High Net Worth Divorce
Our award-winning family law team are experienced in dealing with complex High Net Worth divorce and the additional challenges such cases tend to involve. Our personal and tailored approach, combined with our expertise and experience, will give you confidence that we will achieve the best result possible for your case, whilst ensuring that you feel supported throughout the process.
A compassionate approach to High Net Worth Divorce
We will guide you through your divorce with compassion as well as expertise, to achieve a fair and well rounded result. At the same time we will do all we can to support you and your wellbeing during this emotionally charged time. We can also provide you with support and guidance if you and your partner have children who need to be taken into account.
Complexities of High Net Worth Divorce
High Net Worth divorces are complex, not only because of the value and nature of the assets involved such as high value property portfolios, businesses and investments such as cryptocurrency, but also because they are often international, so therefore cover different jurisdictions with different tax and legal frameworks. We work closely with accountants and other advisors to form a team so that all bases are covered.
Financial forensics in High Net Worth Divorce
It is not uncommon with divorces concerning high net worth individuals to require the input of forensic accountancy. Financial settlements sometimes become contentious in high net worth divorces with spouses attempting to conceal assets or perhaps not declaring their true value. Assets may be held in trusts or in offshore accounts making them more complex to access initially. Forensic accountancy can bring clarity in such cases to achieve a fair settlement. We work closely with trusted, highly regarded and experienced forensic accountants to ensure that no stone is left unturned and that all the marital assets are located and valued correctly to get the right result.
Business Interests in High Net Worth Divorce
When a business interest forms a significant part of a couple’s assets, expert valuation and negotiation will be necessary to establish the true value of the business and to ensure business continuity and the protection of generational wealth. Every business is unique and our experienced team will meticulously work through the different aspects involved in your particular situation to make sure that nothing is overlooked. We have excellent relationships with local RICS valuers and surveyors with whom we have worked for many years.
Pensions and High Net Worth Divorce
In high net worth divorces, pensions often represent a significant and complex asset. Courts generally consider three main approaches for dividing pensions: offsetting, pension sharing, and pension attachment (earmarking). Offsetting involves balancing the pension value against other assets, while pension sharing divides the pension itself into separate pension pots for each spouse. Pension attachment redirects pension benefits to the other spouse upon payment. We have long term connections with a number of actuaries who we instruct to provide a bespoke report advising how pensions should be best split.
Inherited Wealth in High New Worth Divorce
This can be a thorny issue and an emotive one. Whether inherited wealth is treated as a marital asset and therefore included in a High Net Worth divorce depends on how it was treated during the marriage. We can analyse this carefully and provide you with sound advice which can reassure both yourself and your family.
Luxury assets in High Net Worth Divorce
High value assets such as art, antiques, yachts, jewellery and cars will all need specialist valuation to ensure a fair split between the couple. Penderlaw Solicitors has long established relationships with respected local experts in these areas.
Tax implications in High Net Worth Divorce
High net worth divorces involve complex tax implications due to the significant assets typically involved. Transfers of assets, including property, investments, and businesses, can trigger Capital Gains Tax, while pensions and other complex assets require careful planning to minimize tax liabilities. Early and proactive tax planning, often involving specialists, is crucial to protect wealth and ensure a stable financial future after the divorce. Penderlaw Solicitors has worked for many years with local tax specialists to minimise the impact that tax will have on your divorce settlement.
Get in touch
If you would like to speak to our friendly and experienced team about a high net worth divorce, you can reach us on 01872 241408 or email info@penderlaw.co.uk
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