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What makes a high-asset divorce different?

| May 18, 2021 | High-Asset Divorce |

High-asset divorces carry particular challenges that most divorcing couples do not need to worry about. The most obvious difference is that you have more wealth than the average couple, making property division more complex.

You may own multiple physical properties instead of only one family home. You might have offshore bank accounts and many investments or business interests. When working out how to divide your property, you need to track all these down and list them.

Calculating your income may be more challenging due to multiple income streams rather than a steady salary. Your income could fluctuate depending on many factors, making predicting future income challenging.

As someone with wealth, there is a greater chance you have pre or post-marital agreements which come into play in a divorce. These can reduce the complexity of the property division process.

Privacy protection is more of an issue in a high-asset divorce

The more you have, the more important it may be to protect your privacy in divorce. Most divorces will never hit the news. While the details may be of interest to people close to the couple, they will never sell papers. Yet if you are in the public eye, people will pay money to read about the details of your break up. If your wealth comes from business, allowing divorce details to leak could affect your standing in the business community. A competitor who finds out you have lost a considerable chunk of your wealth to your spouse may decide the time is ripe to launch a takeover.

It is even more crucial to have the right legal team behind you in a high-asset divorce. You have more at stake than most.