Tips To Follow When Getting A High Net Worth Divorce
Regardless of the situation, divorce is never an easy process to go through. For couples that are affluent and that have a high net worth, the process is much more complex. Couples who have a high net worth often jointly own businesses, homes, and other assets of high value. High net worth couples also often own executive compensation packages, oil and gas royalties, and trust funds together. High net worth couples often have a premarital or postnuptial agreement that outlines how marital assets will be divided in the event of divorce.
While any divorce can become complicated, those involved in a high net worth divorce are particularly challenging to resolve. If you have a high net worth or are part of a high net worth couple, below are some tips to follow that can help with your divorce.
Speak to a Brandon Divorce Attorney
Sometimes, couples start the divorce process and at some point during it, decide that they want to discontinue the proceedings. This may happen in your divorce case too, or you may both decide to give the marriage another try before proceedings even begin. Still, it is important that you do not count on this happening. If you have already started to talk about divorce, or are even just thinking about it, speak to an attorney about how your assets will be divided. An attorney will also answer all of your questions so you are fully prepared.
Provide Full Disclosure
In any divorce, it is important to create a list of all your marital assets early on in the process. Florida law requires marital assets to be distributed equitably during divorce, which does not always mean fairly. To shield some marital assets from being divided, people sometimes try to hide them. They may move assets or temporarily give them to another person. It is critical that you do not do this. The law requires you to provide full disclosure about all of your marital assets. If you try to hide them, they will likely still be discovered during the process. The fact that you did not provide full disclosure will only hurt you during your case.
Due to the many assets, and the high value of those assets, during divorce, high net worth cases usually take much longer than the average divorce case. You may be tempted to agree to a settlement quickly, just to get the process over with. However, this is usually a mistake. You may forfeit some of your rights that will hurt your financial future. Working with an attorney will also ensure your rights are upheld throughout the process, and that the terms of the case are resolved as quickly as possible.
Work with Our Divorce Attorney in Brandon
Anyone going through a divorce will benefit from working with a Brandon divorce attorney, but this is particularly true when your case involves a high net worth. At Koether Law, P.A., our seasoned attorney has the necessary experience with these cases to help you through the process and give you the best chance of obtaining the best settlement possible. Call us now at 813-347-8193 or contact us online to schedule a consultation and to learn more about your legal options.