Navigating, Litigating & Resolving Complex Legal Matters in an Ethical Manner

High Net Worth Divorce Attorney in Nashville

Ensure You Maintain the Assets to which You are Entitled

Divorce can be inherently complicated. From dividing property and assets to determining child custody, alimony, and spousal support, each decision you make has a lifelong impact. For couples with substantial wealth, the divorce process can become exceedingly complex as high stakes are on the line. If you are contemplating a high net worth divorce in Nashville or the surrounding areas, it is critical that you carefully choose a team of attorneys and support professionals to be on your side.

Reach out to us for high net worth divorce advice and legal guidance! Call (615) 492-2009.

What is Divided in a High Net Worth Divorce?

Tennessee is an equitable distribution state, which means that marital assets are to be divided fairly. However, that does not mean a 50/50 split. At their discretion, Tennessee divorce courts ultimately determine what they consider to be an equitable division of assets.

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One primary issue is whether the asset is "marital property" or "separate property." Marital property (all tangible or intangible property acquired by either spouse during the duration of the marriage) is subject to equitable distribution. On the other hand, separate property (i.e. gifts, bequests, inheritances, property acquired before marriage, and personal injury awards) is not.

When all marital assets and debts are clearly defined, the equitable division of assets must be negotiated.

Assets that may be disputed in a complex divorce include the following:

  • Joint cash and savings accounts
  • Investments and investment accounts
  • Retirement accounts, pensions, and 401(k)s
  • Real estate holdings
  • Valuable personal property (vehicles, jewelry, art, etc.)
  • Family businesses
  • Professional practices
  • Stock options

If you choose Cole Law Group to handle your high net worth divorce case, our Brentwood divorce attorneys will fight for your financial security, well-being, and a fair portion of the marital assets. If necessary, we will enlist the services of a professional appraiser to accurately assess the value of real property, a business or professional practice, stock options, investment accounts, and valuables.

Identifying Hidden Assets

Many times, especially in high net worth cases, a spouse attempts to hide certain assets in order to maintain full control of them. It is critical that all hidden assets are brought to light for the fair division of marital assets. If deemed necessary, your Cole Law Group divorce attorney will enlist the help of forensic accountants to trace assets that you believe are being concealed.

Protect Your Financial Well-Being

Having a team of legal and financial professionals behind you at this time may be critical in order for you to receive a fair distribution of assets. Together we can help you develop a plan to avoid the mistakes people often make in navigating high net worth divorce. We provide professional, determined, and discreet representation.

For an initial case evaluation, contact our high net worth divorce lawyers in Tennessee by calling (615) 492-2009 today!

Protecting Your Business in a Divorce

Divorce can be especially stressful for you, as a business owner, because a lack of strategic planning could put the financial health of your company at risk. Therefore, it is essential to work with attorneys who understand how to protect your business assets and your financial future.

Our lawyers at Cole Law Group represent business owners or their spouses in the Nashville area who are going through the divorce process. Founding Attorney Todd Cole has a particular interest in the protection of business assets because of his previous career in the business sector coupled with his subsequent practice of family law.

Determining Marital Vs. Non-Marital Property

If you started a business before the marriage and your spouse did not contribute to the business in any way, then the company will likely be considered a non-marital asset of which you retain total control.

For small business owners, however, this is often not the case. In making a determination as to whether the business is a marital or non-marital asset, the court will consider the following factors:

  • Is the business jointly owned by you and your spouse?
  • Did your spouse work at the business?
  • Even if you started the business before your marriage or you inherited it, did your spouse make significant contributions that increased the value of the enterprise?

The Right Valuation is Key

Whether we are representing the owner or the spouse, we may choose to work with business appraisers to determine the proper valuation of the business and what part, if any, is subject to equitable distribution. For the owner, we will try to protect your assets by not letting your spouse overstate the value. If you are the spouse, we will fight to prevent an undervaluation that will affect your share.

Finding a Solution that Works for You

In most cases, if you and your spouse have been working together in the business, you will not continue to do so. Viable resolutions to such a scenario could mean one spouse buying out the other's interest in the business, or one spouse retaining total control of the business and its assets while the other gets a comparable piece of the estate. It could also mean selling the business and splitting the proceeds.

Cole Law Group divorce attorneys will work rigorously to find a resolution that keeps the business running smoothly while protecting your investment. In many cases, we advise against long, time-consuming litigation that will drain your finances. Our approach is to work toward creative solutions which are tailor-made to fit your needs.

Division of Retirement Assets in a Divorce

Retirement assets can be one of the most contentious aspects of any property division dispute in a divorce. That is because many people think about their retirement accounts as representing future stability down the road.

However, according to Tennessee law, most retirement assets acquired during a marriage are considered marital assets. At Cole Law Group we can help you understand your rights and counsel you regarding the protection of your retirement assets. Our lawyers are divorce litigators who work as a team to design creative and practical solutions.

We Can Provide Answers

If you already established a retirement account before your marriage, any of that money put in before the marriage will be a non-marital asset. Any contributions and growth in interest during the marriage will typically be considered a marital asset subject to equitable distribution laws, even if your spouse made no contributions.

This includes the following types of retirement accounts:

  • 401(k) retirement plans
  • IRA and Roth IRA plans
  • Pensions

We can work with financial experts who will place an appropriate value on the marital vs. non-marital amounts of your retirement accounts. For example, if your 401(k) was worth $20,000 before your marriage, that amount may still be generating interest.

Do not take money out of your retirement account to try and shield it from the property division process. When discovered, it could negatively affect the outcome of your divorce. Instead, talk with us about your options. We pride ourselves on giving straightforward advice in order to help you make informed decisions that may protect your retirement assets.

To learn more about how we can assist you, call today at (615) 492-2009. Our Nashville high asset divorce lawyers are committed to providing you with everything you need!

“The first step to achieving your goals is finding the right lawyer to represent you.”

- Cole Law Group