Divorces are often a very difficult matter for anyone to face. When couples have a high net worth, there are a number of additional complexities that the couple will have to handle. A high net worth couple is one that has a combined value of over one million dollars. With that said, a lot of the difficulties with high net worth divorces have to do with the assets that the couple has accrued over the years.
Of course, when an individual works for years to make a life for themselves, they have a lot of different types of assets. Some of the various factors that a high net worth couple may have to address in their divorce when it comes to the division of assets includes the following:
- Retirement plans, such as IRA’s, 401k’s, pensions, stock options, and more
- Multiple real estate investments, such as vacation homes, rental properties, timeshares, and more
- Investments such as stocks, bonds, and more
- Business mattes, such as ownership, partnerships, limited liability companies or corporations
When the court has to step in regarding equitable distribution, they will only divide marital assets, not separate property. Often, when one of the parties has a high net worth as they enter the marriage, there may be a prenuptial agreement. This protects certain assets from equitable distribution.
If you have questions about high net worth divorces, contact our firm today.
If you require compassionate and knowledgeable legal guidance for a matter of divorce, family or estate law, please contact the experienced attorneys at the Law Offices of Cynthia L. Hanley today. Our firm proudly serves clients in Mansfield, Massachusetts and throughout Bristol County.