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If you’re in the middle of a high net worth divorce, you can expect the process to be long and drawn out unless the both of you can amicably agree on terms.
In the ideal high asset divorce, both parties will sit down and go through mediation.
However, there are times when the process isn’t simple, and one party’s demands are simply too high. In these situations, we advise couples to still sit down with a mediator and try to avoid the Courts as much as possible.
Your assets dictate whether you’re in a marriage with a high net worth. A general rule of thumb is that you’re in the high net worth classification if you have at least $1 million in liquid assets. Traditionally, the more assets the couple has, the more complex the divorce will be.
A few of the assets that these couples may own include:
In a long and drawn-out divorce, a high net worth couple has more to lose.
Divorce is never easy, but there are many unique considerations that are routinely part of higher net worth divorces. A few of the many concerns are:
Of course, there are also major considerations for investments, real estate, taxes, and more.
Unique assets and interests make mediation the ideal choice for high net worth couples seeking a divorce. A few of the many benefits that you can expect through mediation are:
For these reasons, all couples, especially when they have a high net worth, should consider mediation in divorce rather than going in front of the Court.
In all cases, whether you mediate or end up in Court, working with the right lawyer will help make your divorce move along more smoothly. If you’re searching for a lawyer that can help with your high asset divorce, Triangle Smart Divorce can help.
We’ll fight on your behalf to end your marriage amicably. We take a mediation-first approach to help end your marriage on a good note and save you money.
Ideally, you’ll seek representation as early on in the divorce and separation process as possible. Even if you’re not 100% set on divorce but are considering it, consulting with a lawyer can help you circumvent many common issues along the way. We even offer a vision planning service for individuals who just want an idea of what divorce might look like.
Reach out today to speak to a lawyer about your divorce.
Our practice is entirely dedicated to helping couples move forward with confidence when dealing with divorce. You’re not alone.
Want to know how to prepare for divorce? Use our free resources to guide you. Our mission is to get you to where you want to be — without years of legal fees, court battles and emotional damage.
On occasion, one partner may try to hide assets from the other. Perhaps one spouse has business interests or overseas assets that the other person doesn’t know about. In this scenario, the assets may never be mentioned and cause a major issue if found.
Asset disclosure laws are important for the fair division of assets.
If one spouse doesn’t disclose their assets, this can lead to a few key issues:
In some rare cases, hiding assets may end in jail time for contempt of Court. Intentionally misleading the Court or failing to disclose assets is never in your best interest.
When hiring a divorce lawyer, there are a lot of questions to ask:
It’s always best to work with a lawyer with experience in high asset divorces because they’re better able to help you end your marriage amicably.
Yes. While the divorce process may be similar, a high asset divorce will contain more assets, making the situation far more complex. Spouses have a lot to lose when they go through a divorce where more assets and money are at stake.
We are here to help you succeed and protect what you value most.