Getting a High Net Worth Divorce

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Getting a High Net Worth Divorce
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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

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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.

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• 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.
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• 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.

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• 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.
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• 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.

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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.

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• 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.

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• 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.

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• 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.

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What You Need to KnowAbout 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.

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• 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.
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• 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.

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• 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.
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• 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.

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• 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/