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Last Modified on Mar 06, 2026
When you are involved in a divorce with significant wealth, you may be wondering how your assets will be divided during your divorce settlement. At Wooton, Davis, Hussell & Johnson, PLLC, we often serve clients with high-net-worth divorce settlements in Charleston.
You may be concerned about how property, businesses, inheritance, and your retirement accounts will be distributed. The financial aspects of divorce can carry long-lasting consequences, so it’s crucial to know your rights.
Preparing for the Divorce Process
No one wants to consider the possibility of a divorce when they marry. Between 2012 and 2022, the national rate of divorce dropped from 9.8 per 1000 married women to 7.1, and over 1 million people got divorced in 2024.
When preparing for your divorce, you’ll need to carefully gather records before meeting with your attorney. Steps you can take to prepare for your divorce:
- Gather all financial records, including mortgage statements, brokerage and bank statements, loan documents, income tax returns, titles for vehicles and personal property like boats and recreational vehicles, and business records if either spouse owns a business.
- Review prenuptial and post-nuptial agreements with the help of your lawyer to determine their terms and conditions so that the agreements are honored in the divorce.
- Identify all assets and debts, including credit card debts, tax debt, and any bonuses or vacation benefits you earned during your marriage. Your attorney can help you create a detailed list that inventories all assets and debts.
- Avoid major financial changes and debts. It’s vital to avoid excessive spending and accumulation of debts while you are separated, as this can raise suspicion and harm your case. This includes transferring balances, withdrawing large sums of money, and liquidating stock and other assets.
When you hire a high-net-worth divorce lawyer through Wooton, Davis, Hussell & Johnson, PLLC, we can assist you with gathering all the necessary documentation and oversee your filings with the Kanawha County Family Court, located in the Kanawha County Judicial Building at 111 Court Street in Charleston.
How Property Is Divided in High-Value Divorces
It’s vital to hire an attorney with experience in high-net-worth divorces, as these divorces are often complex and require extensive investigation and attention to detail to secure a fair outcome for both spouses. Several factors can impact how marital property and assets are divided in a divorce, including:
- The duration of the marriage. Longer marriages usually result in decisions that reflect a more equitable distribution of assets.
- Contributions to the marriage. These can include financial contributions and non-financial contributions. For example, if one spouse stayed home to oversee childcare and household management so the employed spouse could work, this is considered a contribution to the overall value of the marriage.
- Economic considerations of each spouse. This includes the assets and liabilities each spouse brought to the marriage, as well as the debts and financial needs of each spouse during the course of the marriage.
- Value of separate property, including real estate, businesses, and personal property that was owned by each individual before marriage.
- Tax consequences of property division.
The courts attempt to come to a fair, equitable decision that considers the needs of both parties and honors the best interests of the children, if any minor children are involved. The establishment of spousal and child support is also a factor in many divorces, and support payments are calculated according to many of the factors listed above.
Consulting with a knowledgeable attorney before you decide to proceed with a divorce can help you begin preparing your records and mitigate any concerns you may have about filing for a divorce.
All divorce consultations are confidential, and you need not inform your spouse before scheduling a consultation with an attorney, as the purpose of the consultation is to provide basic information to help you decide how you would like to approach a potential divorce. You are under no obligation to retain an attorney after a consultation.
FAQs
Which Assets Are Untouchable in a Divorce?
Several items do not factor into property division during a divorce settlement, including personal items such as clothing, shoes, accessories, beauty and personal hygiene items, and personal electronics. Other items exempt from division include gifts from one spouse to another, when the transaction can be proven, inheritances received by one spouse, which are considered personal assets, and premarital assets that each spouse owned before the marriage.
What Are the 3 Cs of Divorce?
The Three Cs of divorce are:
- Communication. Cordial, open communication is essential between clients and their attorneys, as well as between both parties involved.
- Cooperation. For a divorce to reach a peaceful, fair conclusion, it is vital to cooperate with the court’s requirements and to negotiate fairly with your spouse.
- Clarification. Clarification protects both parties from harmful misunderstandings and provides clear direction regarding the financial responsibilities and parenting arrangements a divorce entails.
What Can Negatively Impact Your Divorce Settlement?
Poor financial record keeping, asset mismanagement, bad debt accumulated by one party without the other party’s knowledge, asset liquidation, or hiding assets can all be perceived as defrauding the community, which can carry consequences during the final divorce settlement, as all assets and debts must be accounted for before a decision can be registered. Up to 40% of married couples commit financial infidelity.
What Is the Biggest Mistake People Make During a High-Net-Worth Divorce?
One of the biggest mistakes a person can make during a divorce is not seeking advice from an attorney before proceeding with legal action. High-asset divorces are complex legal affairs that require diligence with record-keeping, special considerations around property and business ownership, and proper division of retirement accounts and other high-value assets. It’s crucial to consult with a qualified divorce attorney experienced in high-net-worth divorces to prevent costly mistakes.
Have Questions About Divorce? Hire a High-Net-Worth Divorce Lawyer You Can Trust
At Wooton, Davis, Hussell & Johnson, PLLC, we have over 4 decades of experience serving residents of Kanawha County and the surrounding area. With our client-first, comprehensive approach to high-asset divorce, we can answer your questions and soothe your worries, helping you to receive a fair, equitable decision in your divorce. Contact us today to schedule your informative consultation.
