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Protecting Your Venture Capital Interests in High Asset Divorces
/in Divorce & Family Law/by Kirk Drennan LawWhen a divorce involves an individual or couple with an unusually high net worth, the financial details of that marriage often take months to unwind or figure out. People with this level of wealth often have an intricate financial portfolio containing many different types of assets. Creating an inventory of those assets, determining whether they […]
Fractional Ownership and Divorce: Timeshares, Jets, and More
/in Divorce & Family Law/by Kirk Drennan LawThe concept of fractional ownership is one that is often useful in divorce with high-value or unique assets. Fractional ownership grants both parties a percentage of ownership, which also allows them usage and income-sharing rights. For some parties, this is the ideal way to own an asset that they would otherwise not be able to […]
Dividing Art Collections in High Net Worth Divorces
/in Divorce & Family Law/by Kirk Drennan LawHigh net worth divorces in Birmingham, AL often involve a unique array of assets that aren’t commonly seen in other marriages. If you and your spouse have built up an impressive art collection during your time together, you may be concerned about its fate during your divorce. Beyond the aesthetic value of art, it has […]
How High-Profile Divorces Influence the Market Value of Public Companies
/in Divorce & Family Law/by Kirk Drennan LawDivorce does not happen in a vacuum, affecting only the couple’s relationship. It has a ripple effect on every other area of their lives, including their children, finances, career stability, and living situation. For couples who own and operate a business together, the consequences of a divorce can be significant. Splits involving corporate executives often […]
Unpacking the Complexities of Trust Funds in High-Net-Worth Divorces
/in Divorce & Family Law, family law/by Kirk Drennan LawHigh-asset divorces often involve complicated assets that are less common in standard divorce cases. Various types of trust funds are often split up during high-net-worth splits in Birmingham, but many different factors determine how these funds are actually divvied up. Trusts are established for a variety of reasons, including asset protection and estate planning. When […]
Mitigating the Risks of Business Depreciation During High-Asset Divorces
/in Divorce & Family Law/by Kirk Drennan LawDivorce is challenging in any situation, but when you and your spouse own a business, the situation is even more complicated. Your divorce threatens the stability and financial well-being of your business, and it’s crucial to plan for that as you navigate this difficult time. With careful planning and assistance from professionals, you can help […]
Coping With Lifestyle Adjustments After a High Asset Divorce
/in Divorce & Family Law/by Kirk Drennan LawYour high asset divorce will likely have a profound impact on your financial well-being and lifestyle. Even with a fair division of assets and alimony equaling the playing field, it’s common for both parties to notice a significant decrease in liquidity and overall quality of life. This is natural—moving from one household to two comes […]
Minimizing Reputation Damage During High-Profile Divorces
/in Divorce & Family Law/by Kirk Drennan LawThe stresses of divorce are amplified when the divorce involves high-profile couples. The stakes are incredibly high, and whether your divorce goes smoothly or catastrophically, people will see. High-profile divorces can turn into a media circus, causing distress for everyone involved. If you’re concerned about the effect of your divorce on your reputation, it’s important […]
Understanding QDROs and the Division of High-Value Retirement Accounts
/in Divorce & Family Law/by Kirk Drennan LawThe high stakes of divorce are even higher when valuable retirement accounts are part of the marital assets to be divided. Retirement accounts are often among the most desirable of a couple’s marital assets, thanks to their tax benefits, capacity for growth, and ability to provide for an individual in their golden years. One tool […]
Divorce and Philanthropy: How to Handle Shared Charitable Endeavors
/in Divorce & Family Law/by Kirk Drennan LawEnding a marriage is not just about making custody decisions and splitting up the assets you’ve accumulated during your time together. It also involves determining the future of the legacy you and your ex-partner have created. This is particularly important for philanthropic couples that have made charitable giving a big part of their time together. […]