Divorce is never ideal. With personal and real property at stake to financial trusts, and oftentimes the involvement of children,...
A high net worth divorce is much more complicated because there are many more legal entities involved. And of course the outcomes are magnified. People with high income large assets and significant net worth have a lot at stake when considering a divorce.
There could be multiple trusts various investment portfolios, real estate, luxury items, or priceless art. These all stand as potential targets in a divorce proceeding.
Assets not protected by a prenuptial agreement can be subject to division if the court deems a marital property lawyer with significant experience working with high asset divorces is your best safeguard in protecting you from a catastrophic loss.
Toronto and Ottawa Divorce and Family Law Firm
Getting divorced doesn’t automatically revoke a will. You need to update your will to prevent your ex-spouse from receiving the assets and privileges granted to you in your will. Toronto and Ottawa Divorce and Family Law Firm
A collaborative divorce, where professionals such as lawyers, divorce coaches, and therapists help couples divide property and manage their emotional stress. Although there are some critics who believe that these individuals are not experts and that the process is not worth the time and money. Toronto and Ottawa Divorce and Family Law Firm
You should minimize the amount of time that you talk about divorce, to give yourself time to be with your children. If you are not sure how to handle the divorce from a psychological or emotional perspective, talk to a licensed psychologist. This will help you manage the stress on both you and your family. Toronto and Ottawa Divorce and Family Law Firm
Divorce therapy is often done on a one-on-one basis. A person going through a divorce may feel guilt, fear, anxiety, depression and grief. Working with a therapist can provide a goal and rational perspective. It can arm a person with the skills to work through the difficulties of divorce. Toronto and Ottawa Divorce and Family Law Firm
You should still maintain a financial security plan in the event of a divorce. This should include all of your important documents and keep track of all of your debts and assets. It’s also important to make sure that you and the children have health insurance. If you are unclear about how to do this, your Divorce and Family Law Team at The Riley Divorce & Family Law Firm can definitely assist you with this process. Toronto and Ottawa Divorce and Family Law Firm
You What You Need to Prioritize Sometimes, well-intentioned individuals can get it wrong. They may think about what’s best for you. However, it is best to have the least number of people involved in the process, so that you can make the best decisions for yourself.
Toronto and Ottawa Divorce and Family Law Firm
During a divorce, many couples make poor financial decisions. This is because they tend to make these decisions based on their poor or irrational mental state at that time.
For many people, the decisions that they make in divorce proceedings can sometimes be the worst decisions of their lives, with long-term consequences.
Reminding yourself of that eventual “light-at-the-end-of-the tunnel”, in that your divorce will ultimately lead to greater freedom or happiness in the future, and thus help you to avoid or lessen the chances of making poor decisions. Toronto and Ottawa Divorce and Family Law Firm
A good co-parenting plan can help avoid disputes and ensure that the arrangements are in the child’s best interests. It should also address various issues related to the child’s development, such as school, extracurricular activities and other factors that are in the best interests of the children. Toronto and Ottawa Divorce and Family Law Firm
Not all assets are equal. Especially in high net worth divorces, it is much more complicated because there are many more legal entities involved; and of course, the outcomes are magnified. People with high income, large assets and significant net worth have a lot at stake when considering a divorce.
There could be multiple trusts, various investment portfolios, real estate, luxury items, or priceless art. These all stand as potential targets in a divorce proceeding. Toronto and Ottawa Divorce and Family Law Firm
Being dishonest about your assets and/or debts could be detrimental to your financial situation. It’s best to discuss all this with one of our lawyers at The Riley Divorce & Family Law Firm. Assets not protected by a prenuptial agreement can be subject to division if the court deems a marital property lawyer with significant experience working with high asset divorces is your best safeguard in protecting you from a catastrophic loss.
Toronto and Ottawa Divorce and Family Law Firm
Getting divorced can be hard enough without making things increasingly contentious. Using children as leverage, hiding assets, making irrational and emotionally charged decisions, and many others, are all factors that make your divorce a long, and stressful process.
Get help from a licensed therapist to keep your emotions and your mental state grounded, while Paul Riley helps you navigate the complexities of emotional divorce proceedings, in order to make sure that what’s most important to you is well protected.
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