A divorce has a huge emotional and financial impact, but it can be particularly complex for high-net-worth individuals (HNWI). This makes it essential to seek specialist legal advice and support from reputable and highly skilled high-net-worth divorce lawyers.
As an expert family law firm, KMJ Solicitors specialises in all areas of family law, including high-net-worth divorce. For the best part of a decade, our team has guided high and ultra-high-net-worth individuals through every aspect of their divorce, which means we have the experience needed to efficiently handle any complications or challenges that arise during your case.
We will support you through the entire divorce process, protecting your interests at all times. From preparing and submitting your divorce application and making arrangements for children to dealing with the various complexities of divorce settlements involving high-value and overseas assets, we provide an unrivalled service that makes a high-net-worth divorce as hassle-free as possible.
Our High-Net-Worth Divorce Services
At KMJ Solicitors, our divorce lawyers understand the many complex issues that can arise during high-net-worth divorces. With our years of experience and knowledge, we can support you through every aspect of your divorce, ensuring a positive resolution for you and your loved ones.
Responding to or Issuing Divorce Proceedings
The process of ending a marriage can be complicated by a variety of legal issues, especially if you got married or reside outside of the UK. We can provide the necessary advice and guidance on everything from how to start divorce proceedings and the reasons you need to give in your divorce petition to how you should respond to divorce proceedings initiated by your spouse.
Our goal is to expedite the divorce process to provide a quick and smooth resolution, giving you the opportunity to begin your post-marriage life sooner rather than later. We can help you avoid drawn-out court battles and disputes over your assets.
High-Net-Worth Divorce Settlements
Reaching a fair financial settlement is one of the vital concerns of a high-net-worth individual and their spouse, especially as there are often factors such as inheritance, business interests and offshore assets to take into account. Therefore, it’s essential to establish a clear idea of what can realistically be achieved from your divorce settlement — including cases where prenuptial agreements are in place.
Our team of high-net-worth divorce lawyers can guide you through every aspect of a financial settlement, ensuring that every relevant asset — including trusts, pensions, shares and property — is taken into account. You’ll also benefit from the advice an experienced solicitor can offer you when it comes to making wise financial decisions before a divorce and protecting your assets.
Arrangements for Children
In a high-net-worth divorce, the focus is seldom solely on money or other assets owned by or shared between you and your spouse. Child arrangements play a critical role during divorce proceedings and deciding where children will live and the nature of contact with the non-residential parent can be difficult to determine, often resulting in long, costly and emotionally draining legal disputes. There are also other vital aspects that need to be considered, such as where a child will attend school and the necessary financial provision for school fees and other expenses. In high-net-worth cases, these costs tend to be substantial, having a more significant impact on both parents’ post-divorce finances.
It’s also not uncommon for one parent to relocate or want to take children abroad on trips. Following a divorce, this arrangement will usually require the consent of both parents, which has the potential to cause problems. Our high-net-worth divorce lawyers can help you make arrangements for your children with your former spouse, as well as assist you with protecting their wellbeing and your parental rights. Where possible, we will aim to achieve this with non-confrontational dispute resolution, but our team is also vastly experienced with court proceedings relating to children and divorce.
Non-Confrontational Dispute Resolution
Implementing non-confrontational dispute resolution will not only save you time, money and stress, but it will also help you avoid a hostile relationship with your ex-partner. This approach tends to be the best scenario for everyone, but it’s especially beneficial in cases where children are involved, where the priority is to avoid them being affected by lengthy divorce proceedings and a bitter relationship between parents.
Common Questions about High-Net-Worth Divorce
How Can I Protect My Business Assets during a Divorce?
If you’re the owner of or have a vested interest in a business, it will count as an asset to be considered in your divorce settlement. With that said, it’s unusual for a company to be broken up or sold as part of a financial settlement, as the law tends to favour maintaining a business and the employment of its staff. It’s often the case that the business owner will buy out their spouse (if they have a stake in the company) or that they’ll receive a larger share of money to offset the business assets they’re entitled to.
Because of this, many of the biggest divorce settlements have come about as a result of one spouse protecting their business ventures and allowing their spouse the lion’s share of the financial settlement. As a high-net-worth business owner, your company is vital to your future financial stability and is likely something you want to do your utmost to protect.
Do I Need to Disclose Offshore Assets for a Divorce Settlement?
It’s a legal obligation for both parties to disclose all of their assets during a divorce so that they can be considered in the financial settlement. This includes offshore assets. If you try to hide these assets and they’re not included in the original settlement, your spouse could make a claim for a new financial settlement. Of course, the court is also likely to take a dim view of a party who has attempted to hide his or her assets.
How Do I Prove my Spouse Is Hiding Their Wealth?
If you suspect that your spouse is trying to hide their wealth to avoid it from being included in the divorce settlement, we can advise you on the best course of action. This includes your right to peruse their bank and credit card records and seek disclosure from arrangements such as offshore trusts.
Is My Ex-Partner Entitled to Some of my Inheritance in a Divorce Settlement?
Any money, property or other assets you inherited both before or during your marriage, or that you are due to inherit, could be included as part of the divorce settlement. Your individual circumstances will determine whether or not a specific inheritance will be included in the settlement, so it’s vital to seek the advice of a high-net-worth divorce lawyer as soon as possible.
One of the ways to avoid such issues is to ask your family lawyer to draw up a postnuptial agreement that specifies, in the event you inherit significant assets during your marriage, that said inheritance would be excluded from any financial settlement if your marriage ends in divorce.
Are you in need of a reputable and experienced solicitor to protect your assets or business interests? KMJ Solicitors can help. Contact our team of specialist high-net-worth divorce lawyers today.