Greenville High-Asset Divorce Lawyer
Divorce can involve difficult financial decisions even when a marital estate is relatively straightforward. When a marriage involves businesses, investments, retirement accounts, real estate, or other significant assets, those decisions can become considerably more complex. Questions about ownership, valuation, taxes, and future financial stability may all need to be addressed before property can be divided fairly.
A Greenville high-asset divorce lawyer can help identify which assets are marital, determine where professional valuations may be needed, and evaluate the financial consequences of different options. At Mooneyham Berry, our family law lawyers bring more than 40 years of combined experience to complex litigation and family law matters. We help clients understand what is at stake, protect their interests, and make informed decisions throughout the divorce.
If your divorce involves a business, substantial investments, or other significant assets, contact Mooneyham Berry and tell us about your situation.
Financial Insight
Strategy Driven
Trial Ready
Asset Focused
Get The Legal Help You Need
Our Attorneys At Mooneyham Berry Are Ready To Assist You In Any Way We Can
What Makes a Divorce a High-Asset Divorce?
South Carolina law does not set a dollar amount that makes a divorce a “high asset” case. The term generally describes a marital estate with significant value, financial complexity, or both.
The difficulty is not simply the number of assets involved.
Property may need to be classified as marital or nonmarital, professionally valued, traced through years of records, or evaluated for tax consequences. Some assets may also be difficult to divide without affecting their value or future income.
Complex assets may include:
- Privately held businesses: Ownership interests may require professional valuation and planning for continued operations.
- Investment portfolios: Stocks and other investments may carry unrealized gains and different tax consequences.
- Retirement accounts: Pre-tax accounts and employer plans may require specific procedures to divide.
- Real estate: Homes, rental properties, vacation properties, and land may require appraisal and ownership decisions.
- Trusts and inherited assets: Some property may remain nonmarital, while other portions may become disputed.
- Deferred compensation: Bonuses, stock options, and other compensation may involve value earned during the marriage but received later.
How South Carolina Divides Marital Property
South Carolina uses equitable apportionment to divide marital property. The court seeks an equitable division rather than automatically dividing every asset 50/50. Under S.C. Code § 20-3-620, the court considers several factors. These include each spouse's contributions, income, earning potential, nonmarital property, debts, and the tax consequences of the division.
In a high-asset divorce, determining what can be divided comes before deciding how to divide it. Under S.C. Code § 20-3-630, marital property generally includes property acquired during the marriage and owned when marital litigation begins. How an asset is titled does not necessarily determine whether it is marital.
Property that may remain nonmarital includes:
- Inheritances and third-party gifts.
- Property acquired before the marriage.
- Property received in exchange for nonmarital property.
- Property excluded by a qualifying written agreement.
- Certain increases in the value of nonmarital property.
An increase in the value of nonmarital property generally remains nonmarital unless the other spouse's efforts directly or indirectly contributed to that increase. The family court does not have authority to divide property that remains nonmarital.
These rules can become complicated when assets change during a marriage. Business interests may grow, inherited funds may move between accounts, or separate funds may be used alongside marital funds. Mooneyham Berry reviews account histories, ownership records, and other financial evidence to trace assets and determine what portion may be subject to division.
Separation by itself does not necessarily stop property from becoming part of the marital estate. Under § 20-3-630, property acquired after the earliest of certain events is generally nonmarital. Those events include entry of a temporary order, formal signing of a property or marital settlement agreement, or entry of certain permanent orders.
Business Owner Divorce and Business Valuation
A privately held business may be one of the most valuable and complicated assets in a divorce. Three questions often shape how it is handled: Is the business marital, nonmarital, or partly both? What is it worth? What happens to the ownership interest after the divorce?
Determining value may require a qualified business valuation professional. Different valuation methods and assumptions can produce different results, making the financial records behind the valuation important. Relevant records may include:
- Business tax returns and financial statements.
- Bank, credit, and loan statements.
- Ownership and operating agreements.
- Buy-sell agreements and prior valuations.
Dividing a business does not necessarily mean selling it or disrupting its operations. One spouse may keep the business while the other receives a buyout or different marital assets. A buyout may also involve payments over time. The structure can affect cash flow, taxes, and the company's continued operations.
Mooneyham Berry evaluates these issues with both the divorce and the business in mind. We consider how different property-division options may affect ownership, cash flow, and continued operations. We advocate for clients who own a business as well as spouses seeking an equitable share of its marital value.
Complex Property Division and Tax Consequences
Two assets with the same current value may have very different financial consequences after a divorce. Taxes, cost basis, liquidity, and future withdrawal rules can affect what each spouse ultimately receives.
Under IRS Publication 504, qualifying property transfers between spouses or former spouses incident to divorce generally do not trigger an immediate gain or loss. The spouse receiving the property generally takes the other spouse's adjusted tax basis.
