A high net worth divorce can bring a large number of difficulties compared to a regular divorce. What’s the difference between a high net worth divorce and a typical divorce? First of all, divorce between couples with significant assets is typically more time-consuming. It is also more expensive and can raise several complex legal challenges regarding the wealth acquired by the high net worth individual – which despite common thinking, is not strictly related to the income. As a matter of fact, assets such as shares, properties, businesses, expensive vehicles (e.g. planes, boats and yachts), intellectual property and investments can determine an individual’s net worth and affect the divorce proceedings.
Due to the high-value nature of the assets involved, determining an agreeable division is often a contentious issue between divorcing partners. For example, identifying the value of mutual funds and jointly-owned businesses and defining a fair distribution can be challenging. In these cases, it’s essential to seek guidance from a skilled divorce solicitor who will work on a strategy to protect your best interests throughout the entire process.
Handing finances is only just one part of a high net worth divorce. Child custody and maintenance play a major role in couples’ settlement of divorce proceedings. Participatory procedures such as family mediation and collaboration have helped couples reach an amicable agreement and minimise the impact of divorce on children. However, child-related issues can sometimes escalate to disputes over arrangements. We understand that high net worth individuals require the best legal advice on child law. Our expert solicitors have helped many clients handling complex divorce cases resolve child custody issues.
If you are a high net worth individual navigating a divorce or a separation, it is crucial to seek advice from an expert divorce solicitor. Our team have many years of experience acting in high net worth divorce cases and can help you secure the best possible outcome protecting your finances, properties, and valuable assets. Call our Manchester team on 0161 835 2446.