When an individual or a married couple has assets valued at 1 million dollars or more, they are considered to have a high net worth. Couples that are of a high net worth often have a wide variety of assets. In the event that a high net worth couple makes the decision to get divorced, they may face a number of different complexities because of the nature of their financial situation.
High net worth divorces are different than other divorces because there is often so much on the line for each party, especially when it comes to the process of equitable distribution. Of course, a high net worth individual does not want to give up the assets they have worked so hard for over the years. When a couple doesn’t have a prenuptial agreement in place, all marital property may be subject to division. There are a number of different factors that the court will take into consideration when they divide assets, including the length of the marriage, the contribution to property, and others.
Often, high net worth couples have a wide array of complex assets, such as:
- Various real estate properties
- Stocks, bonds, and other investments
- Retirement plans such as 401k’s, IRA’s, pensions, and more
If you have questions about a high net worth divorce, contact our firm today.
The Law Office of Peter L. Jameson, PLLC is an experienced divorce and family law firm located in New City, NY. It is essential to retain effective legal guidance during such pivotal times in life. Contact our firm today to discuss your legal matter and get the quality legal representation you deserve.