Handling High-Net-Worth Divorces With Care
No divorce is easy, but some situations are more difficult than others. For example, high-net-worth divorces often take more time and effort to resolve because of the additional financial complications involved.
The best way to prevent your high-asset divorce from dragging on is to work with an experienced team of legal and financial professionals. That’s where the Law Offices of Diane J.N. Morin, Inc. can assist you. Our skilled attorneys have decades of experience guiding clients through complex proceedings. Discover how we can help you by calling us at 650-473-0822 or reaching out online.
The Impact of Assets on Divorce
High-net-worth divorces have no official legal definition. Many family attorneys define them as divorces involving over a million dollars in assets. Due to California’s community property laws, these types of splits can take significantly more effort to resolve than low-asset ones.
In California, both spouses have the right to half of the marital property unless a prenuptial or postnuptial agreement states otherwise. This means that during high-net-worth splits, it is necessary to find a way to equally divide the overall value of the couple’s joint property. The process can quickly get bogged down when this requirement is combined with the more complex nature of a high-net-worth couple’s assets.
For example, entrepreneurs frequently experience high-asset divorces because their businesses have significant worth. It takes care and attention to detail to determine how best to split companies between spouses without selling them or putting the business at risk. Other examples of complex assets that can lead to more complicated divorces include:
- Pensions and retirement accounts
- Restricted Stock Units (RSUs)
- Stock options
- Intellectual properties
- NFTs and cryptocurrencies
Why Expert Legal Counsel Matters for High-Value Divorces
If you are approaching a high-asset divorce, the experts you work with can make all the difference. Working with a divorce attorney with experience representing couples with significant assets is in your best interest. Not only are these lawyers more familiar with the types of concerns that may arise during your divorce, but they are also better able to connect you with other professionals who can streamline the process, such as:
- Financial advisors to determine the most financially beneficial way to divide your assets
- Appraisers to determine the actual value of intangible assets
- Real estate appraisers to value your real property
- Forensic accountants to ensure you have a full picture of your joint assets
Diane Morin has a significant network of connections and resources that she will leverage to help your split proceed smoothly, regardless of the assets involved. She will help you determine if it is better to pursue alternative dispute resolution methods or litigation to achieve your goals for your assets.
Work With a Team of Experts to Finalize Your Divorce
The demands of high-asset divorces require specialized attention. At the Law Offices of Diane J.N. Morin, Inc., our experts are prepared to assist you with whatever your split may need. Contact us online or call us at 650-473-0822 and allow us to discuss your high-net-worth divorce and the best way to move forward.