While divorce is a difficult process regardless of your net worth, it can be especially challenging for individuals whose assets run into the millions of dollars. For couples with high assets, the divorce process can become an incredibly high-stakes battle to ensure individual post-divorce financial security.
In addition, couples with high net worth often have a particular need for discretion and privacy to protect their business and personal interests. All of these factors come into play when choosing a divorce attorney to handle your high-asset divorce. Take these three factors into consideration as you select the right family law attorney to handle your divorce.
1. Select an attorney with a robust support team
High-asset divorces can be exceedingly complicated matters that oftentimes require the professional assistance of a variety of related specialists. Before you select your divorce attorney, find out what kind of resources he or she provides clients in terms of additional support. One example of a support team member is a forensic accountant, which can be particularly useful in a high-asset divorce, especially if your spouse is hiding assets.
2. Ensure that fee structures are clear from the start
Just because you have a significant net worth does not mean you should automatically have to spend exorbitantly for your divorce. While it is true that specialized family law attorneys who work with high-asset divorces will charge what their services are worth, and divorces do not come cheap, it is also true that you should know upfront how the firm's fee structure works. Ask the firm about what your fees cover, how fees are estimated and about turnaround times for work.
3. Inquire about specific approaches to child support and spousal maintenance
A lot of the factors that come into play in a high-asset divorce predictably revolve around money and finances. Child support and spousal maintenance payments can quickly become the heart of a high-asset divorce case, and how your attorney handles these matters can determine your financial future as well as that of your family. Ask your potential family law attorney how he or she approaches matters of support in a divorce case and how this approach could apply to your particular situation.
Selecting the attorney who will represent you in your high-asset divorce is easily one of the most important decisions you will make for your financial future. If you take the time to do your homework, you may feel confident that you have chosen the right lawyer for your case.