High Net Worth Divorce
There are many situations in which a couple who wishes to get a divorce has over $1 million in marital assets. This is known as a high net worth divorce because there is a lot of property and money on the line. This type of divorce can be handled in mediation but it is always helpful to have attorneys and possibly even an accountant present because of the amount of money and other assets that are at stake. It is important to make sure neither spouse is hiding any funds and everything is clearly outlined in the statement of net worth that must be made available for a divorce of this caliber. One of the other major factors in a high net worth divorce is whether or not there was a prenuptial agreement signed before the commencement of the marriage.
When a couple goes through a high net worth divorce, they will have to endure a process known as equitable distribution, just like any other couple getting a divorce has to. It is crucial that you know that equitable distribution absolutely does not mean the same thing as equal distribution. The assets are not split down the middle evenly. One person might walk away with 70-percent of the assets and the other person may only walk away with the remaining 30-perecent of the assets.
If you are going to get a mediated high net worth divorce from your spouse, you will need an experienced and compassionate mediator that can assist you in trying to obtain the assets you desire to walk away with at the conclusion of your divorce.
Judith Goldberg is an experienced Boca Raton mediator serving Palm Beach and Broward County, Florida. If you need a compassionate mediator to guide you through your family law matter, contact our Boca Raton office for a free consultation.