DIVORCE – HIGH ASSET MARITAL DISSOLUTIONS
In high asset marital dissolution cases, the financial issues are often complex, requiring not only impeccable discretion, but also the proper valuation of businesses or other assets, gauging the impact of premarital agreements or estate plans, tracing assets and income to the appropriate spouse, and investigating allegations of hidden assets or fraud. Briol & Benson attorneys have represented clients in high asset dissolution cases, assisting them in ensuring their rights and property are protected. We have the knowledge and experience to provide our clients the sophisticated, personalized representation required to bring their cases to successful conclusion.
BUSINESS & ASSET VALUATION
In order to determine the equitable distribution of marital assets, the court needs a valuation of all assets, including businesses. Often, one spouse has control of the company leaving the other in the dark in terms of its value. Conflict as to the actual worth of businesses is common in divorce.
LITIGATION INVOLVING PREMARITAL AGREEMENTS
Premarital agreements are drafted to simplify aspects of the marriage in case of a divorce. However, these agreements are not always clearly or properly executed and are subject to litigation as part of the marital dissolution process.
ASSET OR INCOME TRACING
Commonly spouses enter a marriage with separate assets and funds which are commingled during the marriage. At the time of divorce a spouse who entered into the marriage with valuable assets will want to claim those assets as separate property. Tracing the separate money and assets back to one spouse is crucial to determine which property should be excluded from distribution.
ALLEGATIONS OF HIDDEN ASSETS OR FRAUD
One spouse might try to hide assets in an attempt to decrease the marital net worth. Assets can be hidden in a variety of ways, such as creating false documents or transferring money and property to a third party. Hiding assets will result in an unfair financial distribution. An important step in a dissolution proceeding is uncovering hidden assets and defending against fraud to ensure an equitable distribution.
TRUST, TRUSTEE & BENEFICIARY ISSUES
Trust, trustee, and beneficiary issues are highly intricate disputes that can arise in a divorce based on a variety of factors. Litigation becomes complex due to when the trust was created, what type of trust was created, and who benefits from the trust at the time of divorce.
CONFIDENTIAL FINANCIAL DISPUTES
An individual’s finances are private. Briol & Benson has extensive experience in high profile dissolutions where we protect clients’ financial information from exposure.
MISUSE OF COMPANY ASSETS
Directors, executives, employees, and majority shareholders often have the opportunity to misuse or steal company assets. Some practices are appropriate business uses and some are not. Still others can be unclear. If a shareholder challenges the use of company assets, the dispute may have to be resolved in court. Briol & Benson has experience litigating the use and misuse of company assets.
Briol & Benson successfully defended the owners of a company when a co-owner sued for a buy-out payment following termination of his employment. The case was resolved on summary judgment, without any trial.
Briol & Benson obtained a favorable resolution on behalf of a client who loaned money to his family’s business and then discovered that one of the key executives running the business was misusing its resources for his own personal benefit.
Briol & Benson obtained a multi-million dollar buy-out on behalf of clients who owned an interest in a family business, when some of the shareholders manipulated the business’s affairs to the detriment of other shareholders, including our clients.
Briol & Benson assisted a fifty percent owner gain control of his company after the other fifty percent owner was convicted of tax evasion, potentially affecting the company’s reputation and creditworthiness.
Briol & Benson successfully pursued a share owner who attempted to collect his desired buy-out payment by withdrawing funds from the company’s bank account. The case was resolved following a hearing on our client’s motion for a Temporary Restraining Order.