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Getting a High Net Worth Divorce

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What You Need to Know About Getting a High Net Worth Divorce. Getting the Right Divorce Attorney. What You Need to Know About Divorce Mediation. – PowerPoint PPT presentation

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Date added: 26 November 2019
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Provided by: MichaelEidel
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Title: Getting a High Net Worth Divorce


1
Getting a High Net Worth Divorce
2
TABLE OF CONTENTS
  • What You Need to Know About Getting a High Net
    Worth Divorce
  • Getting the Right Divorce Attorney
  • What You Need to Know About Divorce Mediation

3
What You Need to Know About Getting a High Net
Worth Divorce
  • Divorce is never an easy process. One of the
    factors that makes divorce difficult is money.
    There are also several emotions tied to divorce,
    and the spouse you once knew could become angry
    or extremely sorrowful once the divorce is in
    motion. Unfortunately, divorce is often the time
    when many people find out that their spouse may
    have assets or financial accounts that were
    previously hidden. If you are about to enter in a
    high net worth divorce, there are certain
    precautions you will need to be aware of. Since
    there are assets or corporations involved in a
    high net worth divorce, working with a lawyer is
    usually the best way to ensure that you are
    ending your marriage on the best possible terms.

4
  • When you are searching for a lawyer to handle
    your case, you should select an attorney team
    that is known for handling divorce cases with
    discretion. It is common for people who are
    divorcing to seek a lawyer outside of their city
    or region because they dont want the details of
    the divorce to be shared in their community. A
    legal team that is committed to keeping all your
    information confidential. When you know you are
    working with a divorce attorney you can trust,
    you will feel more comfortable with the process
    and can complete the divorce process in a shorter
    amount of time.
  •  
  • You should also work with a divorce lawyer who
    will handle your divorce according to your
    concerns and the particulars of your marriage.
    The right attorney will be adaptable and can
    accurately respond when situations change. As
    your lawyer gains more information, he/she will
    make the necessary adjustments to your case to
    ensure you are represented well. Qualified
    attorneys will develop a strategy to help you
    move forward successfully after your divorce.

5
  • Looking for these qualities is essential when you
    are involved in a divorce case. The right lawyer
    qualities are especially essential during a high
    net worth divorce, since one or both spouses have
    assets that will likely be contested. Working
    with lawyers who are experienced and skilled in
    high net worth divorces can help to bring about a
    positive outcome, even in an unfortunate
    situation like divorce.
  • The law does not vary in divorce cases, so your
    attorney will still have to adhere to the laws in
    your state and region when you decide to legally
    end your marriage. If you have valuable accounts
    and real estate investments, it is best to hire a
    lawyer who will protect you through each stage of
    the divorce process.
  • In addition to dealing with core issues that are
    a part of most divorce cases like child custody
    and the division of property, high net worth
    individuals will likely have additional divorce
    concerns. These can include hidden assets
    businesses that are bring in significant profit,
    ownership of various properties, alimony and the
    division of pensions and 401Ks.
  •  

6
  • When you are ready to speak with an attorney, ask
    as many questions as possible during the initial
    consultation. Make sure the lawyer you select is
    equipped to handle all aspects of your case and
    expedite the process while making the divorce
    fair and beneficial for you.

7
Getting the Right Divorce Attorney
  • If you and/or your spouse are getting a divorce,
    you may be wondering which steps you should take
    next. There are several factors to consider in a
    divorce and hiring the right lawyer to help you
    through the process is imperative. Here are some
    of the reasons a qualified divorce attorney is
    essential, as well as some tips for choosing the
    right lawyer.

8
  • One of the first things to think about is which
    skills you need from your lawyer. For instance,
    some lawyers are great with court cases, but do
    not do mediation well. Some attorneys only
    specialize in mediation, so it is best to only
    use these attorneys if you do not want to take
    your divorce to court. Other lawyers are experts
    at helping you divide your assets fairly but may
    not offer all the services you need when it comes
    to child custody. An attorney who has experience
    with the facets of divorce that are relevant to
    your case will help to expedite the process and
    reduce some of the stress you are likely already
    experiencing.
  • When you have an idea of the lawyers in your area
    that can provide the services you need, you can
    make a decision about whether you want a
    collaborative divorce, mediation or a litigation
    divorce. Consider the personality of the lawyers
    as it pertains to their specialties. For example,
    if you and your spouse want to divorce amicably,
    do not hire a divorce attorney who is known for
    doing shrewd business and using aggressive
    tactics to get you the alimony or child support
    funds you are seeking. However, if your spouse
    has hired a high-powered attorney who does not
    specialize in mediation, you may need to hire the
    same type of attorney so that you can receive the
    compensation you deserve.

