A high net worth divorce is one which involves assets that have a high monetary value. While there is no formal definition of a high net worth divorce, it has traditionally been defined as a divorce involving more than one million dollars ($1,000,000.00) in assets.

People who approach those high net worth divorce situations tend to expect an expensive, drawn out process which relies on the court to make the decisions—and understandably so due to all that is involved. What might be surprising to learn, though, is that there are other processes to consider such as mediation which allows a couple to work together on a solution to divorce via a neutral third party that can offer multiple benefits to high net worth individuals. Below are some of those benefits to consider:

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When someone is a business owner, they have often worked very hard to get to where they are today and are putting forth a continuous effort to keep the business running and profitable. Because of this, when a marriage involves a business and approaches a divorce, that couple’s situation becomes very complicated and emotional. Not only are they dividing their marital property, but their business which they are likely very passionate about will be at risk.

It is completely understandable why business owners stress about a divorce because there is so much at stake. When they have the right representation, though, they can eliminate much of the stress and gain confidence that they are making the right moves. In addition, being knowledgeable about the situation at hand can make a significant difference. To help someone in this situation get started, below are some of the considerations that business owners should keep in mind when approaching a divorce:

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The result of divorce is often thought about as a couple splitting ways and separating their lives for good. While many people wish it were this way, there are certain circumstances that do not make this possible. One of the circumstances is when one of the ex-spouses remarries.

Marital settlement or postnuptial agreements, when written thoroughly by an experienced divorce attorney, may often include clauses that address whether the requirements for one or both parties involved in a divorce are altered if a significant change is made in one of their lives. For this reason, a divorce may not separate each ex’s actions from each other after the divorce is final, especially if one of the parties remarries. Here are some of the reasons why:

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When it comes to divorce, most people would prefer a smooth, peaceful process versus one that is unnecessarily drawn out. Even if one’s situation is overly complicated, such as including high net worth individual(s) or those with a long list of assets and business interests, there are still ways to help keep the peace.

For those that would prefer the more peaceful route, we put together the following 5 tips that one can consider to help their divorce process go smoothly:

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When a couple gets married and has children, their relationship is taken to a whole new level. Not only do the spouses have a tie to one another through marriage, but they are also given parental rights and additional responsibilities when they have children.

If divorce is involved, each parent’s custodial rights may be at issue. Most parents feel strongly about having custody of their children in some way, so being prepared for this topic when a couple approaches a divorce is of the utmost importance—especially if one spouse challenges the other spouse’s custodial  rights. Below is what to do if you suspect a divorce is on the way and children are involved:

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There are many items to consider when going through a divorce, and every couple has their own set of unique considerations. Due to the complexity of divorce, many questions are raised throughout the process.

Instead of being overwhelmed throughout the divorce process, one should consult with an experienced divorce attorney that can help to answer their questions and provide recommendations. In addition, educating oneself on the topic and process can help, as well. To get started, below are a few Q&As:

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Not every divorce is the same, and not every divorce fits into the same pattern or process. Because of this, there are options when it comes to the divorce process, and someone approaching this situation should carefully and thoroughly consider their options before taking the next step.

There is the traditional divorce process, which involves relying on the court to make the final decisions, and there are non-traditional processes such as mediation and collaborative law where those getting a divorce have more control. As mentioned above, each divorce is different and because of this, some divorces might benefit from the traditional process while others might benefit from the non-traditional processes. In this article, let’s take a closer look at the non-traditional options.

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The topic of divorce can be scary for anyone, but for a high net worth individual, it can be even more daunting.  All the assets that a high net worth individual has are put on the line and can cause the divorce to be longer, more stressful, and more expensive with the end result being more devastating than a typical divorce.

To help someone in this situation get through the divorce process successfully, we highly encourage them to find the right divorce attorney. Without the right representation and the right experience, their divorce could end up as described above, with hard-earned money and assets taken away from them. To help someone who is wealthy find the right attorney for their high asset divorce, we put together the below characteristics one in this situation should look for in their attorney:

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For many people who begin their journey to get a divorce, the process and all the emotions that are involved can be very overwhelming—and rightfully so. A marriage is a huge commitment and deserves much thought and consideration before deciding to end it. Because of this, and all that a marriage may consist of, the divorce process can be complicated and difficult to figure out alone.

There are some divorces that are simple; these usually do not involve many assets, do not involve children, and they are usually cases where the marriage was short and neither spouse is asking for alimony. In these cases, an experienced divorce attorney may not be needed, and a couple may be able to handle the matter  themselves. However, most divorce cases are more complicated than this scenario. In these more common situations, we highly recommend finding an experienced divorce attorney, and here are 5 reasons why:

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The topic of divorce is complicated, and no two divorces are the same. Because of this, it is hard to lean on friends and family for guidance when navigating through all of the twists and turns of the divorce process. It is important to remember that there are trusted divorce attorneys that someone in this situation can go to for the right advice—plus, one’s future depends on it.

In addition to having the right support, it is also key for someone in this situation to educate themselves on what to expect, and one topic that can feel grey to many is the topic of alimony. Alimony serves as a means to help a party meet their reasonable needs when their income and the assets awarded in equitable distribution are insufficient to meet those reasonable needs. To help someone understand this topic, we’ve outlined the most common questions and answers:

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