Why choosing a High Net Worth Divorce Attorney is important to you
Legal separation of any kind can be a messy situation for those involved. However, when high net worth individuals are involved in such proceedings it can be far more complicated, with much more to be considered.
This does not mean it has to be any more long-winded or painful for the family. If you choose a high net worth divorce attorney, their expertise can make the process smoother and easier on everyone.
Those with high net worth will have more assets to consider than others, and it can be very difficult to divide these fairly if the legal team aren’t used to dealing with these.
Specialist high net worth divorce attorneys exist in order to dedicate their expertise to individuals that are as such.
They have learned how estates and wealth are acquired, and what should be considered when a high net worth couple seek divorce. They will look at all the different sources of income and wealth, whether it has been inherited, earned through business or invested.
It is imperative that your high net worth divorce attorney can identify and lay on the table all of the assets that you or your partner own.
The issue of custody and care of children also changes a lot if someone is of high net worth.
The child or children’s needs will be different, though their rights do not change. This will help determine how the child is supported in terms of who they live with most of the time.
The best and most obvious example of this is the child or children’s education.
If one party has more net worth than the other, and the child is to spend most of their time with the latter party, the amount of child support and spousal support will probably increase.
There have been many high-profile cases of divorced wives taking lump sums of wealth from their ex-husbands, thanks to high net worth divorce attorneys, but it seems to be less and less the case in the modern age.
The traditional role of women in marriage has changed, and it is quite often the case that both parties will have their own assets and be able to come to an amicable agreement by way of mediation.
It is more likely that there will have been some sort of premarital agreement between both parties, or that the solution will be regular spousal support payments that will last until such time as the court deems necessary.
If both parties are of high net worth, the high net worth divorce attorney will help each individual to realize where they will stand as single people, and advise them on looking after their own assets. This may mean less spousal support, but can also be a point of contention between the ex-couple.
High net worth divorce attorneys are a must for those who are looking for professional and informed advice during a particularly complex legal separation that involves more assets than most.
As long as you pick a reputable company, you can be safe in the knowledge that you and your investments will be protected.