There are few things more complicated than divorce, however, if you are a high net worth individual, the divorce process inherently becomes even more complex. Please read on and reach out to our experienced Pennsylvania divorce attorneys to learn more about high net worth divorces and how we can help you through the legal process going forward. Here are some of the questions you may have:
What defines a high net worth divorce?
If you or your spouse own assets that are worth $1 million or more, then you are in a high net worth divorce. Rather obviously, this implies that you have far more assets worth worrying about if you and your spouse are getting a divorce, which is why you must retain the legal services of an experienced attorney that you can trust.
What assets will I have to worry about in a high net worth divorce?
As stated above, high net worth divorces are complicated, as they take all the complexities associated with “regular” or “traditional” divorce and compound them with additional financial concerns. Since contested divorces generally go into litigation, thereby subjecting all marital assets to equitable distribution, there is a far greater chance that you may lose out on a substantial portion of your wealth. For example. In high net worth divorces, all property you own or rent may be at stake; businesses and partnerships may feel the effects of your divorce; retirement savings, stocks options, pensions, bonds, and mutual funds are also at stake. Though this may sound overwhelming, it does not have to be–our firm here to fight for your hard-earned assets, every step of the way.
Is there any way to protect my assets from a high net worth divorce?
Fortunately, in some cases, you may protect your wealth from the perils of divorce. For example, if you are not yet married, you may draft a prenuptial agreement, which essentially is a written, legally enforceable document that states “who gets what” in the event of a divorce. If you are already married, however, you may still draft a postnuptial agreement with your spouse, which functions very similarly to a prenuptial agreement. In some cases, if you and your spouse own a business together, you may draft a shareholder agreement to ensure your business stays protected.
Contact our experienced Pennsylvania firm
There is nothing worse than sustaining injuries at the hands of a negligent party. Now, you must recover physically, and you must also find a way to pay for your recovery. This is why if you or someone you know has sustained injuries due to another party’s negligence, you must contact the Law Offices of Ilkhanoff & Silverstein today. An attorney who is willing to fight for your right to a smooth recovery can make all the difference.