Celebrity and high net worth divorces involve a substantial amount of assets, therefore, they are naturally more complicated deal with. Dividing property in a high asset divorce requires a carefully crafted legal strategy. Without a legal plan in place, costly mistakes are more likely to occur. To protect your rights and property in a high-net-worth divorce, call Richardson Law Group high net worth attorneys at 305-570-2271.

Our divorce attorneys understand the need for discretion. We will protect your privacy including information on your net worth, your personal life, your divorce settlement and custody arrangements. We understand how highly confidential these things are and it is our goal to protect your privacy from the public and media.

First, HIRE AN ATTORNEY!

Second, the main source of combat in a high net worth divorce commonly concern the division of property and assets. In Florida, typically all property acquired during the marriage is divided equally (50/50) between the spouses. Although it may seem that this should make a divorce straightforward, the term "equal" does not mean "equitable" when it comes to divorce in Florida. High net worth divorces are almost certainly considered "contested divorces."

Critically important in a high net worth case, is the sources of income used to purchase property during the marriage. Many times there are numerous sources which makes them more challenging to trace. For example, it’s not uncommon for income derived from investments or family businesses to be used to acquire property.

ASSETS TO BE DIVIDED MAY INCLUDE:

Artwork
Intellectual Property
Retirement Benefits and Pensions
Marital Home, Vacation Homes and Other Real Estate
Stocks
Boats, Airplanes, and Other Motor Vehicles
Jewelry and Antiques
International Property
Investment Properties

A business might also be subject to division if it was formed during the marriage. It’s important to be aware that even if a company was created by one of the spouses prior to the marriage, it may be at issue during the divorce proceedings if marital funds were used to contribute to its growth or operations.

Getting a divorce is stressful enough when everything is done right. When significant sums of money or assets are part of the equation, things can get even more stressful.  With that in mind, if you are going through divorce, high net worth or not, here are a few things that you should NOT do during this process:

1. Do NOT make decisions in the heat-of-the-moment.
2. Do NOT make decisions that are based on emotions. 
3. Do NOT attempt to hide assets. The legal consequences are not worth it.
4. Do NOT intentionally under or over value your property. Get a third party valuation...Get more than one if you feel that is necessary to get an accurate value.
5. Do NOT assume you know whether something is considered "Marital Property" or not. Consult an attorney about what is at issue in a divorce. 
6. DO NOT LIE TO YOUR ATTORNEY! Your attorney is looking out for YOUR best interest. If you fail to disclose information, whether or not you think it is significant, it can hurt your case in the long run. It can also lead to termination of the attorney-client relationship.