High-asset divorce: Get your ducks in a row

As we have noted in past select posts, there is an obvious and compelling reason why cookie-cutter divorce kits and advice routinely sabotage rather than promote optimal dissolution outcomes.

That reason is this: Every divorce is unique, with singular considerations that cannot be accounted for through generic forms and advice. Child-related issues might dominate in one case. Perhaps it was domestic violence that served as an explosive catalyst in ending a marriage. Maybe an affair precipitated a divorce filing.

Or, as is so often the case, financial concerns loom large in divorce negotiations, with property division often being a core concern of both soon-to-be former partners.

When that is the case (especially in a high-asset divorce), the close and studied input of an experienced divorce attorney can be crucial in promoting an equitable result.

Other professionals, too, such as financial advisers, can be helpful in decouplings where asset-related matters are key. As noted by a wealth manager and writer in a recent Forbes article on high-asset divorce, though, “financial divorce specialists complement and can never replace divorce lawyers.”

Why is that?

Well, for starters, only an attorney fully understands the relevant laws pertaining to divorce. Moreover, only an attorney commands expertise over relevant legal documentation and can represent a client in court-related matters.

And, unlike the case in most other instances where a client interacts with a professional specialist, the relationship between a client and attorney is deemed to be entirely confidential and privileged. That is of critical importance to many persons in high-asset divorces, who seek to keep their personal financial matters private.

A proven property division attorney can provide further information and strong representation in any family law matter.

Source: Forbes, “Three of the biggest mistakes the wealthy make when divorcing,” Russ Alan Prince, June 9, 2014