Trying to resolve a high income/high net worth marriage is emotionally and often legally complex. But when you take into consideration the additional complexities of a high income/high net worth divorce, it can be too much to bear on your own. If you or your spouse are a high net worth individual, it’s important to understand that your divorce will be more challenging to navigate.
Even if you and your spouse have a valid prenuptial agreement, high net worth divorces require the expertise of a skilled certified specialist with years of experience handling complex, high income/net worth cases.
What is Considered a High Net Worth Divorce in Ohio?
If you or your spouse has over $1 million in net liquid assets, then your divorce is typically classified as a high net worth divorce. Since you or your spouse’s income will drastically impact the terms of child support, spousal support, and more, it’s important to get a certified specialist to help you through your divorce. Doing so will drastically improve your chances of getting or retaining the assets you feel you’re entitled to in the divorce.
3 Dos and Don’ts of High Net Worth Divorce
When it comes to exploring the complexities of a high net worth divorce, you will have some hurdles to tackle along the way. Understanding the dos and don’ts of business relationships, valuation concerns, and lists of assets is essential to navigating the process with grace and dignity.
1. Be Proactive and Not Reactionary
When it comes to your divorce, the key is proactively getting help from a trusted divorce attorney. If you suspect your spouse might want a divorce or you are having issues in your marriage, it might be a good time to secure an Ohio Bar Association Certified Specialist in Family Law. Ending your relationship can be filled with contradicting emotions and it can be difficult to make level-headed, rational decisions. So even if a case has not yet been filed, it’s in your best interest to have someone in your corner to help you tackle the process.
2. Don’t Make Financial Moves Without a Consultation
One of the biggest mistakes someone can make when going through a high-net-worth divorce is shuffling finances around to help protect assets. Whether you are trying to make large purchases, hide assets, or move money around, it can lead to more headaches throughout the divorce process. A high net worth divorce attorney can help you make the best decisions for your case and ensure you remain credible in court.
3. Don’t Let Emotions Win Over Logic
As with any divorce, high net worth separation can be stressful, emotional, and complex. To ensure you always make thoughtful and educated decisions, you should run all questions past your Ohio Certified Family Law Specialist. You never want to agree to divorce terms out of frustration or desperation. Take time to make smart, educated decisions that will protect your assets, limit your debt exposure and help prepare you for a brighter future.
The prospect of navigating divorce can leave you feeling a full range of emotions. To ensure you go through the journey successfully, you need to choose a qualified and respected divorce attorney. While it may be tempting to hire the first lawyer you speak to, it’s in your best interest to take your time and choose the lawyer who makes you feel confident in navigating the divorce journey.
Ohio Bar Association Certified Family Law Specialist and Trusted Columbus, Ohio High Net Worth Divorce Attorney
At the Law Offices of Kenneth R. Kline LLC, you can work with a highly experienced attorney who will help you ensure your assets are protected during a high net worth divorce and high income divorce. If you are looking for a high-caliber attorney who understands the laws in Ohio, please contact us for a risk-free consultation in Columbus, Ohio. We offer consultations in person, over the telephone and/or via Zoom.