Gem State Family Law High Net-Worth Divorce

High-Net-Worth Divorce Lawyer in Eagle, ID

Also Serving Individuals in Star, Boise, Meridian & Surrounding Areas

High-net-worth divorces, while following the same legal procedures as other divorces, inherently present more complex issues due to the substantial assets involved. A high net-worth divorce case typically involves parties with a combined net worth of one million dollars or more in liquid assets and other marital estate property. 

The substantial high stakes often add a layer of contention, making these divorces more challenging to navigate, litigate, and/or resolve. Given these complications, it's essential to have legal representation from a professional familiar with the intricate nuances of high-net-worth divorce cases. 

At Gem State Family Law, we are well-versed in these cases and have a track record of protecting our clients' financial interests. Our comprehensive approach involves thoroughly evaluating and valuing all assets and analyzing all economic matters to help ensure you receive a fair settlement or judgment in your favor. 

Our skilled trial lawyer can help you in negotiating such a settlement. However, we will aggressively fight for you with a meticulously prepared case should litigation be necessary. 

Reserve your confidential case evaluation with an Eagle high-net-worth divorce attorney online or at (208) 203-7422. 

Overview of High-Net-Worth Divorce in Idaho

Many complexities can be involved in high net-worth divorces, starting with identifying and valuing all marital assets. 

These can include the following:

  • Diverse financial portfolios: High-net-worth divorces often involve various asset types, including real estate, businesses, stocks, bonds, professional practices or careers, other investments, luxury items, and retirement accounts. These diverse portfolios require careful analysis and valuation, often requiring professionals with specialized knowledge, such as appraisers, business valuation experts, and other financial professionals.
  • Business holdings: If either party owns a business, it has to be valued and possibly divided, adding another layer of complexity. 
  • Concealed or undervalued assets: In high-net-worth divorces, parties may attempt to hide or undervalue assets. Identifying these assets requires a thorough financial investigation.
  • Disputes over asset classification: Disagreements may arise over whether an asset is considered marital or separate, impacting how it's divided.
  • Tax considerations: With substantial assets come significant tax implications. It's crucial to consider these tax consequences when dividing assets.
  • Spousal maintenance: How alimony is handled can impact how assets and property are divided.
  • Child support: High net-worth parents may have disputes over child support, particularly if the child has been accustomed to a certain lifestyle.

The laws governing these matters are designed to ensure fairness, but a fair outcome can be more challenging when large amounts of money are involved. It is not uncommon for one party to outmaneuver the other or for significant disagreements to arise regarding the classification of assets as marital or separate. This is why it is critically important to have a skilled family lawyer experienced in high net worth divorce on your side.

Expert, Personalized Counsel.

Your Family, Our Focus

It's All We Do
  • Idaho’s Premier Family Law Firm
    We have extensive experience handling high net worth cases.
  • Compassionate Representation
    We sincerely care and understand your situation.
  • Meet with Us In Person or Virtually
    Meet with our family lawyers during a virtual or in person consultation!
  • Exclusively Handle Family Law
    We're focused on solely on family law.

Marital Vs. Separate Property in a Divorce

In Idaho, certain assets are typically exempt from division during a high net-worth divorce. These assets are considered “separate” from those in the marital, or “community” estate. 

These separate assets can include the following: 

  • Pre-marital property: Assets or property owned by an individual before the marriage usually remain separate and are not subject to division unless they become commingled into the marital estate. Also, an increase in the asset's value during the marriage may be considered marital property and subject to division.
  • Gifts and inheritances: Individual gifts and inheritances received by one spouse during the marriage are usually considered separate property. However, if these assets are used to benefit the marriage or the other spouse, they may become marital property.
  • Personal injury awards: Compensation for personal injury, specifically for pain and suffering, is usually considered separate property. Other parts of the award, such as compensation for lost wages, may be regarded as marital property.

Commingling, or the blending of separate property with marital, or “community” property, can alter the status of these assets. If separate property is commingled so that it cannot be distinguished from community property, it may become community property and thus subject to division. 

For example, suppose an inheritance (separate property) is deposited into a joint bank account and used for shared expenses. In that case, it may be considered commingled and could be classified as community property. 

The critical factor is whether the separate property can be traced back to its original source. If not, it's likely to be deemed community property. Therefore, it's crucial to maintain clear records and avoid commingling to protect separate assets in a high net-worth divorce.

How Prenuptial Agreements Impact High-Net-Worth Divorce

Prenuptial agreements can significantly impact the dynamics of a high net-worth Idaho divorce. These legally binding contracts entered into before marriage stipulate how assets and liabilities would be divided in the event of a divorce. They often play a crucial role in simplifying the division of assets in divorce.

A well-drafted prenuptial agreement can classify what constitutes separate and marital, or “community” property, thus reducing potential disputes over asset classification. It can also protect pre-marital assets, businesses, inheritance, or potential future earnings from being divided. Additionally, prenuptial agreements can stipulate terms of spousal maintenance, providing clarity and predictability for both parties.

