Couples with high net worth must take extra steps during a divorce to ensure that all assets are listed transparently and valued accurately. Because this process is more nuanced than a traditional divorce, it is important to hire a high net worth divorce lawyer in Glastonbury to protect your interests, rights, and assets.
With 37 years of combined experience in Connecticut family law, the team at Rich Rochlin Family Law is committed to helping you navigate this life change, as well as the ramifications of a high net worth. A Glastonbury divorce lawyer can walk you through each step of the legal process and advocate for you. We also work to de-escalate situations so you and your spouse can reach a resolution more quickly.
Why Choose a Glastonbury High Net Worth Divorce Attorney from Rich Rochlin Family Law to Represent You
Navigating a divorce when you and/or your spouse have a high net worth can be difficult. These types of divorces have different impacts on the proceedings and life after divorce. Rich Rochlin Family Law has extensive experience handling high-net-worth divorces and is ready to help ease your stress as you navigate this change in your life. Whether you are filing or responding to divorce, we’re here for you.
Our Glastonbury family lawyers know how hard a divorce can be, and we ensure that you have an ally who can advocate for you. We recognize your unique set of circumstances and are strategic in how we proceed with your case. We address your concerns while protecting your share of assets in your divorce. We help streamline your case and ease your transition from marriage to the next stage of your life.
Our attorneys care about you and your future, and we help you determine your legal options and next steps. We also walk you through the impact of high net worth assets on your rights and future. From start to finish, we stand by you and fight for you.
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The Impact of High Net Worth on Divorces in Glastonbury
For an individual to have a high net worth, they must have at least $1 million in liquid assets. In a marriage, either or both spouses may have a high net worth, depending on each spouse’s career trajectory and financial situation. While this can create significant financial stability for couples, it can have profound ramifications in a couple’s divorce.
It can be difficult to value high net worth assets, and they can be easily hidden. To ensure fairness in a divorce, a formal appraisal must be conducted to catalog and accurately calculate all assets. Forensic accountants may also be employed to ensure transparency. Without an accurate assessment, a spouse may not receive a fair distribution of the couple’s property following a divorce.
Additionally, if a spouse de-prioritized their career, they could feel the impact of a divorce more strongly. High net worth can also impact alimony requests. It also affects how child support is calculated, since family income is likely to be above the standard income level. Couples who have an enforceable prenuptial agreement can streamline divorce proceedings.
Glastonbury High New Worth Divorce Lawyer Near Me (860) 357-9158
What to Expect When Dividing Assets During a High Net Worth Divorce in Glastonbury
When it comes to divorces, Connecticut is an all-property state (Connecticut General Statute § 46b-81). Unlike states that distinguish between marital and separate property, Connecticut allows all assets to be distributed during a divorce. This means that assets acquired before marriage may be subject to division in a divorce. Hiring a Glastonbury high net worth divorce lawyer is essential during this process.
Courts focus on a fair distribution of assets between both spouses. This doesn’t mean that everything will be shared 50/50. Instead, each spouse’s circumstances are evaluated and factored into what is fair, so that neither spouse is taken advantage of during divorce proceedings. With high-value assets in the mix, this can have a varied effect on each spouse, especially if only one spouse has a high net worth.
These types of assets can also have significant tax implications during a divorce. Financial penalties or capital gains taxes may apply if money is withdrawn from investment accounts early or if assets are liquidated during the division. Be sure to talk with your divorce lawyer for high net worth in detail about how division of assets works in a divorce and what tax implications to prepare for and minimize.
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Navigating Disputes and Challenges in a High Net Worth Divorce
While it is not uncommon for couples to disagree about how to divide their property in a divorce, high-net-worth divorces can lead to escalated conflicts. Disagreements can significantly extend your divorce proceedings and make it harder to finalize your divorce settlement. To help you and your spouse find common ground and settle your divorce faster, a Glastonbury mediation lawyer can help.
When negotiations are not enough to settle disagreements, mediation can be a helpful avenue to facilitate productive conversation and compromise. This process involves working with an objective third-party who can help you and your spouse discuss your differences, goals, and other solutions that may be satisfactory. This process is more affordable and less time-consuming than litigation.
If you and your spouse can’t come to an agreement, then litigation is another option for resolving your divorce. This requires court intervention and judicial oversight. In these situations, you relinquish control over the terms of your divorce settlement since a judge considers all the information and your arguments before making decisions about how assets should be distributed.
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Confidently Navigate Your Divorce With the Help of Rich Rochlin Family Law
Rich Rochlin Family Law is committed to helping couples in Glastonbury navigate the nuances of high net worth divorces and ensuring a fair outcome.
Whether your divorce is amicable or highly contentious, a high net worth divorce attorney in Glastonbury can skillfully guide you through the process. Contact our firm today and schedule a consultation to learn more about how to proceed with your divorce.
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