Must-Knows for High Net Worth Divorce Clients


Divorce can be a challenging experience for anyone. For high net worth, affluent couples, however, the stakes are not only higher, but the situation is also often more complex due to the types of assets involved. High net worth spouses may own multiple properties, businesses, stocks, and other assets. If you are going through a divorce and have substantial assets, continue reading for some must-know tips that can help you get through it.

What You Need to Know About High Net Worth Divorce

Every couple hopes for their marriage to work out. Unfortunately, this is not always the case and, if you do not have a prenuptial agreement in place, your assets will be divided according to state law. Since Nevada is a community property state, your assets will be divided as evenly as possible.

Here are some tips for couples with significant assets:

  • Do not hide your assets: The temptation to protect your assets by hiding them might be great, but taking this path will likely backfire on you. Spouses who hide assets can face some potentially steep penalties, so instead of focusing your energy on hiding assets, hire an attorney who can help ensure none of your separate property lands on the chopping block.
  • Speak to an accountant: Although you may want to hold onto all of your valuable assets, keep in mind that there are tax consequences and you might not be able to cover it all without your spouse. An accountant can provide some insight regarding how keeping some of these high assets may impact your financial situation.
  • Understand your finances: In many cases, one spouse handles the household finances, so if you do not have much knowledge regarding your assets and budget, now is the time to familiarize yourself with it. Learn more about what you have, including bank accounts, brokerage accounts, annuities, life insurance policies, and more. The better you understand your situation, the easier it will be to detect if your spouse is trying to hide any of your assets.

High net worth divorce cases are typically more complex than others, but with an experienced attorney on your side, you can navigate it with greater ease.

Reach Out to Our High Net Worth Divorce Team to Discuss Your Case!

If you have substantial assets and plan on ending your marriage, the family law team at Ford & Friedman can provide the skilled legal guidance you need to overcome the obstacles you are facing. Backed by decades of experience, you can rely on us to obtain the best results for your case.

Call us today at (702) 904-9898 to schedule a consultation.