High Asset Divorce Cases Encounter Need to Account for New Tax Laws


High Asset Divorce Cases Encounter Need to Account for New Tax Laws


When people of a high net worth decide that their marriage is not going to work and that they need to pursue a divorce, they face many of the same emotional difficulties as anyone else. They also need to go through basically the same property division and estate dissolution process as anyone else, but when there are substantial assets involved those processes can be extremely complicated. That’s because there is simply more property to deal with in general.

People in this specific position also need to begin to think about the new tax laws that are being put in place as they work through the dissolution of a marriage. That’s because certain types of payments are taxable income and others are not. For instance, if someone is paid spousal support in excess of $400,000 per year, that person could face an additional tax burden even though the party paying that support can deduct it. In addition, the new Medicare surtax on capital gains could lead to more tax liability if people decide to split their portfolios.

All of this needs to be accounted for by those involved in this situation, as a failure to do so could lead to an enormous additional tax liability. That’s one of the many reasons that people who face this difficult position need to get past whatever antagonism they are experiencing and work together to come to a fair solution to these problems.

San Diego High Asset Divorce Lawyers

People who are of a high net worth need to do everything possible to organize their estates before embarking on a divorce so that they can make sure that their rights and interests are properly protected and enforced. This is best done with the help of professionals who understand what it takes to handle an estate.

If you are in this position, you need to seek the help of San Diego high asset divorce lawyers who have been fighting for the rights of husbands and fathers for many years. Contact the Men’s Legal Center today to schedule an initial consultation.

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