Between the division of marital property, determination about financial support, and decisions about custody of children, any divorce can become complicated and controversial during litigation proceedings. These difficulties can be enhanced when one or both parties in a divorce has a high net worth, and it is important to settle these cases equitably or, if reasonable settlement is impossible, to procure an equitable result from the courts.
Experience is key when it comes to handling high net worth divorces, so working with a seasoned divorce attorney should be your first priority early on in the process. A skilled Westport high-asset divorce lawyer could help ensure a fair split of your complex financial holdings and create an enforceable agreement.
When a couple has a high total value of marital property, dividing that property during divorce will likely not be as simple as splitting assets in half and giving each party an equal share. In addition to physical property like houses, cars, furniture, and art pieces that must go to one party or the other, joint bank accounts and complex investments, closely held businesses and incentive compensation plans requires both significant financial knowledge and deft legal maneuvering to identify, value and equitably divide.
Additionally, if two divorcing spouses share ownership stake in a business, divesting one or both parties from that business can be a lengthy ordeal even if everyone involved agrees to the terms of the separation. The tax implications of various assets and liabilities can also make this process difficult to get through without professional assistance.
A local high-asset divorce attorney could have the legal skill, professional discretion, and expertise to minimize the financial consequences of high net worth divorces. Once retained, a dedicated legal representative could work with financial experts and appraisers to ensure every possible factor is accounted for during the entire property division process.
Marital assets are not the only difficult aspect of high-value divorces. One spouse having significantly more income than the other can have a huge impact on how much alimony they might be expected to provide a lower-earning former partner, as well as on how much financial support might be needed to provide their children with a consistent standard of living.
Personal net worth is not directly considered when it comes to child custody. A court will never automatically assume that a higher-earning parent would be better-suited for custody than a lower-earning parent. However, the financial ability of each party to provide a sustainable and safe environment for a child will almost certainly be relevant, as will each party’s future earning capacity. A high net worth divorce lawyer in the area could work to emphasize these and other factors in favor of a particular custody and/or support order.
Money can complicate even the simplest of disagreements and disputes, and often has a profound impact on divorce proceedings. If you and/or your spouse have a high net worth, efficiently dissolving your marriage may be beyond the capabilities of attorneys who have not dealt with similar cases before.
The assistance of a Westport high-asset divorce lawyer could make all the difference in how quickly your divorce proceeds and how satisfied you are with the final resolution. To discuss how seasoned legal counsel could help you, call today.