It goes without saying that divorce is an emotionally and mentally demanding time for both parties. Whether it has been agreed upon by both or one individual is opting for divorce, it can take a lot out of an individual. With that said, matters can become incredibly complicated when children are involved. It is important to ensure that the wellbeing of the child is the most important. With that, financial assets and high net worth divorces can require a heightened level of expertise. To ensure that your assets are well distributed and that the high net worth divorce goes smoothly, it is important to consider a highly trained professional and seasoned lawyer in this field. With that said, we want to share some legal advice on divorce and property laws to consider.
Is Your Divorce High Net Worth?
A high net worth divorce is considered a divorce where one or both parties have existential financial needs or expenses. This can include trusts, funds, stocks, personal assets, real estate, and business assets. With that in mind, it is important to evaluate each factor considerably and with care.
Legal Advice on Divorce and Property Laws
There are numerous types of divorces. However, for high net worth divorce, most commonly both parties have a prenuptial agreement. This is, in short, known as a “prenup.” This is a contractual agreement that is signed and details the distribution of assets and other important factors in the case of divorce. With that in mind, a highly trained lawyer and professional attorney are brought in to ensure the distribution of such assets. At times, a lawyer may assess and challenge the document depending on the specific case and decision for the split.
1. Divorce and Property Rights
One of the crucial components of a divorce is the property rights after divorce Whether you have one property or multiple properties, it is important to consider different factors if you are selling the home or homes. Alongside this, when selling a home there may be applicable tax laws that both parties have to consent to. In this car, a trusted lawyer will step into advise and ensure that the process goes as smoothly as possible.
2. Assets and Trust Funds
Another crucial component is different financial assets and trust funds. With Brandon Divorce Lawyer, it is crucial and our job to never overlook any assets or trust funds during your high net worth divorce. To add to this, it is important to evaluate all factors to make sure that both parties are satisfied and no detail is overlooked.
What is The Best Approach?
As one of the most important factors of divorce and property, it is important to evaluate the different approach that one may take when it comes to their specific divorce case. Although many individuals want to pursue litigation, there are other means that can save time and financial costs in the long run. This is also ideal for individuals that want full discretion when it comes to their divorce.
This alternative method to litigation has been proven to be quite effective, both saving time and money. To add to this mediation is completely private. However, it does require that both parties are willing to address the important matters at hand and willing to work with a mediator. In this case, a highly trained and specialized mediator is involved to ensure that each party comes to a well-informed and a conclusive decision, respectfully.
Collaboration is where both parties attend structured meetings with each parties representative in the room. With this, each individual’s lawyer is present to discuss the split, assets, and agreements when it comes to the children. In this case, both lawyers will ensure that any potential disagreements are minimized during this process.
Arbitration is a valid option when both parties cannot reach an agreement. This is most commonly used during divorces where both parties cannot reach a conclusion using mediation or collaboration, but do not wish to take it to the court. In this process, it is completely private and discreet, without involving the court. However, a third party that does not have any ties to the individuals or their attorneys is brought in to make the final decision.
As we discussed above, litigation is when both parties have decided to involve the court. This can become a timely and lengthy process. However, with the help and guidance of Brandon Divorce Lawyer, you can ensure that you will be well informed and guided during the process.
Know What To Do
A divorce can be a stressful time for both individuals. Therefore, it requires the patience and specialized training of a lawyer that is there to help and advice. With Brandon Divorce Lawyer, you can expect full guidance and legal advice on divorce and property rights! Contact Brandon Divorce Lawyer today if you are seeking expert mediation or litigation alongside someone that is here to support you through this process.