Compared to typical divorces, high net worth individuals have many more assets, which can complicate the divorce process. You must hire a lawyer with specialized experience.
The first step to a high net worth divorce is to determine the value of the assets in the marital estate. This is done by hiring a professional appraiser. You may also hire accountants or financial experts to help you determine your assets’ value.
The second challenge with a high net worth divorce is accurately valuing your family’s assets. Assets such as stocks and pensions need to be valued in a fair way. You will need to negotiate with your spouse to settle other issues, such as alimony.
You should avoid settling for anything too quickly. The high net worth individual should approach the property division process with a clear head. Avoid acting on emotional impulses. This could cost you money and increase the cost of the divorce.
Do not hide your assets. This is not only dishonest but can also impact the property division process.
