Many people do not realize it, but there are different types of divorces, depending on the couple’s circumstances. This is because your unique situation may impact the process. One more complex type of divorce is a high net worth divorce. Read on to learn more.
What is a high net worth divorce?
A high net worth divorce occurs when the couple getting divorced has a combined net worth of $1 million or more. These divorces can be more complex because the more assets a couple has, the more there is to divide.
What assets might be included?
During a high net worth divorce, the couple will have to address all the issues of a regular divorce. This may include child support, child custody, spousal support, the division of assets, and more. However, a high net worth divorce often includes additional assets. Some of the assets that are often considered in a high net worth divorce include:
- Residences and other real estate properties
- Businesses and partnerships
- Investments and deferred stock options
- Retirement accounts including pension plans
- Valuables such as antiques, collectibles, jewelry, art, etc
What steps can I take to protect my assets?
If you are going through a high net worth divorce, you may be wondering how you can protect your assets. One of the best ways to protect yourself and your assets is with a prenuptial agreement. This is an agreement that declares how a couple’s assets should be split in the event that their marriage comes to an end. Often, prenuptial agreements allow couples to shorten or even skip the litigation process altogether. However, prenuptial agreements can be a sensitive subject. As a result, you may not have created a prenup before your wedding. Luckily, you can still create a postnuptial agreement. This is the same agreement, simply created during the marriage, rather than before. Another important way to protect your assets is by working with the right attorney. Be sure to contact a divorce attorney who has worked on high net worth divorces in the past and is familiar with the process.
If you are going through a high net worth divorce, our firm is here to fight for you. Contact us today to discuss your case with a skilled and seasoned divorce attorney. We will advocate for you every step of the way.
Contact Our Rockland County Firm
If you are faced with a family law matter in Rockland County, contact The Law Office of Peter L. Jameson, PLLC today to schedule a consultation.