{"id":1378,"date":"2021-05-26T00:00:50","date_gmt":"2021-05-26T00:00:50","guid":{"rendered":"https:\/\/fdfamilylaw.wpenginepowered.com\/?p=1378"},"modified":"2026-05-05T06:10:58","modified_gmt":"2026-05-05T06:10:58","slug":"when-millionaires-divorce-how-high-asset-divorce","status":"publish","type":"post","link":"https:\/\/fdfamilylaw.com\/when-millionaires-divorce-how-high-asset-divorce\/","title":{"rendered":"When Millionaires Divorce How High Asset Divorces Work"},"content":{"rendered":"

High Asset Divorce in Maryland<\/h2>\n

Getting a divorce when extreme wealth is involved is a complicated legal process that can take longer than usual to settle. Divorce can be emotionally draining and people who fall under the category of being wealthy should consider hiring an experienced legal team to do the brunt of the work for you.<\/p>\n

Maryland is an equitable distribution state, meaning that your property won\u2019t necessarily be divided equally between you and your spouse.<\/p>\n

What is a High Asset Divorce?<\/h2>\n

A high asset divorce \u2014 also called a high net-worth divorce \u2014 is for couples who typically have $1 million or more in assets. These types of divorces are unique and typically require a knowledgeable divorce attorney with experience in taking cases that are considered high asset divorces.<\/p>\n

If you and your spouse are both in this financial category, you have a little more to be concerned about when it comes to dividing your assets.<\/p>\n

What are Some Assets That May Be Affected?<\/h2>\n

You probably have a lot of questions about how your assets are going to be affected during your divorce, especially if you have several financial accounts that you would want to keep sole access to during your divorce.<\/p>\n

One of the first things you should consider doing after hiring an attorney is gathering all of your financial records. Your attorney can assist you with ensuring all of your financial information is correct and sent to the appropriate agencies, like the IRS \u2014 if needed, and to your spouse\u2019s attorney.<\/p>\n

Some of the assets that can be affected by a high asset divorce are:<\/p>\n