Complex Issues You Might Face In Your High-Net-Worth Divorce And How An Attorney Can Help You Navigate Them
Posted on: 6 January 2023
Some marriage dissolution processes proceed smoothly without any problems that might require legal help. However, some complex issues crop up during a divorce, forcing couples to enlist the services of an attorney to help them determine what to do. For instance, couples with more assets and property sometimes encounter challenges they cannot navigate independently. You might also encounter the complex issues discussed below when going through a high-net-worth divorce. When they crop up, hire a legal advisor to help you navigate them so you can have a flawless process and a favorable outcome.
Determining Who Owns What
Marriage dissolution for wealthy couples usually becomes complicated if they cannot determine who owns what. This is often when one partner unmistakably lists their assets with family property. When this is the case, disagreements arise when discussing asset division. Further, such an issue can make you wait months to separate officially from your partner. It can also make you spend more money than you may have expected. This is why you need to hire a legal advisor to help you identify the assets you and your partner had bought before you married. Ultimately, this will ensure an equal distribution of marital property and prevent legal disputes in the future.
Determining the Value of Some Assets
People with a lot of wealth also have challenges determining the value of some of their assets. This is especially true if one partner operates a business. In such a case, your lawyer will get a business expert to determine the business's value. They might also get professionals to evaluate other high-value assets and properties to determine their current market price. Ultimately, this will enable your legal advisor to get an actual value of your assets and ensure that you get property of equal value with your partner after dissolving your marriage.
Determining Support Payments
Couples going through high-net-worth divorces sometimes disagree on the number of support payments one partner should pay after separation. This is usually the case when there is a large disparity between the amounts couples earn. In this case, your lawyer can help you to negotiate payments that will enable you and your children to have a comfortable life even after divorce. They will then assist you in drafting agreements that will make these payments legally binding to prevent issues in the future.
If you're dealing with issues that come with a high-net-worth divorce, hire a family law attorney to navigate them. This way, you will get assistance to prevent delays that might cause additional stress and make your divorce more costly. More importantly, you will get a fair share of marital assets and a favorable outcome in other divorce issues.
For more info about family law, contact a local professional.
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