Divorcing your spouse is a significant emotional change for you to make. However, it can also be a substantial financial change as well. For high net worth couples, the process of divorcing can be particularly tricky and complicated.
High Net Worth Divorces Can Pose Their Own Unique Challenges
The number and value of the financial assets that may be at stake in a high net worth divorce proceeding can present its own unique challenges. An example of this could be attempting to untangle the finances to determine the true value of the various assets that the couple may have acquired. This can be particularly complicated for couples that may own a business as it can be difficult to accurately assess the value of these enterprises, as well as their profitability.
A Divorce Attorney Can Assist With The Necessary Negotiations Between The Separating Couple
Any divorce will involve a series of negotiations that will occur between the two spouses. Ideally, it is generally best for the couple to resolve the financial and custody matters through these negotiations rather than through court proceedings. This will help to ensure that a person can have as much say as possible over the distribution of these assets, as well as keep the costs low. Not surprisingly, many individuals will have little experience or a strong distaste for negotiating important financial topics. Luckily, the divorce attorney that you hire will be able to handle this part of the process for you. They can review the offers from the other side and explain them to you, as well as offer assistance with formulating a counterproposal. This will allow you to retain control over the negotiation process without having to handle the potential confrontation that it can involve.
High Net Worth Divorces Can Take Longer To Resolve
Unfortunately, high net worth divorces can take significantly longer to resolve. The more numerous and complex assets of these couples can lead to there being many matters to negotiate before the matter is resolved. This is especially true in situations where there is conflict over the distribution of the assets. If this occurs during your divorce, you may have to spend additional time having professional appraisals of these assets completed. While a lengthy process, this can be an important tool in avoiding the other party under or over-representing the value of the assets that are being divided. Having a professional high net worth divorce attorney represent you during these matters may help to expedite this process by ensuring that the matter is handled in an orderly and efficient way.Share
11 August 2022
I knew that I was in trouble as soon as the cops showed up at my house. I hadn't meant to embezzle money, but I knew that it looked like I had. Instead of trying to explain to police officers how a few thousands dollars ended up in my account, I decided to meet with legal counsel and exercise my right to work with a lawyer. It was incredible what a difference my decision made. Within a few days, I was able to explain my side of the story, give the money back, and reclaim my life. Read my website to find how a lawyer can help you.