Divorce is never easy for anyone, but the stakes are usually much higher in a high net worth divorce case, where a substantial amount of money, property, businesses, assets, and other items end up on the chopping block for division. Of course, such divorces also involve all the usual sensitive issues other divorcing spouses face when dissolving a marriage, such as child custody, visitation, and support, as well as spousal support.
It is important for a divorce lawyer to ensure that every cent is accounted for, including any contributions that were made to the marriage. The following items are typically assessed and valued:
- Large estates or homes
- Vacation homes or other real estate
- Professional practices and other businesses
- Valuables, including jewelry or art collections
- High-value items such as boats or cars
- Stock options, IRAs, or 401(k) plans
Why Are High Net Worth Divorces More Challenging?
With more property and assets to negotiate over, finding common ground on a mutually agreeable settlement can take more time and sometimes end up going to trial if a resolution cannot be reached.
Additionally, some spouses might attempt to hide assets from the other party. While this is illegal, it is still something divorcing spouses commonly turn to in order to shield some of their valuables. If the other spouse’s attorney does not diligently investigate the other party for such assets, the act may go unnoticed, which is why hiring an experienced attorney is important to the successful outcome of this type of divorce.
Rhode Island Divorce Attorneys
At TJC • ESQ, our Rhode Island divorce lawyers strive to keep matters calm and amicable. Our goal is to protect your best interests and navigate you through the process with as little stress and conflict as possible. Ultimately, this is about starting a new chapter in your life, and we are here to ensure a smooth transition into a better future.