Can You Have an Amicable High Asset Divorce?
There’s good news when it comes to high-asset divorce. They can be amicable.
Is it always easy? No, but it can definitely be accomplished. What makes a high net worth divorce so challenging, especially when it comes to emotions?
In a high-asset divorce, there is a lot at stake financially. There is frequently real estate, a vacation home, a luxury car, and sizable savings, investments, and retirement accounts. High-net-worth couples can also have high expectations and be competitive. They may be used to getting their way and may be uncompromising. All that being said, an amicable high asset divorce can be amicable. Here is how.
Manage Expectations
Not everyone gets everything they want in any divorce, let alone a high net worth divorce. If you want an amicable divorce, manage expectations to be reasonable and fair.
Try to Clear Away Emotions
A high-asset divorce is, at its core, a legal agreement. It is the culmination of negotiations and give and take. The goal is a successful process that ends amicably.
Transparency
Hiding assets and not being upfront can lead to mistrust, hurt feelings, and rising tensions. Legal and accounting teams can find assets to make sure everything is up front. This will go a long way towards getting through a high-asset divorce with minimal angst.
Understand Marital vs Non-Marital Assets
It can really help when both parties understand what marital and non-marital assets really mean. This basic understanding can help clear the table of many issues regarding assets and their disposition.
Understand Alimony Laws
States have their own laws regarding alimony, including Florida. There are situations where, no matter how much you ask for, negotiate for, and bargain for, the laws can be limiting.
Consider a Mediator
Some high net worth couples have found that mediation is a good way to experience an amicable divorce. The parties and their attorneys agree to use a mediator with experience in high-asset divorces.
Choose the Right Representation
It is important that you and your attorney are on the same page. If an amicable divorce is high on your list, they can communicate that to the other party’s representation.
Too many high asset divorces are caustic. They involve uncomplimentary traits like greed and revenge. It doesn’t have to be that way. With the right attitude, goals, and representation, even a high asset divorce can be amicable.
If you would like to discuss your situation, we are here to help. It is why we are pleased to offer a no-obligation initial consultation. Reach out to us and schedule a visit. We will talk about your situation and goals. We’ll have an opportunity to see if we can be on “the same page.” You then can decide if you want to move forward with us.
Facing a high asset divorce? We are the Tampa, Florida law firm that specializes in high net worth divorces. Contact us to learn more.
Tampa Divorce Lawyer
If you have questions about a prenup agreement or a postnup agreement or require legal assistance in other areas of Family Law in Tampa, Florida such as high asset divorce you may always contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at [email protected].
We now offer virtual prenuptial agreements. Contact us to inquire further about our virtual prenup option.