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Navigating A High Net-Worth Divorce

November 8, 2022
C. Alvarez Law

Protect Your Marital Assets in a High Net-Worth Divorce

Regardless of the specifics, the divorce process remains the same. Although high-net-worth divorces follow the same procedures; the components, considerations, and hurdles will likely differ drastically. Don’t assume that you are bound to the traditional process of litigation because your divorce has high-value divorce assets.

If you are committed to resolving your divorce through discussion and mediation, or even through the collaborative method, choose an attorney who shares your values and understands the complexities involved in these cases. Here is what you should do to prepare.

How Can You Prove Your Ownership of Marital Assets?

Before we explain what you should take inventory of and why, know that Florida will divide your assets equally. The courts will begin with the premise that everything should be split equally, but there may be deviations from it. Start a spreadsheet that includes anything of value—even items you have a sentimental attachment to. Gather:

  • W2s 
  • Bank Account Statements (your children’s also)
  • Retirement Accounts
  • Investment Portfolios
  • Debt Records
  • Estate Planning Documents
  • Pay Stubs
  • Information About Your Cars
  • Real Estate Valuations 
  • Businesses You Own

What Happens If I Don’t Have Access to High-Value Divorce Assets?

Gather the documents you can access, and speak with your attorney about helping to obtain the rest. Both parties must disclose their financial information to the other under Florida law. If you or your spouse intentionally try to hide assets, not only could there be significant sanctions, but that may not put you in the best light with the court. 

If you know that your spouse has an account or another asset you don’t have access to, explain this to your attorney. Don’t compromise yourself or your values by trying to uncover things. Your attorney has several legal options for rectifying this situation. Rely on their experience and advice. 

Don’t Be in a Rush to Go to Court

There is no mandate that a high-asset divorce must undergo an extensive, expensive, and potentially public litigation process. When you opt for a collaborative divorce, the attorneys agree not to pursue litigation with those collaborative attorneys (If either side decides to go to court, both parties must find new attorneys.) Furthermore, you are bringing your future into your realm of control. After a judge makes a ruling, there is no more room for negotiation and creativity that you can accomplish in an agreement. 

8 High-Value Divorce Assets to Keep Track of

High-value divorces often involve a variety of complex marital assets that can significantly impact the settlement process. Some common high net-worth divorce assets include:

  1. Real Estate: This can include primary residences, vacation homes, rental properties, and commercial real estate.
  2. Business Interests: Ownership stakes in privately held companies, partnerships, or family businesses.
  3. Investment Portfolios: Stocks, bonds, mutual funds, and other investment vehicles.
  4. Retirement Accounts: Pensions, 401(k)s, IRAs, and other retirement savings plans.
  5. Luxury Items: High-value divorce assets include personal property such as art collections, jewelry, antiques, and luxury vehicles.
  6. Intellectual Property: Patents, trademarks, copyrights, and royalties.
  7. Trusts and Inheritances: Assets held in trusts or expected inheritances.
  8. Deferred Compensation: Stock options, bonuses, and other forms of deferred income.

These assets require careful valuation and legal consideration during divorce proceedings to ensure a fair and equitable distribution.

Contact an Attorney Who Understands High-Net-Worth Divorces

One of the most critical components of a high-asset divorce is the division of assets. This includes having a comprehensive understanding of what you own and what everything is worth. You may need business valuations and appraisals—and we will coordinate them for you. At C. Alvarez Law, we are driven to find resolution peacefully, respectfully, and effectively. Contact us today to schedule a strategy session.

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C. Alvarez Law

C. Alvarez Law is a Central Florida-based law firm that helps families find resolutions to their most complex family law issues. We are dedicated to providing the support and advice you need for a positive outcome and a better life. Before you can move on with your life, you need closure. Our firm is diverse, energetic, and passionate about delivering this for the clients who have placed their trust in us. Let’s work together today to find a better tomorrow.

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