When the stakes are high, the financial and legal experience of your divorce attorney matters.
High net worth divorces often involve more complex issues which go beyond the typical assets
of a standard divorce involving one marital home, 2 cars, credit cards, and 2 retirement accounts.
Often high-net-worth divorces involve some or many of the following property division issues:
How Does a High Net Worth Divorce Differ from a Typical Divorce?
- More than one home, vacation homes, lake houses, or rental properties.
- One or more closely held businesses.
- Multiple retirement accounts.
- Significant cash or liquid investments.
- Sophisticated Income Structures like — Bonuses, Deferred Compensation, Stop Options, Restricted Stock Options, Stock Awards, Profit Sharing.
- Large inheritances
- Trust Funds
- Multiple Investments
- Separate property
- Large Gifts of Property
Property division in high-net-worth divorces often involves a need for evaluating the taxation triggered by the property division options, determining the liquidity needs postdivorce, valuation of nonstandard types of property and making sure that the solution provides an equitable solution that meets your financial needs, both short term and long term.
While high-net-worth divorces often involve more evaluation and more entanglement of assets, that does not necessarily mean that the case must be litigated. In fact, these situations are often best handled in a collaborative or non-adversarial divorce setting, using jointly hired professionals for valuation and taxation issues and being transparent about the property to be divided.
Most high-net-worth cases often choose to resolve their divorce outside the courtroom in one of the following ways:
How Can I Maintain Control of My Divorce?
- Formal and/or Informal Negotiations
- Mediation
- Collaborative Divorce Process
These non-adversarial approaches permit the couple to avoid the emotional and financial stress of protracted litigation. These approaches also resolve the divorce in a more private setting than a courtroom.
Not all divorce attorneys have the education and experience to handle a high-net-worth divorce. Robin R. Zegen has extensive experience in resolving high-net-worth divorces. Call Robin R. Zegen for a consultation and to learn about the different approaches and strategies for resolving your divorce.