When a couple is approaching marriage, the last thing they probably want to discuss is the topic of prenuptial agreements. The topic is not easy to bring up and may make someone feel that their soon-to-be spouse already anticipates their marriage failing. However, in reality, the topic of prenuptial agreements can help to ease anxieties about unfortunate circumstances that can arise such as death or divorce.

If one of the individuals that is getting married has a high net worth, a prenuptial agreement may be more often considered since there is so much more at stake in this type of marriage. Having a good premarital agreement means understanding and recognizing the rights, assets, debts, and income of a future spouse, especially in the case of high net worth individuals. If an agreement is something that you are considering, and if you or your soon-to-be spouse is considered a high net worth individual, below are some Q&As to help:

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Life after divorce can be scary if you do not know what to expect, and for many, that may be the case. If you are approaching a divorce and feel like you do not know what is ahead for you, one of the best things you can do for yourself and your family is to find an experienced divorce attorney that you can trust and lean on throughout the process. With that task accomplished, you can feel confident for what is ahead. Another way you can feel more prepared is by doing research – especially on the items that worry you the most.

One of the items that you may be unsure of as you approach your divorce is that of employer-based benefits. If you have health insurance through your soon-to-be ex-spouse’s employer, will you and your family remain covered? If you are the policyholder through your employer, will you have to keep your ex on your plan? What happens to life insurance, dental coverage, and 401(k) plans? The topic of employer-based benefits is complicated and there is much to keep in mind. Due to this, we have outlined some of the information you may need below:

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High net worth divorces can be extremely complicated due to the assets, investments, and businesses involved. The added layer of complexity that high net worth cases bring can have many couples panicked and feeling protective of their share and interests.

One of these main interests that couples may worry about is that of their children. Not knowing how your high net worth divorce will play out for you and your children can be frightening, but rest assured, if you have a trusted divorce lawyer by your side, you will be sure to have yourself, and the best interests of your children, covered. If you are still wondering how your net worth can affect child custody, child support, etc., below are some questions and answers to help:

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Divorce can be a daunting topic and situation to approach. When many think of divorce, one important item that usually comes to mind is the topic of alimony. Some may worry that they will have to pay a large amount of alimony each month while some may worry that they will not get their fair share of alimony. Another assumption that many may make regarding alimony is that, when alimony is involved, it needs to be decided by the court; however, that is not the case. Mediation can be used to reach an agreement without the necessity of court intervention. 

Before sharing how mediation can positively impact alimony, let’s discuss the difference between determining alimony in court vs. determining alimony via mediation. If going the court route, the court may award alimony only where it finds such is necessary, as alimony is a secondary remedy as part of equitable distribution of the marital estate. This is a complicated determination that is dependent on 17 factors specifically set forth in the Pennsylvania Divorce Code. Learn more about those factors here. When going the mediation route, you and your spouse can collaborate on a solution with the control in your hands without relying on a judge to make these decisions for you.

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Many divorcing couples have a laundry list of items that they know will be a part of their divorce communications and settlement – their children, house, cars, family business, vacation rental, 401K, etc. However, one item that many people do not think to add to this list is the subject of college for their children.

Tackling any and all subjects alongside your experienced divorce attorney during your divorce and clearly agreeing on them with your soon to be ex-spouse will help you avoid going to court or running into hurdles down the road. Due to this, college is a topic that should be included during the divorce process if children are involved. Below are a few college-related topics that should be discussed during your divorce settlement:

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If you own a business and you are heading into a divorce, you are most likely wondering how you and your business will be affected by the divorce. Outcomes of divorces that include joint business ownership vary based on several components. Considerations and results will be unique to the situation. This is not a one size fits all answer since each couple, just like each business, is unique. 

When you and your spouse have jointly owned a business and you are now considering a divorce, the questions and concerns tend to be two-fold. Not only do we have to consider the family matters of the divorce, we also must consider the business matters. It is common to have many questions, so we have compiled a few of the most common questions below along with answers to provide guidance during this uncertain time. In addition to these Q&As, we highly advise those going through a divorce who are business owners to consult with an experienced divorce lawyer who specializes in businesses and high net worth divorces. If you have questions that are not answered here, please let us know:

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Being a parent is not an easy job. While it is extremely rewarding, it also comes with its own set of challenges. When a couple gets a divorce, child custody can create additional hurdles. For example, creating a custody schedule that both parents are comfortable with and learning to cope when their children are with the other parent may take some getting used to.

Now, when you combine this situation with a global pandemic, the parents and children involved may feel like their world has been turned upside down. If you are currently co-parenting, learning how to deal with the stress and reality of the uncertain environment in addition to custody challenges can be overwhelming to say the least. Regardless of the challenges of co-parenting, it is important for the entire family to manage these circumstances successfully for the sake of all members of the family. These co-parenting tips during COVID-19 may help your family thrive during this challenging time:

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While marriage can be rewarding, it is something that often needs a lot of work and can have its own set of challenges. Similarly, while a family business can be successful, it does not always go smoothly and can take a lot of work from all parties involved. When you combine both a marriage and a family business, it makes sense that there can be times when conflicts arise and working on both your marriage and your family business can be difficult.

It is not unusual for marriages to struggle due to a family business; however, there are ways that you can reduce the risk of divorce if you find yourself in this situation. To help keep your marriage and family business together, we have outlined a few tips below:

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No divorce is easy. Each divorce has its own unique circumstances that could make it feel challenging at times. When you add the addition of a high net worth individual to the mix, the divorce gets even more complex due to all the assets that need to be considered.

If you are in a high net worth marriage and are contemplating divorce, one important piece of advice to keep in mind is: start your divorce off on the right foot by finding the right attorney for your case. You need an attorney that has the right expertise and experience to support you and guide you so you can achieve the outcome most desirable to you. If you are in this situation, here are some tips to help ensure you find the right attorney for your high net worth divorce case:

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If you are married, do you know the legal implications of your marriage?  Do you know your rights and responsibilities in relation to your spouse and relationship?  Many married couples do not, and this is where a marital agreement may come into play.  A marital agreement can be made before a marriage or after a marriage (i.e., prenuptial or postnuptial agreements), and creates open communication about what each spouse expects from the other as well as what will occur in particular situations such as a divorce.  The topic can be uncomfortable to bring up; however, it can help greatly in the event of death or divorce and can ultimately ease anxieties about these unfortunate circumstances.

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