High Net Worth Divorces: Are They Uncontested or Contested?
When both partners have several assets in a marriage, it becomes an issue in the advent of a divorce. Therefore, it is in their best interest to settle out of court so that either party does not risk the loss of a large portion of the property. More so, multiple court proceedings result in higher legal fees.
Hence, it is always great to hire an attorney in cases where a partner shares a high net worth with the spouse. Regardless of the condition that both parties are not undecided about the divorce, consulting an attorney is a cautious move. More so, the rewards of hiring Hollywood High Net worth Divorce Attorney surpass the risks.
From research, one will discover that there are different attorneys for contested, uncontested high net worth divorces. From the wide selection, an individual will discover that there are attorneys with several years of experience in dealing with different divorce cases. Divorce cases are associated with several issues especially at the point of splitting the assets and properties. Therefore, an individual who is pursuing a divorce must always be prepared for unforeseen circumstances.
Splitting up assets and properties between two partners must follow a thorough process. It is because there is a huge amount of money, property, and assets involved. Due to the complexity of this special divorce case, the process will involve the expertise of a qualified Hollywood High Net worth Divorce Attorney.
Dividing Marital Property
Marital property is an important aspect of a divorce case. However, high net worth divorce cases are special types of divorce cases because they are:
- Substantial, and
- Have complex tax considerations
More so, there may be stock options, family businesses, vacation property, and offshore accounts to be divided.
When couples possess substantial estates, they have a tendency to hide the assets from each other. If either party hires a divorce attorney, they are expected to be aware of each party’s tactics. Where a lawyer may be unable to assist his client with legal asset protection, another lawyer may not see this.
When such clients are operating a business, the divorce lawyer in charge of the case may face a few challenges. However, a Hollywood High Net worth Divorce Attorney will conquer the obstacles and divide the assets accordingly.
Complex debt issues and complex assets are interlinked. Both must be divided without bias. In cases where the debts belong to either party, they may be confused as marital debts. Hence, the concerned individual must hire a High Net worth Divorce Attorney with the right expertise in dividing debts and assets.
Dividing debts and assets may come with tax implications. Save yourself the stress of tax implications by hiring competent hands.
You need an expert Hollywood High Net worth Divorce Attorney if you find yourself in this situation. Several lawyers will assure their clients by word-of-mouth that they can handle the divorce process. However, high net worth divorce case requires the attention and expertise of experienced attorneys. Do not make the critical mistake of entrusting the high net worth divorce case with an inexperienced attorney. Rather, hire a specialist High Net worth Divorce Attorney to enjoy the benefits involved.