It does not matter what a person’s net worth is. If they are going through a rough patch in their marriage, they are still facing the same challenges as everyone else trying to make their marriage work. However, if the marriage cannot be saved, and these individuals have to go through a Miami high net worth divorce, they will likely have to face some unique issues that other couples may not have to deal with.
That is why, if you are going through this situation, it is important to understand the issues associated with high-net-worth divorces and know how an experienced divorce attorney can help fight for the outcome you need.
A high-net-worth divorce is often defined as a divorce involving more than one million dollars in net liquid assets. However, today, this amount has substantially increased, and more cases involve multiple millions of dollars.
Yet, regardless of the amount, if your divorce involves substantial assets, it may be in your best interest to reach out to an experienced divorce attorney who can help you take on this complex legal battle and ensure your legal rights are protected.
Because there is often more on the line in a high net worth divorce, specific considerations apply to these situations that you may need to take into account.
For instance:
High net worth divorces tend to take a longer time to resolve because of the unique issues involved with them. In fact, some of these cases can take months to even years to sort out completely. There may even need to be temporary orders issued for temporary living situations, spousal support, or child custody and child support arrangements while the divorce wraps up.
However, due to the extended period of time that it takes to resolve these types of divorces, many couples are often more willing to try to reach an agreement on their own.
Characterizing property under these divorces is critical since separate assets will often remain under the ownership of the spouse who owns them, and marital property will be subject to division. Consequently, under a high net worth divorce, where the value of the assets is often significant, figuring out marital assets can be a taxing and, at times, a contentious battle. Plus, if there is a prenuptial agreement, the situation can become even more complicated.
Individuals going through a high-net-worth divorce often have many questions regarding their legal options. That is why to clear up some of these misunderstandings, and we have prepared answers to some of the frequently asked questions our clients often have regarding a high net worth divorce.
One of the first things you need to do when dividing property is to take inventory of all your assets and valuable items. This list can include things such as:
In addition, working with an experienced high-net-worth family lawyer can help you do a more thorough search and make sure that all assets are included, such as those that your spouse may have tried to conceal.
While you can get divorced without an experienced lawyer, it is not usually in your best interest, especially in a high-net-worth divorce. Due to the complexities and factors involved in these divorces, it is recommended you reach out to an experienced divorce counsel as soon as possible. Otherwise, without one, you can end up losing much more than you had planned.
If you or your spouse earn significant salaries, you may want your divorce proceedings sealed and not exposed to the public. Unfortunately, sealing these records is a complicated process since the party requesting the sealing will have to show that making the information available to the general public would be harmful. As a result, it is usually best to work with experienced legal counsel in these situations.
If you are going through a high-net-worth divorce in Miami, you should have an experienced high-asset divorce lawyer on your side. These legal professionals can not only fight for you and your rights but also stand up for your best interests. That is why you should not wait to secure this legal help. Instead, contact an experienced family lawyer today for a free case evaluation.
Schedule a time to speak with a member of our team at your earliest convenience so we can best help with your situation.
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