Prenuptial agreements are subject to legal scrutiny during a divorce. For a prenup to be considered valid in Idaho, it must meet specific criteria: it should be in writing, voluntarily signed by both parties, and both parties should have had an opportunity to consult with legal counsel. The agreement should not excessively favor one party over the other and should have been executed with full disclosure of each party's financial situation.

A Favorable Track Record of Settling and Litigating High Net Worth Idaho Divorces

High-net-worth divorces pose unique challenges and complexities that necessitate experienced legal representation.

Gem State Family Law is a firm that has assisted many clients in reaching fair and equitable settlement terms that protect their financial security. At Gem State Family Law, we are also prepared to litigate your case through trial should settlement not be possible. We have the knowledge, resources, and dedication to provide high-quality guidance for your divorce. Trust us to navigate you through this process, ensuring your rights are protected and property interests are vigorously pursued.

Request a confidential consultation about your case with an Eagle high net worth divorce attorney by contacting us at (208) 203-7422.

Client Testimonials

    "Frank treated my family as if it were his own, tirelessly working to help me in my custody case!"

    From the first day I met Frank I knew he was the only choice! Frank treated my family as if it were his own, tirelessly working to help me in my custody case! I feel as if I have not only gained my daughter back in my life but have also gained a family friend for many years to come! If you need someone who is not only hardworking and passionate but also honest caring and attentive toward specific needs and desires in your case then I highly recommend Frank! Thanks, Frank! I have my daughter back because of you!!!

    - Richard S.
    "If you are looking for an attorney who will aid in making you feel confident, comfortable, and knowledgeable, look no further than Frank Leavitt."

    If any of my friends are in need of a fantastic family law attorney, I wouldn't hesitate to give them Frank's contact information. From beginning to finish, he was kind, realistic, and prompt with returning phone calls or taking care of anything that needed to be done on my behalf. In addition to his unwavering professionalism, he never hesitated to ease my worries or concerns. If you are looking for an attorney who will aid in making you feel confident, comfortable, and knowledgeable, look no further than Frank Leavitt.

    - J.J.
    "Frank is an amazing attorney and will fight for you tooth & nail."

    This can be a lengthy review so I'll keep it brief & provide the "need to knows". You need to know: The team is committed to you & your case. Although juggling multiple & various levels of difficulty, court cases, you area always made a priority and handled with the utmost care and respect. Frank is an amazing attorney and will fight for you tooth & nail. Once you two agree on a plan, he will run into a brick wall for you no matter who he has to combat. Frank will always shoot truth and never hype a situation to be what it isn't. I could say more and more, but I think you understand the drift. Not even a question, you should sign on & hire this family team. Frank will be family to me long after my case is resolved. That's the bond we've built. Not to mention, Frank's suit game is impeccable.”

    - Padric H.
    "I could not have gone through those proceedings without his advice, knowledge and expertise."

    After a lot of research I chose Frank Leavitt to help me with a child custody matter and I am so happy I did. He is wonderful, I felt he represented me expertly; I could not have gone through those proceedings without his advice, knowledge and expertise. Always punctual, kept me abreast of all happenings, always had my back in court.

    - Shannon M.
    "I worked with Frank Leavitt and I can't say enough about how excellent he is to work with."

    I can't recommend this law firm enough! They handled my issues with total professionalism with great advice. They weather the storm for you so you can keep your blood pressure down. I worked with Frank Leavitt and I can't say enough about how excellent he is to work with. THANK YOU!!!!

    - Troy G.
    "Frank is effecient, honest, and professional. I couldn't ask for a better Law Firm."

    After filing for my divorce with previous council and not getting the results I was expecting. I came to Leavitt Law Firm and got the best service I could ask for. After relaying my case to Frank. He fixed all the screw-ups my previous attorney failed to achieve. Frank is effecient, honest, and professional. I couldn't ask for a better Law Firm. Thanks, Frank

    - Elvin B.
    "Words can’t begin to describe what an amazing job he did in my case."

    If you are looking for a family law firm to help with your custody matter, contact Leavitt Law Firm and set up a consultation with Frank Leavitt. Words can’t begin to describe what an amazing job he did in my case. He handled the madness in stride, gave sound advice and was well-versed in the issues at the time of all hearings. He was well prepared for everything. When things hit the fan, I was lucky to have him in my corner. He was kind, compassionate, patient, understanding as an individual and knowledgeable in both facts and law as an attorney. Again, call Frank if you need an attorney for family matters.

    - Christopher F.
    "From someone who has gone through multiple attorneys and spent thousands and thousands, trust me when I say Frank Leavitt is the way to go!!!"

    I hired Frank Leavitt for my custody case and I am so glad I did! I had gone through horrible attorneys prior, had spent over 20k in attorneys fees before finding him. I wish I had found Frank from the start! He returns all emails and calls, never have to wait more than 24 hours for a response from him. He listens to everything you have to say and is very sincere. He fought hard for me and my children, I can't thank him enough. The staff at Leavitt office is also very kind and attentive, also very clean inside. From someone who has gone through multiple attorneys and spent thousands and thousands, trust me when I say Frank Leavitt is the way to go!!!

    - Jasmin L.
Expert, Personalized Counsel. Contact Our Firm To Get Started
Get Started