Divorce is difficult in any circumstance. You have the stress and emotional turmoil of starting a new chapter in your life, but high-net-worth divorces also entail the very real battleground of complex financial assets.
It’s vital that you receive your fair share to make it easier for you to build your future life moving forward; and unequal divorces remain an enormous problem today. For example, just 71% of divorces don’t consider pensions, which can often be the most valuable asset.
When significant assets are involved, there are often business interests, pensions, investments, property portfolios and overseas assets to consider. At VM Family Law, we provide specialist advice for individuals dealing with these complex financial entanglements to help you understand your position and how to achieve the fair settlement you deserve.
Specialist legal support for high-value and complex divorces
The standard approach doesn’t work with high-net-worth divorce cases because the financial picture is far less clear. You may be dealing with companies, pensions and high value assets, some of which may be overseas.
All assets must be identified, disclosed and properly valued before committing to any divorce agreement. Our team can advise you on these aspects and support you in utilising the full weight of the legal system to achieve the best possible outcome.
VM Family Law is a highly specialised family law firm with decades of experience across our team, capable of working across finance, pensions and tax disciplines relevant to the unique needs of high-net-worth couples.
The Legal 500 say ''Amanda Rimmer focuses on high-value divorces, often involving cross-jurisdictional business assets, and intricate pension arrangements''.
What is a high net worth divorce?
No strict definition exists for what constitutes a high net worth divorce. However, most estimates range from £3 million to £10 million in combined assets, with divorces involving more than £25 million being “ultra-high-net-worth divorces”.
Typically, high-net-worth couples are five times less likely to divorce, but when they do, it usually involves complex financial arrangements that require specialised financial and legal analysis.
Examples of complex situations can include:
· Overseas assets.
· Substantial pension pots.
· Multiple properties.
· Both spouses own businesses.
· Multiple income streams.
· Matrimonial vs. non-matrimonial assets.
Only reaching a legally binding, court-approved financial order can end financial claims between spouses. Our legal experts support you in formalising these agreements, protecting your future and preventing future claims.
Types of assets dealt with in high-net-worth divorce cases
Every divorce is different. When it comes to high-net-worth financial settlements, assets tend to come into play that you wouldn’t find in ordinary divorce settlements.
Remember, 63% of divorcing couples have under £500,000 in financial assets. The median wealth of divorcing couples is even lower, at just £135,000. In a high net worth divorce scenario, you are looking at assets like:
· Business interests.
· Residential property portfolios.
· Commercial property.
· Pensions.
· Savings and investment portfolios.
· Trust assets.
· Overseas property and business interests.
· Valuable personal possessions.
· Passive income streams.
Not only do these assets need to be expertly valued, but there are often significant tax implications when transferring assets through divorce that must be factored in.
Our legal approach to high-net-worth divorces
High-net-worth divorces are not about reaching a settlement as soon as possible, but arriving at an agreement that serves your interests.
At the start of your case, we take the time to understand your circumstances, the financial issues at play and what matters most to you.
With so much at stake financially, high-net-worth divorce cases often require solicitor-led negotiation and mediation. Additionally, there are often disclosure concerns, unfair pressure and hidden assets.
It’s these issues where an experienced family law expert becomes crucial in establishing and defending your legal rights. We know that cases are not just always about the numbers, which is why we focus on what matters most to you, whether that’s:
· Protecting your business.
· Staying in the family home.
· Securing sufficient income for the future.
· Preserving generational wealth for your children.
At all times, we seek to resolve disputes constructively whilst using the legal system to help you work towards a fair financial arrangement that locks in your settlement and prevents future claims.
Why choose VM Family Law when divorcing with significant assets
Choosing the right solicitor is essential in any divorce. You may have heard of DIY divorces, but these usually only work for couples with few to no assets and no issues like childcare to tackle.
The reality is that substantial or complex financial arrangements need professionals who can identify and fairly value assets, whilst protecting you against any future financial claims. Also, until the court has approved a formal order, you do not have a legally binding settlement, which creates all sorts of issues in the years ahead as divorce alone does not stop future financial claims.
At VM Family Law, we have been recognised by the prestigious Legal 500 for our family law work in the North West. Our team contains experts on high-value divorces, providing guidance and support tailored to you, focusing on protecting your interests and prioritising the best possible outcome.
If you’re considering divorce in the near future, or you are already in the process of separating from your spouse, it’s time to act. To learn more, contact us now.