Protecting and Dividing Luxury Assets in a North Carolina Divorce

In the midst of a divorce, the division of assets can often be a contentious and emotionally charged process. This is particularly true when there is a high net-worth marital estate that contains valuable assets, such as rental and vacation properties, art and other valuable collections, and/or other complex compensation packages and/or investment portfolios. For couples in North Carolina navigating the complexities of divorce, understanding how to protect and divide assets and debt with minimal tax consequences is crucial. As a Collaborative Family Law attorney and certified mediator, lead attorney Robin M. Mermans has extensive experience with high-net-worth divorces. She knows firsthand the challenges that couples face in safeguarding their assets while striving for an amicable resolution. 

Understanding Equitable Distribution

North Carolina operates under the principle of equitable distribution when it comes to dividing marital property during a divorce. This means that assets acquired during the marriage are divided equitably, though not necessarily equally, between spouses. When it comes to luxury assets, such as vacation homes, investment portfolios, or valuable artwork, determining their value is critical and how to divide them can be complex.

Valuing Luxury Assets

One of the first steps in dividing luxury assets is to determine their value. This may require the expertise of appraisers, financial advisors, or other professionals with specialized knowledge in valuing high-end assets. For example, appraisers can assess the value of real estate properties or valuable collections, while financial advisors can provide insights into the value of investment portfolios or business interests.

Protecting Luxury Assets

In some cases, one spouse may seek to protect certain luxury assets from being divided during the divorce process. This could involve demonstrating that the asset is separate property, meaning it was acquired before the marriage or through inheritance, and therefore should not be subject to division. Alternatively, spouses may negotiate agreements to retain ownership of specific assets in exchange for other concessions, such as agreeing to a larger share of an alternative asset or assuming responsibility for certain debts.

Creative Solutions through Collaborative Divorce

As a Collaborative Family Law firm, we believe in finding creative solutions to complex problems. In cases involving luxury assets and/or complex compensation packages, this may mean exploring alternative options for dividing property. This might include structured buyouts, asset swaps, or deferred distribution agreements. By working together with both spouses and their respective advisors, we can find solutions that meet the needs and interests of everyone involved while minimizing conflict, and tax liabilities and preserving assets for the future.

Prioritizing the Needs of Children

Throughout the divorce process, it is essential to prioritize the needs of any children involved. This means considering how the division of assets will impact their living arrangements, financial support, and overall well-being. We’re dedicated to helping parents navigate this challenging time with compassion and understanding, focusing on crafting a settlement and co-parenting plan that supports their children's emotional and developmental needs. Attorney Robin M. Mermans is also a trained co-parenting coach and uses a child-centered approach to help parents overcome communication challenges, develop effective parenting plans, and constructively address potential conflicts.

Contact ROAD to RESOLUTION Today 

Protecting and dividing luxury assets in a North Carolina divorce requires careful planning, strategic negotiation, and a focus on creative solutions. By working with an experienced attorney who is dedicated to helping families resolve conflict and achieve a positive outcome, couples can navigate the complexities of asset division with confidence and clarity. Contact ROAD to RESOLUTION today if you're facing a divorce involving luxury assets.