That can affect the value of assets such as:
- Retirement accounts: Pre-tax balances may carry future tax liability. Certain employer retirement plans require a qualified domestic relations order, or QDRO, to divide benefits.
- Investment accounts: Stocks and other investments may carry unrealized gains that affect their after-tax value.
- Real estate: Tax basis, mortgage obligations, and plans to keep or sell the property can affect its practical value.
- Business interests: A transfer or buyout may require careful planning around taxes, liquidity, and continued operations.
The family home can raise both financial and practical questions. South Carolina law allows the court to consider awarding the home, or the right to live there for a reasonable period, to the spouse with custody of the children. Rental properties, second homes, and other real estate may also require professional valuation.
Tax consequences are one of the factors South Carolina courts consider when dividing marital property. For a high-asset estate, Mooneyham Berry considers those consequences when evaluating proposed divisions and may work with tax or financial professionals when specialized advice is needed.
Other Issues in a High-Asset Divorce
Property division may be the most complex financial issue in a high-asset divorce, but it is not always the only matter to resolve. Alimony may also be at issue, particularly when spouses have different incomes or earning capacities.
Property division and investment income can also affect the financial circumstances considered in an alimony claim.
When parents have children together, child custody and parenting arrangements may need to be resolved as part of the divorce. South Carolina courts base custody decisions on the child's best interests, regardless of the size of the marital estate.
Mooneyham Berry's
family law practice addresses these issues together when they arise, while keeping the financial complexity of the divorce in focus.
Financial Disclosure in a High Asset Divorce
South Carolina Family Court rules require a current financial declaration when a party's financial condition is relevant to the case. In a high-asset divorce, understanding the full financial picture may require records beyond that initial disclosure. Relevant documents can include:
- Personal and business tax returns.
- Brokerage, bank, and retirement account statements.
- Business ownership and financial records.
- Deeds, mortgages, and property appraisals.
- Trust documents and prenuptial or postnuptial agreements.
Incomplete or inaccurate financial information can affect property division and other financial issues. Account histories and business records may reveal transfers, ownership interests, or assets that require further investigation.
Prenuptial and postnuptial agreements can also affect which property is subject to division. South Carolina law recognizes qualifying antenuptial agreements that address property rights, provided statutory requirements are met. Mooneyham Berry reviews existing agreements early to determine how they may affect business interests, separate property, and other assets.
How Mooneyham Berry Handles a High-Asset Divorce
High-asset divorce cases often require financial work before meaningful settlement discussions can begin. Mooneyham Berry starts by understanding your priorities and identifying the assets and financial issues that may affect the outcome.
Depending on the case, we may:
- Review financial records, property ownership, and existing agreements.
- Identify marital and nonmarital assets that may require tracing.
- Obtain valuations for businesses, real estate, or other significant property.
- Use financial discovery to investigate disputed or incomplete information.
- Evaluate settlement options and their financial consequences.
- Prepare for mediation, Family Court hearings, or trial when disputes remain.
Some high-asset divorces can be resolved through negotiation or mediation. Others require the court to decide disputed questions about ownership, value, or division. We advocate for our clients in either setting and keep them informed as financial information develops.
Asset values, business finances, and account balances can change during a divorce. Addressing those issues early helps us build a clearer picture of the marital estate and protect our client's financial interests.
Experience With Complex Financial and Business Divorces
High-asset divorce can require more than family court experience. Business ownership, disputed valuations, financial records, and complex property issues may all affect how a marital estate is divided. Mooneyham Berry brings experience with both family law and business-related disputes to these cases.
Kim Berry leads the firm's family law practice and has experience with complex business dissolutions resulting from divorce. The firm also brings business litigation experience when ownership, valuation, or other business issues become part of the dispute.
With more than 40 years of combined experience, Mooneyham Berry approaches each case based on the client's priorities and the issues that actually require resolution. We look for opportunities to reach workable agreements while preparing to advocate for our clients in Family Court when disputes remain.
High-asset divorce can involve decisions that affect a client's finances long after the case ends. We explain the options, keep clients informed as financial issues develop, and advocate for their interests throughout the process.
Protecting Your Financial Interests During Divorce
A high-asset divorce can affect your business, property, investments, and financial security for years to come. You deserve to understand what is at stake before making decisions about assets you may have spent years building.
At Mooneyham Berry, we help clients identify the financial issues that matter most and understand how different options may affect them after the divorce. Whether the case involves a privately held business, substantial investments, real estate, or disputed property, we work to protect your interests while pursuing a workable resolution.
Our office is located at 1225 S Church Street in Greenville. If your divorce involves significant or complex assets, contact Mooneyham Berry to discuss your situation with a Greenville high-asset divorce lawyer.