Family Law Attorneys

Why You Need an Experienced Divorce Lawyer in High Net Worth Case

Why You Need an Experienced Divorce Lawyer in High Net Worth Case

Divorce Lawyer

Even the most amicable of divorces are emotionally and financially challenging for all parties involved. However, they are usually straightforward enough that the divorce is finalized to everyone's satisfaction within a matter of months. This is not the case when one or both spouses have a net worth that is substantially higher than average. For these complex cases, you need a skilled divorce lawyer with an intimate understanding of state divorce laws.

Why High Net Worth Divorces Are Challenging

Couples with children always face a more complicated divorce process than those who don't have children. The divorcing parents must determine if one of them should have primary custody or if a joint arrangement is better. There is also the issue of who should pay child support and how much it should be every month. In a high net worth divorce, the state child support guidelines may not apply. This can make an already stressful situation downright contentious.

Another major challenge is that Massachusetts is an equitable division state. That means that the assets you and your spouse own aren't necessarily divided 50/50. The court evaluates numerous factors in order to make a fair decision regarding asset division. Some of the considerations include how long the couple was married, whether both are generally healthy, and the amount of income each party brought into the marriage.

This judge makes this decision regardless if the asset is owned individually unless a prenuptial agreement is in place. Since you could lose more than half of your 401(k), investment accounts, business interests, and other assets, it makes sense to obtain an attorney experienced in high net worth divorces as soon as possible.

Request a Case Evaluation Online

If you are considering divorce or have been served with papers, the next step is to contact us at Kovacs Law Office for a case evaluation. We'll let you know exactly what you can expect each step of the way.