investments such as stock. How is stock that is determined to be marital assets equitably distributed? Non-cash items such as stock can be handled in several ways. One would be to sell all the stock and then the amount received is subject to equitable distribution. Often in high profile asset distribution a party may wish to retain the stock in their current form for reasons such as tax penalties that could result when sold. In these cases, the stock can be assessed to determine its fair market value and that value is factored in among the division. Then the value of the stock can be off-set by either cash or other property or assets equivalent to the value.
Should I Obtain a Pre-Marital Agreement in Delaware County?
The Law Offices of Sheryl R. Rentz, P.C. recommends having a solid pre-marital agreement constructed and signed before your marriage, or soon after. While it may seem distasteful from a romantic perspective, the reality of being a public personage makes these legally binding agreements a must, not only to protect your assets, but also to safeguard your privacy. A pre-marital agreement, also called a prenuptial, ante-nuptial or colloquially, a "pre-nup," addresses the following:
- All earnings, property holdings, financial and real estate assets each partner owns upon entering the marriage.
- What happens to this money and property if the marriage comes to an end?
- The division of property made, bought or sold during the marriage.
- If relevant, how to handle child visitation, custody, support, inheritance and other issues.
- How to manage future earnings, alimony or other spousal support payments
- The conditions under which these agreed-upon divisions of assets may be amended, such as if one partner is caught cheating or stealing
Safeguarding Your Rights During a High Profile Divorce in Delaware County
In addition to these safeguards, a pre-marital agreement can restrict what each spouse says publicly about the other, their relationship and any issues relating to settlement of their divorce. This restriction can save a high profile person's reputation and livelihood, as private details about what you may or may not have done can have a profound effect on how the public views you. For example, if you are an actor and your future ex states in interviews that you were abusive, it could make movie audiences stop supporting your films and ruin your chances of getting upcoming roles. A pre-marital agreement limiting what your ex can and cannot discuss in the press can save your career, protect your income stream and preserve your personal life from public scrutiny.
If you are about to enter into a prominent marriage or are already facing a high profile divorce, please contact the Delaware County divorce lawyer Sheryl R. Rentz today. We can help you draw up a solid pre-marital agreement or see to it that any existing agreements are enforced. Call (610) 645-0100 today for a free consultation.
- Equitable Distribution in a High-Asset Divorce
- Tax Implications in High-End Divorce Cases
- Tax Implications in a High End Divorce
- How to Navigate a High Asset Divorce involving Children