Law Offices of J. Douglas Angel

Protecting Your Assets In A High Net Worth Divorce

You have worked long and hard to earn what you have. Whether it is a family home, an investment property, a successful business or retirement savings, your divorce can easily put your most high-valued assets at risk.

At the Law Offices of J. Douglas Angel, we are well-aware of the lengths people go to in efforts to "get what's theirs" in a divorce. The fact is, a marriage is treated like many business partnerships. Unless stipulated otherwise in premarital or postmarital agreements, you and your spouse will likely have some claim to high-valued marital assets.

Varied Options For Protecting Your Wealth And Financial Stability Post Divorce

In order to protect what is yours, you need to make sure you have an experienced family law legal adviser on your side — someone who can draw on expert resources in business valuation, property appraisals and financial advisory services. We can offer that along with the personal service you need during this challenging time.

Contact our office in Munster, Indiana, to work with a lawyer who not only understands your legal concerns, but also your complex assets. We can help you protect your future.

Attorney J. Douglas Angel has more than 30 years of experience in family law. Since 1995, he has operated his privately owned legal practice. He has seen people through a full range of asset protection issues, including:

The Differences Between Splitting Taxable And Nontaxable Assets

If you have accumulated substantial retirement savings, either through a 401(k), IRA or another account, you will have to be cautious with how you divide these assets in a divorce. Since there are financial penalties (tax obligations and otherwise) to withdrawing funds for these kinds of accounts, you will want to be sure the asset is fairly divided rather than simply exchanged for another asset.

For example, if your spouse offers to give you the full 401(k) in exchange for a similarly valued bank account savings, he or she will have immediate access to cash whereas you alone will have to incur the financial penalties of a 401(k) withdrawal. This would not be a fair deal.

Selling Property Versus Negotiating Ownership

Many divorcing couples have different values regarding property. Your spouse may be personally attached to the family home, whereas to you it was just a financial investment. He or she may not want to sell the home, but you will need to get some sort of compensation for your portion of the equity and protect yourself with regard to the balance owed on the mortgage.

Figuring out how to divide physical assets like a home, car, investment property, etc, can be tricky. You'll need to evaluate what matters most to you and what things you are willing to compromise on. As an experienced mediator, attorney J. Douglas Angel has helped people work out these sensitive details without having to take matters into costly litigation.

Experienced Counsel For Northwest Indiana

The path to overcoming your divorce starts now. Our firm can help you get answers and guidance so you can move forward on a stable financial foundation. Contact our office online or by telephone at 219-961-2166 today to schedule your initial consultation with our full-service family law firm.