High-Net-Worth Divorce Cases
High-net-worth divorces are more complex than the average divorce because of the significant resources that are at stake, and the willingness of the parties involved to fight over those assets. There are often pre-nuptial agreements to consider, and in some cases, there are even postnuptial ones that could shape the outcome. Such a contract could pose some significant issues and leave people needing to spend more time negotiating, or thinking about exactly what the desired outcome would be from the divorce.
High-Net-Worth Divorce Process
While most contracts are intended simply to make the divorce process a little easier, they can add a number of confounding factors, and those assets are not something that should be divided lightly. Depending on what is at stake, the parties involved in the divorce may be seeking to argue over the value of the assets or to secure specific assets for themselves. It is important that the attorneys help the parties to divide marital property fairly taking into account both financial and sentimental value.
Common Concerns In High-Net-Worth Divorces
- The family businesses
- Savings accounts
- Retirement accounts
- Vacation or rental properties
- Other vehicles
- Investments of any type
Children and a High Net Worth Divorce
Debts and assets are a major concern, and can affect child support payments and any spousal support that is awarded in a high net worth divorce. A family law judge will take into account the entire estate, and will consider the lifestyle that the spouse and the children have become accustomed to throughout the marriage. Things such as the size of the home, the types of vehicle that the parties have access to, and discretionary spending all matter and are taken into account by the judge. High net worth divorces are unusual because of things like public perception – a high level executive might want to control what gets out and to ensure that there is as much privacy as possible throughout the case until the division of assets is decided.
If you are going through a divorce and need advice about dealing with such division of assets, then you should book a consultation as soon as possible. The sooner these details are ironed out, the easier it will be for you and your former partner to go ahead with their lives.