Divorce Advice For High Net Worth Couples

In a majority of divorce cases, wherein partners involved are high net worth couples, the level of planning and strategy required is intense. Few of the major concerns for a mutual settlement in such cases are child custody, property division and alimony. However, it all boils down to how well the settlement has been planned and being executed. Since the amount of property and assets involved in the divorce lawsuits filed by high net worth entrepreneurs is huge, it is utmost essential for the parties involved to seek expert advice from professionals regarding the management of their assets.

Estate planning expert

More often than not, people like to believe that a divorce implies an equal distribution of property and assets acquired during the marriage. However, California law for property division in the event of a divorce is much more complicated than that. Irrespective of how your property, debts and assets are divided, you may seek advice from your estate planning expert on how to modify your living trust and will post the divorce settlement. 

Corporate or business lawyer

Most of the high net-worth entrepreneurs have at least once in their life been associated with a business or corporate attorney to deal with the legal aspects of their company. If you have a trustworthy business lawyer who has helped you out in the past with your contracts, business transactions, intellectual property or partnership formulation formalities, you can appoint him as a legal adviser for your divorce litigation as well. 

Tax professionals

The more complex your property and estate, the more complicated your tax concerns become. For all the high net worth parties, it is absolutely imperative to take the aid of certified tax attorneys who might help them deal with the taxation aspects of their property and assets. 

Real estate professionals

Most of the high net-worth entrepreneurs own some kind of sizeable real estate property such as a home or a piece of rental or commercial land. Such individuals should seek the legal advice of real estate professionals, such as a real estate appraiser or a mortgage broker, to manage the evaluation and division of their property. In case there are more complex transactional issues involved, you may even have to consult a real estate lawyer for your more intricate requirements.

In divorce cases involving high net worth individuals, the stakes are pretty high, and seeking advice form a diverse range of professionals might be your best bet.

Getting divorced in California can be complicated.  Download our free eBook, 18 Important Things to Know About California Divorce to educate yourself on the process.  

Gerald A. Maggio is an experienced Orange County divorce and family law lawyer and family law attorney located in Irvine, California, serving the Orange County and Riverside areas. Mr. Maggio assists clients with legal issues including divorce, legal separation, divorce mediation, child custody, prenuptial agreements, stepparent adoptions, and other family law issues. Mr. Maggio has practiced law in California since 1999, and founded The Maggio Law Firm in 2005, focusing exclusively on divorce and family law matters.