When Do You Need the Assistance of a High-Net-Worth Divorce Attorney?
Divorce is, for the most part, the ‘nuclear’ option for ending a marriage. You might have already tried every avenue to fix your marriage; counseling, conflict resolution, meetings with friends and family, time apart, etc. – but if your marriage is doomed, then it is doomed. Sadly, splitting up from marriage is never easy, quick, or cheap. If you are someone who has a pretty comfortable income, too, you could find that your divorce requires you to hire a high-net-worth divorce attorney.
Having a significant net worth can add extra complications and challenges to the act of divorce. Typically, you will need to hire specific legal experts who are used to dealing with such high-value divorces. A high-value divorce is almost always more challenging because it involves other factors.
For example, you could have a trust involved – this could mean that a large chunk of your wealth is tied up in trusts. How this trust is divided up, or how much of it can be divided up, becomes a legal battleground. Especially if the trusts are held offshore, the legal disputes and arguments can become very complex. Therefore, you want someone on your side who is used to dealing with and overcoming such debates and discussions.
Indeed, a spouse could fairly argue that your trusts, even if they do not have an interest in them personally, are financial assets that should be divided up as part of the divorce proceedings. This is why many choose to go down the route of a prenuptial agreement beforehand: to set out the terms in such a situation.
Specialist advice is needed from day one of your divorce proceedings
If you are someone with a high net worth, it is highly recommended that you seek out specialist support as soon as possible. The peculiar nature of your divorce means many arguments that would not normally be present come to the fore. This can lead to arguments and counterarguments from the other party that would never make it into a normal divorce proceeding.
Therefore, having a legal professional involved can make it much easier to work through your challenges. If you are someone who is being divorced from a high-net-worth individual, too, you might need to find legal support to help prove the quantity and value of their assets. Many divorce cases do what is possible to avoid disclosing various assets and resources held offshore or in trusts. A legal professional, though, can fight to help ensure that these assets are disclosed and thus included in the dispute itself.
This is very important, as it can make it much easier for the truth to come out. Trying to get trust and the like to disclose information to an individual is challenging; a legal professional can find this much easier in general.
Do not take on a high net worth divorce case alone
While it would be inadvisable to take on any legal case on your own, a high net worth divorce is something you always need help with. The legalities and complexities of getting funds and trusts based in different countries to comply are beyond the capability of many normal individuals. You need expert legal support and someone who can help enforce the divulgence of important and crucial legal information.
Keep this in mind; you can find it much easier to work towards progress in your divorce case, whether you are a high net worth individual or are divorcing one, having a legal professional involved can simplify what might have been an exceptionally difficult divorce to navigate.
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