High Net Worth Divorce
A divorce can be a very difficult time, emotionally and financially. This can be especially the case where you and your spouse have significant wealth.
What are some key factors to consider in a high net worth divorce?
The same principles apply to divorces generally, but some key case planning is necessary either to protect your assets or to maximise your financial claims. Here are some points to consider:
- Valuing the assets properly and independently is important to establish what financially is at stake. Commonly this will centre around property assets and which can be located in different parts of the world. There may also be other valuable assets such as cars, paintings, jewellery etc.
- The divorce can also include consideration of any business or trust issues. The value of the interest needs to be properly considered as well as liquidity issues and how any cash can be extracted, if at all. We are frequently instructed in cases involving majority or minority shareholdings and where arguments of discounts might apply. Equally we can help with complex trust or inheritance issues on divorce, to include the concepts of matrimonial and non-matrimonial property.
- Pensions can be one of the most valuable assets in a case. The true value of the pension is often complex especially when there are retirement, health issues or the nature of the scheme, for example a final salary type pension.
- Tax should not be overlooked especially as the tax consequences on a divorce could bite further down the line and significantly effect the fairness of the financial settlement you receive.
- Jurisdiction can be important too. Often in a high net worth divorce there is more than one international jurisdiction to consider. It is therefore important that you look to validly choose the jurisdiction which best suits your case in terms of financial outcome.
- Enforcement is also a relevant consideration. It is fine to have a financial settlement on paper but it is meaningless if you cannot actually obtain your divorce settlement. Drafting issues of a consent order can be considered to anticipate any potential enforcement issues.
It is crucial that you have an experienced and specialist family law team to help you in a high net worth divorce. This should include expertise in dealing with these types of divorce cases but also high client service levels, where speed of response is always necessary. For you, it is also important that you feel comfortable with your divorce solicitor; and have trust and confidence. This is so we can work as a team together and to secure the best financial outcome for you.
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We are ranked in Tier 1 of the Legal 500 for family law cases and have a very strong family law team. James Maguire is also a Fellow of the International Academy of Family Lawyers, which is by invitation only and members are recognised by their peers as being the most expert in their jurisdiction. We have access to the best valuers, accountants, financial advisers, and barristers.
Divorce finance lawyers you can trust
Maguire Family Law are experts in all aspects of divorce finance law and we can inform you of your legal rights and the strength of your case. We’ve helped so many people in so many varied situations, there’s no problem too big or small for us to assist you with.
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