9
  • You should also determine what type of legal
    advice you need when it comes to divorce. You may
    not need the expensive services of a metro-area
    lawyer if you do not have many assets to divide.
    If you and your spouse own several businesses or
    have property together, a lawyer who is
    experienced handling these types of cases is
    best.
  • A private lawyer who is not part of a law firm or
    working for a small firm may be ideal if your
    marriage was short you have no children, and do
    not have retirement plans or real estate to
    divide. Do not spend more money than you have to
    for legal services. This will help better
    organize your finances as you start your new
    life.

10
  • As with many services these days, as you can ask
    for recommendations when it comes to a divorce
    lawyer. While you may not want to divulge your
    personal business to too many people, you can ask
    trusted friends or family members who have gone
    through divorce which attorneys or law firms they
    would recommend. If you are asking for
    recommendations, remember to ask your friends and
    family which divorce method they used. This will
    give you a more accurate idea of what to expect
    when it comes to going through your own divorce
    process.
  • Getting the information you need for your divorce
    can make this unfortunate process go a little
    smoother so you can successfully move on with
    your life.

11
What You Need to Know About Divorce Mediation
  • Even though divorce mediation has a positive
    reputation as a logical and peaceful way to going
    to court, there are still a few things that
    people do not know about the process. Divorce
    mediation is not everything that the public may
    think it is. Here are some things you should know
    about mediation if you are considering this
    method for divorce.
  • Divorce mediation is ideal for two reasonable
    people who have agreed to divorce but cannot work
    all their differences by themselves. Divorce
    lawyers often receive calls and messages from
    potential clients who state that they are seeking
    a divorce and have already reached a settlement
    with their soon-to-be-ex. These clients usually
    want to complete their case with mediation.

12
  • In these cases, these clients do not need a
    mediator they should seek a lawyer who will
    shepherd the divorce settlement legally. A
    divorce in which a couple has already reached a
    settlement does not need to go to mediation.
    Meditation is designed to help people settle
    disputes. If the divorcing couple is not having a
    dispute and wants to divorce amicably, getting
    the necessary legal assistance to complete the
    divorce is best. Simply taking the case to a
    court so a judge can approve it can save the
    divorcing couples considerable time and money.
  •  
  • Divorce mediation is actually a way to settle
    divorcer-related disputes out of court. This
    option allows people to settle their differences
    without much involvement from the legal system.
    The mediation process is structured to minimize
    arguments and defensiveness. The atmosphere for
    mediation is non-confrontational and encourages
    both parties to be logical and peaceful when
    presenting their concerns. A mediator, who is a
    neutral third party, helps the divorcing couples
    reach a peaceful agreement that they are both
    satisfied with.

13
  • It is important to realize that mediators are not
    judges or arbitrators. This means they are not
    allowed to make decisions concerning which party
    will win or lose. Mediators simply guide
    divorcing spouses through negotiations. The
    mediator will guide the dialogue between the
    divorcing spouses and addressing negotiation
    pitfalls that will make the divorce process
    longer and more tedious.
  •  
  • While many people have reported going through
    divorce mediation successfully, it is usually
    best not to seek mediation during the initial
    stages of divorce. The mediation will only be
    effective if both parties are reasonable enough
    to negotiate a divorce settlement. When a couple
    first decides to divorce, one or both parties may
    be too emotional or angry to mediate. In many
    instances, this is because divorces often occur
    because one party wants to divorce and the other
    does not, which can lead to additional conflicts
    that can make mediation difficult.

14
  • Once couples reach a point where they want to
    engage in settlement negotiations, a mediator can
    help divorcing couples decide what is fair in
    terms of dividing property and retirement
    accounts. The mediator can also help divorcing
    couples come up with a logical plan for child
    custody.
  • It is best to find a qualified lawyer to help you
    through the legal aspects of a divorce and meet
    with a mediator to reduce the potential stress
    that can come with divorce.
  • See more at https//www.eidelmanassoc.com/high-net
    -worth-divorce/
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