When a couple divorces, they have to address issues relevant to their situation. Most divorces will address property distribution and spousal support. Some will address child support, child custody, and child visitation. Spouses avoid many of the consequences of litigating their matter by engaging in the Collaborative Divorce Process or Mediation. When a court hears a litigated divorce case, each party must disclose financial information that helps the court equitably distribute marital property and establish spousal support when a situation calls for it. When a couple is considered high net worth individuals, the divorce can become complex. A high net worth individual is someone with investible finances in excess of $1 million. With that in mind, high net worth divorces face complicated property distribution and spousal support issues. Some couples own multiple high profile properties and possessions, businesses, and professional practices. Through Collaborative Divorce or Mediation , a couple can avoid many of the drawbacks of litigation and keep their finances private. If you need the legal services of a Collaborative Divorce attorney or an experienced mediator, contact Leslye M. Schlesinger for a consultation.
High net worth individuals benefit from Collaborative Divorce and Mediation
When a couple goes to court for a contested divorce, they must disclose financial information to the court in order to distribute property equitably and establish a fair and just support structures. If the court finds inconsistencies with the financial information disclosed or finds that a business’s bookkeeping is out of sorts, a judge may issue a forensic accounting of one or both individuals. If the probe finds anything of interest to the Internal Revenue Service, the court is obligated to report the findings. High net worth individuals should strongly consider using alternative dispute resolution to resolve their legal issues. Through Collaboration or Mediation , a divorcing couple can attain the same goals as a court case without the exposure and risk. Through alternative dispute resolution, couples will disclose financial information and assign a value to marital property. The difference is that Collaborative Divorce and Mediation are confidential and protect the clients from the prying eye of the government.
Contact a New City Mediator or Collaborative Divorce Attorney
If you are a high net worth individual facing a divorce, you have a lot to consider about your legal options. If you litigate your divorce, you could endure an emotional court battle that can expose you to the prying eye of forensic accountants and the possible devastating results of a government probe. If a court was to find anything of interest to the IRS, you could face more trouble. Leslye M. Schlesinger has been a legal resource for high-profile individuals across Rockland and Westchester County. Focusing her practice on alternative dispute resolution for divorcing couples and other family matters, Ms. Schlesinger guides couples through their legal matters outside of court. If you are interested in collaboration or Mediation , contact Leslye M. Schlesinger for a consultation.