Disclaimer: This article does not constitute legal advice. If you have any questions about your individual situation it is best to seek the advice of an experienced legal professional.
One common assumption is that high asset divorce is difficult. Although there may be complex assets at play, that not necessarily true. While care and caution are always advised, a high net-worth divorce can be a customized process that avoids conflict and stress by relying on the non-adversarial process of professional divorce mediation.
Careful planning can allow people with significant assets to avoid many of the hangups of the standard divorce process. By transferring and buying out assets you may be able to negotiate a divorce settlement that can take care of both parties in the future, thus avoiding future headaches involved in modifiable child support and spousal support. It’s important to get accurate appraisals, valuations and other calculations during your negotiations to have optimized options for division of property. For this reason it’s better to work with an experienced, financially qualified divorce mediation firm, like Divorce Options San Diego.
Simplifying a High Net Worth Divorce
Simplifying a high net-worth divorce is an attainable goal that can be achieved with a few steps that will make the process more efficient:
Use the right divorce mediation firm to have a non-adversarial, mutually beneficial divorce.
Rather than fighting with your spouse, choose a non-adversarial divorce process like divorce mediation with a firm that can handle high conflict, resentment and any of the myriad emotions that accompany a divorce. This will greatly reduce the stress associated with divorce and it will also simplify the divorce process itself. Instead of hiring two separate lawyers and potentially going to court, you can manage your divorce from a common “dashboard.” The mediator analyzes your community property as a whole and comes up with fair ways to optimize your combined wealth by suggesting smart financial decisions involving any investments, property, business interests and trusts. Instead of being emotionally driven, the decision-making process is rationally based, so your property division is planned and executed in a tax advantaged way.
Explore out-of-the-box solutions that reduce the stress of property division.
You don’t have to take the traditional path in divorce by signing up for long-term spousal support or asking the courts to divide your property. There are many innovative ways you can have a fair and equitable divison of community property with your California divorce by bypassing traditional channels, including community property buyouts and exchanges, spousal support buyouts and other solutions that can exchange property of a similar value for assets that aren’t easily divided, for example RSUs, or international property. Your divorce mediator can help you review your options to find the solution that’s right for you.
Assemble an efficient divorce team.
Your divorce team is your most important resource when you are getting a high net-worth divorce. An efficient divorce team should be able to deal with many of the challenges of divorce, including paperwork, valuations, post-filing services and building a life after divorce. One of the benefits of choosing divorce mediation is that you can hire common experts or use in-house valuation services to do appraisals. This means you arrive at a unified estimate and do not battle over numbers. This can greatly simplify your divorce.
Analyze the potential of future income to secure a thriving future.
When you are getting a high net-worth divorce, you can simplify things for yourself by analyzing future as well as current income. Many assets in divorce have speculative value or the value may increase or decrease in relation to inflation. These may include stock options, RSUs, investments, and even pensions and retirement plans, when inflation is considered. Assets like a business or intellectual property may represent a creative effort that both spouses contributed to. The value of any potential implication and the spouses’ contributions should be taken into account. Considering the future potential value of any assets saves a lot of difficulty in the long run, as it ensures spouses feel fairly compensated in the divorce settlement and reduces the possibility of modification or conflict after the divorce is finalized.
Contact our High Net Worth West Coast Divorce Mediation Firm to Get an Efficient Divorce
At Divorce Options San Diego, our West Coast divorce mediators work with divorces where assets may be significant, complex, or have an international component. We are adept at streamlining divorces with multiple assets to produce a roadmap that leads to a fair and equitable divorce settlement.
Our divorce mediation team uses tools that are specifically designed to reduce stress and obstacles in your divorce. We offer in-house appraisal services, documentation services, post-filing services and even assistance with house-hunting and moving. We apply mathematical tools that can help you with property division. In addition, we engage our legal and financial expertise to thoroughly analyze your community property and forecast potentials for growth, wealth and thriving. We have offices in San Diego, Silicon Valley CA and Bozeman MT. We work with divorcing spouses, nationally and internationally via secure private server. Convenience is a key part
of getting through the emotionally difficult process of divorce. Please contact us to learn more about how divorce mediation can simplify your divorce.
