Bentonville High-Asset Divorce Lawyer

High-net-worth divorces can be complex, demanding a strong legal strategy as well as detailed financial analysis. A knowledgeable Bentonville high-asset divorce lawyer can protect your financial interests and guide you through one of the most difficult times of your life. At Bundy Law, our Bentonville divorce attorneys represent executives, entrepreneurs, physicians, and investors in high-asset divorce cases throughout Bentonville and the surrounding communities.

About Bundy Law

At Bundy Law, we serve high-net-worth clients throughout northwest Arkansas, many of whom have their cases heard at the Benton County Courthouse, located at 102 NE A Street in Bentonville, AR. Our Bentonville family lawyers focus on complex family law issues for individuals who own businesses, hold professional licenses, or have substantial financial assets. Aaron Bundy is a Fellow of the International Academy of Family Lawyers.

Aaron Bundy is Oklahoma’s only attorney to be named a Fellow of the International Academy of Family Lawyers, and we have multiple attorneys who are Fellows of the American Academy of Matrimonial Lawyers. Only a small percentage of family law attorneys have earned the right to be called a Fellow of these organizations. Our accolades highlight the high regard judges and other lawyers have for our skills in managing challenging divorce and family law matters.

What Makes a Divorce High-Asset?

Broadly speaking, a high-asset divorce case is any family law matter that involves significant marital property, complex finances, or income that must be valued. While there is no exact uniform standard, many divorce cases that involve significant assets meet the following criteria:

• Ownership of a business
• Interests in major corporations
• Medical, dental, or professional practices
• Multiple real estate investments or rentals
• Stocks, bonds, or other investment accounts
• Trusts, inheritances, or other wealth

In many cases, a more extensive discovery process will be necessary to uncover all the marital assets and value certain income streams. Forensic accountants or other financial professionals may need to review financial records to verify the information provided to the court.

High-Asset Divorce Laws in Arkansas

Under Arkansas divorce law, the courts adhere to a model of equitable distribution of marital property and debt. Equitable distribution does not necessarily mean equal division of property. The courts in Arkansas may consider several factors when dividing property and debt, including:

• The length of the marriage
• The income and earning potential of each spouse
• Contributions to homemaking and the marriage by each spouse
• Value of all marital property in the divorce
• The financial circumstances of each spouse

In the United States, the divorce rate is 2.4 per 1,000 population. In Arkansas, there is a marriage rate of 7.8, with a divorce rate of 3.0, making it higher than the national rate, with many of these being high-asset divorces.

Property Division in High-Asset Divorces

Determining property division can become more complicated in high-asset cases. High worth can include wealth that is divided between different forms of property, both domestically and abroad. In some cases, there may be significant property that one or both spouses owned prior to the marriage, or some assets may be considered separate property due to inheritances or trusts.

Another issue common in high-asset divorce cases is spousal support, also known as alimony. Arkansas has limitations on the amount and duration of spousal support.

For example, several financial records must be reviewed to determine not only the value of the business but also whether it should be considered marital property. Partnership agreements, financial statements, and tax returns can determine what interest (if any) a spouse may have in the business.

Hire a High-Asset Divorce Lawyer

If you have significant wealth and assets at stake in your divorce, you will want to hire a high-asset divorce lawyer. High-asset divorces can involve many issues not typically seen in standard divorces. Property division can become very complex; it may require forensic analysis as well as business valuations.

An experienced Bentonville high-asset divorce attorney can:

• Spot marital assets and value them.
• Review ownership of business entities.
• Analyze financial transactions that could impact equitable distribution or alimony payments.

Oftentimes, through smart negotiation, we can protect your rights and settle a case without the need for trial. However, if a settlement is not possible, we can advocate on your behalf during trial.

FAQs

What Assets Are Untouchable in Divorce?

In Arkansas, separate property is untouchable in divorce. These types of property can consist of assets owned before marriage, inheritances, and gifts designated for one spouse only. However, these assets can become commingled with marital property or used for marital purposes, which can make your high-asset divorce case more complicated.

What Is a Wife Entitled to in a Divorce in Arkansas?

The wife could be entitled to a share of marital property, which can include real estate, retirement funds, businesses, and investments that were obtained during the marriage. The court could also award spousal support, depending on the situation, especially if there is a large income disparity. Arkansas is an equitable distribution state for marital property. This means that marital property does not automatically split 50/50 upon divorce.

Can a High-Asset Divorce Be Settled Out of Court?

Yes. Many high-asset divorces are settled by negotiation, mediation, or settlement discussion prior to trial. Settlement can give both spouses more say in the outcome and save money on litigation expenses. Any agreement reached must be reviewed by the court to prove that it meets Arkansas law and is equitable to both spouses.

What Happens to a Business in a High-Asset Divorce?

When one or both spouses own a business, the court must decide if the business is marital property and what it is worth. Financial professionals are often hired to review company records, tax returns, and ownership documents. The business can be divided, one spouse can buy the other out, or its value can be balanced with other assets.

Contact Bundy Law

If you are going through a high-asset divorce, Bundy Law can advocate for a fair outcome. Contact us today to get started on your case.