Attorneys who specialize in high net worth divorces

We tend to think that high net worth divorces involve movie stars or athletes. There are many other divorces that would qualify as a need for special representation.

In these cases, when a mistake is made, it is on a larger scale. Typically, there are large amounts of money, businesses, assets, and property to divide. Attorneys who specialize in these types of laws will inform you that these cases differ from the average divorce case due to their complexity.

Division of matrimonial property

All divorce cases concern the division of marital property. But high net worth cases differ because the assets and property in these cases are more varied, substantial, and have complex tax considerations. Most divorces do not involve problems with foreign accounts, vacation properties, family businesses, and stock options. These special cases do.

Another factor to consider is that couples with substantial properties tend to try to hide assets from each other. A skilled specialist will know the opposing party’s tactics. They will also be able to help with the protection of legal assets for their client, when another attorney cannot.

Business-operating clients represent a challenging problem for a divorce attorney. Someone who is used to working in this area will have experience dividing assets under these conditions.

Debt division

Complex debt problems often accompany complex assets. These too must be divided. While some debts seem to obviously belong to one party or the other, it could be argued that they are marital debts. It is worth paying someone with experience to divide the debt along with the assets.

Tax implications

This division of assets and debts that we have discussed can have staggering tax implications for either party. The average divorce attorney will not have the experience necessary to deal with these situations.

The process

When you are getting divorced, and particularly if you are involved in a high net worth divorce, you need to have an expert on your side. There are many competent attorneys who handle the average divorce every day. Although they are good attorneys, they do not have the experience you need to get divorced with substantial assets.

Even though emotions and frustrations are high, don’t make the critical mistake of entrusting your divorce case to an attorney who is inexperienced in high net worth cases. Hire a specialist lawyer and give yourself the advantage you need.