Bucks County High Income/Net Worth Divorce Attorney
All divorce cases have their issues, but special considerations must be made when it comes to high income and net worth divorces. These couples often come under far more public scrutiny, but there are steps that you can take to minimize the unique issues that arise with this type of Bucks County divorce case. If you would like to speak with a knowledgeable Bucks County high income/net worth divorce attorney about how a high net worth divorce case, call or contact Kardos, Rickles & Hand today to schedule a consultation.
Complex Asset and Liability Valuation
One of the most significant concerns in a high net worth divorce is the valuation of complex assets and liabilities in the marital estate. High income couples often have substantial portions of their assets and liabilities tied up in complex securities, business interests, financial accounts, and other investments that require an expert to assess and value. This may require a team of professionals like forensic accountants, financial advisors, and others to ensure that the marital estate is valued properly for the equitable distribution of property. Given the complexity of these cases, it is also critical to check that a spouse is not attempting to hide or transfer assets in order to avoid splitting them with the other spouse in the divorce.
Spousal Support and Alimony
Another significant issue in high income and net worth divorce cases is the matter of spousal support and alimony. The purpose of spousal support and alimony is to help maintain the lesser-earning spouse’s standard of living and help them as they become financially independent. Spousal support is paid during the divorce proceedings, and alimony is paid afterwards. This can be a complex and thorny issue for high net worth spouses, as their standard of living is often high, especially when one spouse makes significantly more than the other. These calculations and negotiations require skillful representation to ensure that the proper amount of support is allocated during and after a high income divorce.
One drawback of traditional, litigated divorce in court is that all proceedings are on the record and available to the public. As high net worth divorces often attract attention from the press and community, all information disclosed in court about finances, family, and other personal issues is available for anyone to hear or read about in the court transcripts and motions. One option to consider is the use of alternative dispute resolution methods such as divorce mediation or collaborative divorce because everything remains confidential. All conversations, negotiations, and decisions are kept private and out of the public eye. Even if mediation or collaborative divorce sessions are ultimately unsuccessful, everything said during the sessions remains confidential and cannot be disclosed in open court.
Talk to Kardos, Rickles & Hand Now
Are you concerned about issues regarding your high income or net worth divorce? Let the experienced Bucks County divorce attorneys at Kardos, Rickles & Hand help you navigate the complex legal issues that often arise in these cases. To learn more, call the office or contact us today to schedule an evaluation of your case.