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 of the biggest challenges of getting a divorce with complex assets is how to manage the disclosure of assets. Even when both parties are committed to an open and honest divorce, there could be issues involving trust, privacy, security and the difficult problem of how to keep track of complex international assets.
Ideally, the divorce should be a process of working out how to optimize the marital property so that decisions about property division don’t cost you. The full disclosure of assets and debts in a divorce is also the only ethical and legal way to proceed. It is easier to get there, however, if you choose a divorce process that is confidential, thorough and accessible. The benefit of high level international divorce mediation is that unlike adversarial forms of divorce, the process is collaborative and comprehensive, so nothing gets left on the table.
Privacy and Transparency in International Divorce
Some people may not feel comfortable disclosing details related to their assets during their divorce. They could think this might threaten their business, security or reputation. Divorce mediation is a private and confidential process where divorcing spouses can work out the details of their divorce outside a courtroom in a non-adversarial manner that makes the most of their marital community property.
The private, confidential and non-adversarial nature of divorce mediation provides a secure container for people embarking on an international divorce to disclose international property and business interests. There are many situations in which international decisions about property may be best served by a discreet and efficient approach involving divorce mediation. For example:
Selling a Private Business or Transferring Business Interest
News about the personal lives of people can affect the value of a business. Privacy, confidentiality and a non-adversarial approach could encourage parties to disclose business interests in a discreet way that won’t impact the value of a business or business interests. In many cases it’s actually smarter to hire a mediator who works for both of you, rather than an attorney who advocates for your separate interests. In a non-adversarial divorce, a mediator will look out for the overall health of your marital estate, which should lead to smarter solutions.
Deciding What to Do About Valuable Real Estate and Tangible Property such as Collectibles
In a high net worth international divorce, people may have private estates, holiday homes and other real estate they don’t want made public. They may have antique or valuable collectibles they might want to be appraised and sold in a discreet manner. They want a foreign appraiser working with a domestic one to come to a common valuation of the property rather than fighting over the value. They also need the assistance of a thorough and comprehensive divorce mediator to bring to light property they may not even think has value such as a collection that may have been started as a hobby.
In an adversarial divorce, a judge can order spouses to sell their treasured collection or holiday home idyll, but in divorce mediation effective solutions can be found which often involve trading property to meet the community property obligations rather than splitting a collection down the middle. Full and transparent disclosure of property is encouraged by a comprehensive process that can minimize the tax impacts, keep a collection intact and keep property private.
Foreign Trusts, Retirement Accounts and Investments
International divorce could involve foreign investments and foreign trusts, including family trusts, which may be outside the marital estate. A comprehensive divorce mediator will make an assessment to help couples come to an understanding of what constitutes marital property. Full disclosure of the marital estate provides a foundation for a smarter analysis of the tax impact of international divorce, which may be significant and involve a high level of paperwork.
Divorce mediation encourages confidential disclosure of assets within the framework of divorce negotiations that are directed towards the common benefit. At Divorce Options San Diego, we are high level divorce mediators who work with spouses getting an international divorce who may have complex assets and business interests that they may want to keep private. We find that the confidential and discreet nature of divorce mediation makes it easier for spouses to be transparent about their assets. Many people may not even be aware of how to make a full marital property disclosure, especially if they have international assets or inherited assets. At Divorce Options San Diego, we can help you do this. With your assistance, we can make a full assessment of the community property, which also includes high level appraisal and valuation services, as well as documentation services. We have offices in San Diego, CA, Silicon Valley and Berkeley, CA. Please don’t hesitate to contact us to learn more about our high level international divorce mediation services.
