Collaborative Family Law for High Net Worth Couples
When a high net worth couple divorces, each party most likely has strong feelings about which assets he or she wants to retain. In most cases, both parties will want to keep some of the same items, which can lead to serious conflict. The question then becomes how can such disputes be resolved?
The traditional method of resolution is litigation. However, there is another method available that works very well in high asset divorce cases because of its flexibility and its emphasis on exchanging full and complete information. That method is known as Collaborative Law. I am Maury White, and my family law practice revolves entirely around using the Collaborative Method and mediation to help couples come to mutually advantageous resolutions to divorce and its related issues.
I believe strongly that Collaborative Law is vastly superior to litigation, and I encourage you to read the opinions of my former clients, who almost without fail have found the Collaborative Process a much more civilized and fulfilling way to end a marriage
What Are the Advantages of Collaborative Divorce for Wealthy Individuals?
The Collaborative Process, by its very nature, is better suited to meet the needs of couples with complex assets, than the litigation model. Here is why:
Access to a team: A unique feature of Collaborative Divorce is its ability to use an entire team – a Collaborative lawyer for each party, a neutral financial professional, a divorce coach and/or a child specialist, if needed. The team approach allows both parties to thoroughly understand the assets involved and the different approaches to property division which may be available.
Interest-based approach: Understanding that each party has different desires and visions for post-divorce life, the Collaborative professionals strive to uncover and discuss the underlying interests you have in each asset. Did one of you grow up in the marital home? Has one of you been the primary bread winner? How does that affect the division of property? The end goal is to make sure asset allocation is in line with these kinds of concerns.
Privacy: Unlike litigation, the proceedings in a Collaborative case stay confidential. That means the media, business rivals and other individuals or entities cannot simply access the public records and obtain sensitive information.
Flexibility: Perhaps market conditions are not conducive to selling a home or a piece of land at the time of your divorce. The Collaborative Process gives you the flexibility to keep the asset until conditions for sale improve, which is usually not an option if a divorce goes to court. Similarly, flexibility means that, for example, one party may choose to trade a larger part of a retirement account for a piece of real property or an automobile or even a business interest.
Taking All Assets Into Account
Asset division in Collaborative Divorce is comprehensive, unrushed and thorough. It allows each party to thoroughly grasp the asset mix and make intelligent choices. With the guidance of business valuation experts and other financial specialists, you can resolve issues related to:
- Stocks, pensions, 401(k) accounts and other retirement plans
- Business property and ongoing business concerns
- Hidden assets
- Real property, such as homes, rental properties and real estate
- High income child support and spousal support concerns
My Collaborative Law practice is client-focused and centered on creating options for clients. By working together without the threat of litigation, it is my hope that you and your former spouse will find a solution that sets you up for continued success in the future.