Divorce can be challenging for anyone to go through. It’s particularly difficult when you’re in the public eye, or everyone looks to you for answers all the time.
Some factors make a high-asset divorce unique. There are considerations you’ll want to weigh.
Issues that are often unique to high-asset divorces
There are a few unique matters that high net-worth couples must account for when attempting to reach a divorce settlement:
- Real estate: Many high net-worth couples have more than a single marital home. They often have vacation properties, whether here in the U.S. or abroad. They may also have a portfolio of investment properties.
- Diverse investments: Aside from real estate, it’s not uncommon for high net-worth individuals to have assets tied up in stocks, bonds, mutual funds and other investment tools.
- Multiple streams of income: High net-worth individuals often have various income sources depending on whether you have an executive-level job or several businesses.
It can take time for you to track down investments such as real estate or investment options. Zeroing in on how much you make, bonuses or your businesses’ success can be a challenge as well. This can delay property division and complicate spousal support discussions.
Options for reducing conflict in high net-worth divorces
High net-worth couples often have pre- or postnuptial agreements. If you and your spouse entered into one before or after you married, this may reduce potential conflict.
Mediation may be ideal if you never had a pre- or postnuptial agreement. You likely worry about information about your assets, the reason for your divorce, custody of your kids and support obligations becoming accessible to potential customers, colleagues and others. One of the great aspects of mediation is that it happens behind closed doors. Negotiations don’t go on public record. This option can aid in keeping what happens in your divorce private.
Maintaining your privacy is important as a high net-worth individual. Get sound advice about how to best protect your finances and reputation as you divorce.
