Unique Issues for Couples Going Through a High-Net-Worth Divorce
Couples with a significant amount of assets tend to do things differently than those with a more modest income, and their divorces are no different. Instead of a typical “divorce,” couples with a lot of assets go through what is called a “high-net-worth divorce.” A high-net-worth divorce differs from your run-of-the-mill divorce in that the division of assets process is a much longer and involved process. Everything from valuing assets to determining how much of each asset each spouse is entitled to requires a lot of work, and oftentimes leads to lengthy court battles. Because the stakes are much higher in a high-net-worth divorce, the judge must be extremely particular in how he or she chooses to split the assets between the couple.
At the Law Offices of Schwartz | White, our Boca Raton high-net-worth divorce attorneys have extensive experience in helping elite couples protect their individual properties as well as obtain their fair share of the marital assets. If you are about to embark on a high-net-worth divorce, contact our family law firm to see how we can assist you.
High-Net-Worth Marriages Come With Complex Assets
Let’s use Brad Pitt and Angelina’s very high-profile divorce for example. Not only are the two them well known and successful actors, but also, they are both extremely successful entrepreneurs. Brad Pitt owns a profitable production company, Plan B, which has produced blockbuster hits such as Eat, Pray, Love; Selma; and 12 Years a Slave. The company has only generated more revenue since Pitt’s union to Jolie. Assuming that the couple did not have a prenuptial agreement, Jolie is entitled to half of all the company’s revenue generated during the course of their marriage.
In addition to Pitt’s production company, the couple established a wine-producing château in France. Largely successful, Chateau Miraval is reported to mean more to Pitt than Jolie; however, unless the couple listed the property in a prenup as Pitt’s separate property, they may be forced to liquidate the property and split the money. If either party wants to keep the property, the interested spouse may have to come up with the money to buy out the other spouse’s share. The same can be said for Jolie’s baby, the Maddox Jolie-Pitt Foundation.
Finally, with the couple’s combined net-worth of $625 million, there are a lot of complex factors that the judge will be forced to consider when dividing their assets.
How Divorce Affects a Couple’s Business Ventures
We touched on this point briefly with Chateau Miraval, but it is important to understand how your divorce might affect your business ventures. According to The Impact of CEO Divorce on Shareholders, a report compiled by Harvard Law School, divorce tends to impact a business in the following ways:
- Divorce tends to influence the attitudes of CEOs regarding risk;
- Divorce has been known to negatively impact a CEO’s energy levels, concentration, and productivity; and
- CEOs have been known to suffer a loss of influence or control if he or she is forced to sell or transfer a portion of the business to satisfy the terms of the settlement.
Consult a Boca Raton High Net Worth Divorce Attorney
At the Law Offices of Schwartz | White, our high-net-worth divorce lawyers have experience in dealing with complex divorce matters, including the division of valuable assets, properties, and entities. If you own considerable assets, it would be in your best interests to hire an attorney who has experience in handling high-net-worth divorce cases. The attorneys at our Boca Raton family law firm possess the skill, professionalism, and integrity your case needs and deserves.
To learn more about how our attorneys approach high-net-worth divorces, call the Law Offices of Schwartz | White at 561-391-9943 or contact us online to schedule an appointment today.
Resource:
corpgov.law.harvard.edu/2013/12/03/the-impact-of-ceo-divorce-on-shareholders/
