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Connecticut High Net Worth Divorce
While all divorces bring a set of challenges, high net worth divorces can be even more demanding. There might be income disparity in the marriage, leading to questions regarding alimony, spousal support, child support, and the division of assets. Even if both parties brought money into the marriage, dividing the assets and agreeing on child custody and parenting can be overwhelming. Because high net worth divorces are so complex, you need a law firm with experience in the nuances. Freed Marcroft is experienced with complicated assets, putting our attorneys in the position to help high net worth clients resolve complicated issues during divorce proceedings.
Possible Issues During High Net Worth Divorce
Freed Marcroft will help you build a financial picture to ensure your rights and assets are protected. Our attorneys can help in even the most complicated of matters by developing strategies regarding:
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HIGH NET WORTH DIVORCE BASICS
When executives, entrepreneurs, and other high net worth individuals divorce, their matters require more attention and experience than other divorce cases because of the added intricacies. Freed Marcroft’s legal team thoroughly understands and effectively advocates for issues including closely-held businesses, complex employer retirement benefits, inheritances and gifts, and prenuptial agreements. Many high net worth clients prefer mediation or collaborative divorce to litigation; ensuring that their personal affairs do not end up publicly available or in the press.
Our divorce attorneys’ lawyering and negotiation skills are top-notch, which is critical, but it’s not the only thing that matters in a high net worth divorce. We care about what you want for your post-divorce life. Our first task will be to help you identify and prioritize your goals. Then, our team of lawyers builds a legal strategy for your divorce that’s focused on the things that matter most to you.
HIGH NET WORTH DIVORCE
Most high net worth clients file for a no-fault divorce in Connecticut. The no-fault grounds are either the marriage has broken down irretrievably or the spouses have lived apart by reason of incompatibility for at least the eighteen months. If you file a no-fault divorce, the court can still determine that one spouse had a more significant role in causing the breakdown, potentially impacting alimony and property division. However, responsibility is just one of many factors that Connecticut courts evaluate when creating divorce orders.
Spouses always have the opportunity to reach agreements in their divorce. These resolutions are reached via negotiation in litigated divorces, mediation, and collaborative divorce. In many high net worth divorces, spouses reach a full settlement agreement resolving all issues. Next, lawyers
present the agreement to the judge at an uncontested divorce hearing. If all is in order, the judge finalizes the divorce.
PROTECTING ASSETS DURING A HIGH NET WORTH DIVORCE
Protecting assets is vital during a high net worth divorce. Freed Marcroft’s divorce attorneys utilize different strategies to prevent the other spouse from hiding or dissipating assets when a divorce is pending. Automatic orders are a tool that prevents both spouses from doing anything that will drastically impact the assets. Sophisticated use of the discovery process reveals hidden assets. Freed Marcroft’s attorneys can also recommend other steps to protect assets or recover fraudulently concealed assets Post Judgment. Confirming assets early in the divorce process is critical to preventing the other party from concealing or misusing property.
BENEFITS OF FILING FOR A HIGH NET WORTH DIVORCE FIRST
There are numerous advantages to filing for a high net worth divorce first. By controlling the date of filing, you will have the opportunity to gather documents before the divorce gets going. Assembling your legal team first means you’ll retain the divorce lawyer of your choice before your spouse has a chance to hire that attorney. You will also be in charge of timing the Automatic Orders. Plus, when there’s potential residency in another state or country, filing first gives you a greater chance of choosing the jurisdiction. This has both practical advantages and strategic advantages – for example one state’s laws may be more favorable to your goals.