If you have more than $1 million in assets then you’ll need a high net worth divorce lawyer who will take special care. Sophisticated asset profiles require sophisticated solutions, in part because some assets can be devalued in their division.
In a high net worth divorce, you need to get very clear on your goals. Is it to retain control over your business? To receive a large enough spousal support payment to support a certain lifestyle? To protect your retirement?
Whatever your goals, the lawyers at Regina family law firm can help. Many of our lawyers have strong backgrounds in corporate law, civil litigation, and real estate law. This additional training gives us the depth of experience we need to come up with creative solutions for your divorce.
Are There Alternatives to Litigation in High Asset Divorces?
Absolutely. Most HNW couples find it’s smarter to negotiate a divorce settlement. This gives you both more flexibility to come up with solutions and keeps you in control. A judge only has a little bit of time to get a bare-bones understanding of your situation before they start dividing up property.
We advise our high-asset couples to put aside their feelings. Forget about taking revenge or punishing your spouse. Approach the process carefully, calmly, and with patience. Treat it as a business relationship. Get the best and worst-case scenarios from your lawyer and aim for a settlement that’s somewhere between those two extremes.
You’ll save a great deal of money and time and are more likely to get a settlement that benefits you in the long run.
How do I Get The Most Money after a Divorce?
First, don’t try to hide assets. Judges will find out, and they will sanction you. Often they will do this by giving all the property you tried to hide to your spouse.
Second, be prepared to hire some experts. You’ll need a valuation professional to find the true worth of your business, or your spouse’s. You’ll need an appraiser for any real property. If you suspect your spouse is hiding assets, you’ll need a forensic accountant. You’ll need an accountant to help you pinpoint the tax consequences of any potential settlements.
After that, work closely with your lawyer to get the best deal you can. Give them feedback from your experts. Work as a team to get the best results.
What is the Normal Divorce Settlement for a High Net Worth Couple?
There is no such thing as normal. Every high asset divorce is different.
Still, you should each own roughly 50% of the net worth of the marital property when the divorce is through, accounting for any spousal support payments that are being made and if looks complicated you may hire a divorce lawyer. Since most assets can’t just be liquidated and split down the middle, this usually requires sophisticated solutions.
Get Help Today
You can set an appointment with one of our high-asset divorce lawyers by calling (306) 791-2189.