Philadelphia High Net Worth Divorce Lawyer
Ending your marriage is never an easy process, but there can be additional challenges with Pennsylvania high net worth divorce. The entire marital estate, including all assets and debts incurred since the wedding day, is subject to state laws on property division. Plus, alimony can be a hotly contested issue when there would be a significant financial imbalance between the parties after the divorce concludes.
You can trust the Law Offices of Lauren H. Kane to vigorously protect your interests in divorce cases, no matter the value of the marital estate. Please contact us to schedule a case review with a Philadelphia high net worth divorce lawyer who can offer personalized advice. It is also helpful to know what to expect through the proceedings.
Divorce Issues for High Net Worth Couples
Initially, you should realize that parties will encounter the same legal issues in divorce regardless of how the marital estate is valued. However, there are additional complexities and disputes intensity significantly with high net worth divorce. For instance:
Property division starts by classifying assets and debts as marital or separate, and then divvying up marital property according to equitable distribution laws. This process can be hindered by complex assets and ownership, such as interests in a business, trusts, and retirement accounts.
Neither spouse is automatically entitled to alimony, but either party can request it. A court may award spousal support when reasonable and necessary, and the judge will review statutory factors regarding type, amount, and duration. In a high net worth divorce, there could be significant funds at issue, increasing the potential for disputes.
Strategies for Resolving Disputes
Pennsylvania laws encourage parties to agree on property division and alimony, but their efforts toward compromise can be complicated with a high value marital estate. The lines between marital and separate property can be blurred when one spouse owns a business prior to getting married, and the other contributes to it during the marriage. There can also be issues with determining the value of assets, and an official analysis by an accounting professional may be necessary.
However, these complexities ease when you have a lawyer’s help with informal settlement discussion. The parties are at arm’s length as they work through their respective counsel, reducing the potential for heated conflicts. Plus, you can also take advantage of the mediation process for high net worth divorce. Participating in these sessions, overseen by a trained mediator, might also facilitate agreement.
If you cannot agree, it will be necessary to have a judge rule on divorce issues at a contested hearing, which is a trial on outstanding disputes.
Legal Guidance in High-Value Divorce Cases
Considering the challenges, retaining a Pennsylvania high net worth divorce attorney is crucial for protecting your rights. The Law Offices of Lauren H. Kane will advocate on your behalf by:
- Consulting with you to get the big picture on assets and debts, both marital and separate;
- Working with professionals for valuation of real estate and personal property;
- Developing a proposal on property division and alimony to open the door to negotiations;
- Representing you during mediation on high net worth divorce issues; and,
- Fighting for rights during a contested hearing.
A Philadelphia High Net Worth Divorce Lawyer Can Provide Additional Details
Dissolution of marriage proceedings might be more complex when the value of the marital estate is high, but you can feel confident that your case is in good hands when you work with the Law Offices of Lauren H. Kane. To learn more about how we support your needs, please contact us to set up a consultation with a Philadelphia high net worth divorce lawyer.