Divorce andCivil Partnership Dissolution Solicitors
Going through a divorce is often an emotional time, and when you’re feeling mentally drained, it can be hard to focus on divorce practicalities, especially finances.
For high-net-worth couples, navigating the financial aspects of a divorce can be particularly complex and with the possibility of many setbacks. To ensure that you experience as smooth a divorce proceeding as possible, working with expert solicitors is the best way forward.
Our specialists have much experience supporting clients through high net worth divorce. We can help divorcing couples to reach financial settlements, covering a diverse range of areas from significant savings and multiple properties to businesses, inherited wealth, offshore assets and pensions.
We can also help high net worth divorcing couples to make the necessary arrangements for their children if appropriate.
To discuss a high net worth divorce settlement, please contact your local WSP Solicitors office in Gloucester or Stroud.
If you have a quick question or would like to request a call back, you can also use our simple online enquiry form.
When going through a high net worth divorce, working towards a financial settlement can be incredibly complicated. High net worth divorces usually involve a range of significant assets and wealth located in various places, from trusts to international assets, and all of which can be challenging to divide.
Our divorce solicitors at WSP have a significant experience supporting high net worth individuals to divide complex finances, including:
When going through a divorce, one of the most important things to consider is where any children will live, and how child contact will work between the child and both of their parents.
High net worth divorces may give rise to a number of issues regarding child residency, contact, and financial provisions for children, including school fees and general living costs. Disagreements may also occur where one parent wishes to relocate with the children.
At WSP, we have plenty of experience assisting high net worth couples to make arrangements for their children during a divorce. We can assist with alternative dispute resolution methods, or help clients through Court proceedings if necessary.
Where a couple are getting divorced, both spouses are required by law to disclose all of their assets so that it is possible to reach a fair financial settlement. Unfortunately, it is not uncommon for spouses to attempt to hide assets when going through a high net worth divorce, particularly where there are complex investments such as trusts, inherited wealth, companies, or pensions.
If you suspect that your spouse is concealing assets, our solicitors can assist you to investigate, in order to protect your interests, and ensure that you receive the financial settlement that you are entitled to.
Where necessary, we can assist clients to obtain freezing orders, to prevent their spouses from disposing of assets prior to a divorce settlement.
For more information about high net worth divorce, please get in touch with our experts at WSP.
A divorce is high net worth whereby the assets owned by one spouse or both combine to exceed the needs of the couple. High net worth marriages are those which have significant financial wealth which may include business assets, personal assets, inherited wealth, substantial income and or savings, properties, pensions, complicated trusts, and so on.
Yes, when you are getting divorced in the UK it is a legal requirement to declare all assets. Attempting to hide assets or leave assets undisclosed is considered an offence, and doing so can mean facing legal trouble, and or having to pay a larger portion of your assets to your spouse than you may have otherwise been obligated to do.
If you are concerned about protecting your assets in a high net worth divorce, our experts at WSP can support you.
No one situation is the same and who gets the business in a divorce depends on various factors. It is worth noting that even if the business is solely owned by one spouse, and it was acquired before they got married, the business is still likely to be considered a marital asset, and consequently, divided between both parties.
Depending on whether the business is owned by one spouse, or both spouses, there are several options which may be used to divide the business:
Selling the business and splitting the proceeds between both spouses is an option, however, this is a rare occurrence and is more of a last resort where issues have continued to arise and the Court has ruled that there is no other choice.
If you are working towards a high net worth divorce settlement, and either you or your partner own a business, it is advisable to get in touch with a specialist lawyer.
The penalty incurred for hiding assets when going through the divorce process will vary according to the case.
One penalty might be that the person who has hidden assets is then liable to cover the other party’s legal costs. It might also be that the individual then receives a less desirable financial settlement than they would have received had they not attempted to hide assets.
When approaching a divorce many people may be concerned about losing assets, and protecting their wealth. It’s common to be worried about financial ruin, especially when going through a high net worth divorce.
If you’re worried about your finances when going through a divorce, it is advisable to get in touch with a specialist solicitor who can help you to safeguard your finances and negotiate a financial settlement that is fair in your situation.
If you received an inheritance before getting married, your spouse may be able to make a financial claim on it providing that they benefitted from the inheritance throughout the marriage.
If the inheritance was obtained at some point during the course of the marriage, then the Court will likely consider the inheritance to be ‘joint property’. For example, this is likely to be the case where the inheritance was paid into the spouses joint account.
To discuss a high net worth divorce settlement with our expert team, please contact your local WSP Solicitors office in Gloucester or Stroud.
If you have a quick question or would like to request a call back, you can also use our simple online enquiry form.
I have nothing but praise for all of the people I have dealt with over the years. Nothing has been too much trouble and I would have no hesitation in recommending them.P. Browne
A very thorough and professional company. Always found staff to be very approachable, helpful and very clear in their explanations of all options available to me. Would strongly recommend WSP.D. Maton
WSP is the one-stop superstore for all your legal requirements. It is staffed with friendly, professional and expert people who are a pleasure to deal with. As a long term user of the company I always recommend WSP to all of my friends based on my own happy experience.D. Wilkins
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