High Net Worth Divorce Lawyer
Regardless of the circumstances divorce can create a really expensive toll on each parties emotions and their finances, this is especially true when a high networked divorce. When a divorcing couple has a large amount of property, income and assets the stakes are going to be higher. Because high net worth divorces have a higher amount of assets, they are naturally complicated. Dividing a property and a high net worth divorce requires a carefully crafted strategy, and without a plan in place costly mistakes are more likely to occur, and to protect your rights in property in a high net worth divorce you need to keep the following in mind as you work with a high net worth divorce lawyer, such as the ones available at Robinson & Hadeed Family Law.
You should not make emotionally charged decisions. Emotions are running high during a divorce, and it is very common to make rash decisions without considering the long-term implications. In the event of an emotionally driven decision you could end up agreeing to give more property than you deserve to give up, or you might accept a deal that gives you way less then you deserve. While you might think your chores will make your life easier at the moment it might lead to a more time-consuming and emotionally draining fight in the future.
High net worth can quickly become heated, and that is why it is important that you do not attempt to lash out at your ask or punish them for whatever happened to your marriage. Instead you should think about how you would react if this were a professional setting, how do you handle business matters? You handle business matters by being calm, informed and having a plan. Working alongside your high net worth divorce lawyer in Pierce County, WA, your divorce lawyer will be able to help you ensure that your feelings are being put to the side. Your lawyer is going to be able to make strategic and knowledgeable decisions that will protect your best interest.
In any divorce assets must be characterized in the separate or community property, and they must be correctly identified. Only community property may be divided in the divorce, and for high asset couples this process is slightly more complicated.
As a business owner you might have the business prior to the marriage, and therefore your business is separate from your community property. However during the course of that marriage, community property might’ve been used to increase the value of the business. Therefore the business has now been commingled with community property and is likely to be subject to division in the divorce.
Therefore it can be difficult to know if an asset will be considered community or separate property, which makes it very important for you to have an expert on hand such as your high net worth divorce lawyer in Pierce County, WA because they are going to have the expertise that you need.