Every divorce presents unique challenges, but for those with substantial assets, the obstacles are often greater and far more complex. To ensure you receive your rightful share of marital property and assets, it is crucial to hire an attorney with extensive experience in handling such cases, so you can avoid making costly mistakes that may impact your future for years to come.
Why Are High Net Worth Divorces More Complicated?
When spouses have substantial assets, it is easy for partners to hide cash or other valuable assets they wish to shield from the asset division process. Even if neither spouse intends to hide assets, it may happen unintentionally due to their substantial net worth, especially if the marriage lasted for a long period of time.
Moreover, while it is a little more straightforward to determine the value of a home or rental property, determining the value of pre-IPO stock or partnership holdings is often far less simple and requires the assistance of financial experts. As a result, high asset divorces are often more time-consuming and tend to incur higher legal fees.
Determining the lifestyle of a family in such cases is also another challenge during the divorce process. When a couple has substantial assets, their lifestyle is often a bit more lavish and far from ordinary. Therefore, child support and alimony will not conform to the standard calculations that apply to most other divorce cases. That said, it would be unfair to use regular child support or alimony limits when both spouses have enough assets to support the lifestyle they had during their marriage. An experienced high asset divorce attorney can advocate on your behalf and ensure you receive results that are fair for your unique circumstances.
Reach Out to Our Experienced Family Law Team to Discuss Your Case
If you can no longer move forward in your marriage and wish to file for divorce, you will need an experienced attorney to guide you through the process, especially if you have substantial assets. At The Law Offices of Mark R. Hinshaw, PLC, our legal team is committed to guiding clients through every step of the process and will locate all assets to ensure you receive your fair share.
Get started on protecting your assets by contacting our law office today at (515) 200-7571 to set up a consultation with one of our knowledgeable high asset divorce attorneys.