Expertise for Complex Financial Settlements
Why Choose Us for your High Net Worth Divorce?
Navigating a high net worth divorce requires both legal expertise and financial acumen. Our team specialises in managing complex financial and asset division, ensuring your interests are protected. We work closely with local experts in business valuation, tax planning, and asset management to craft tailored solutions for each unique case.
Key Considerations in High Net Worth Divorce:
Income and Maintenance
Understanding how income factors into divorce settlements is critical.
Key points include:
Spousal Maintenance: Determining the need for maintenance, its amount, and duration.
Self-Employed Spouses: Assessing business income and its impact on the settlement.
Bonuses: Deciding if annual bonuses should be included in the financial division.
Capitalising Maintenance Claims: Exploring the option for a greater share of assets in exchange for waiving future maintenance.
Trust Assets
Trusts can be significant in high net worth divorces. Courts require full disclosure of all Trusts and their details before determining how to handle these assets.
Important factors include:
The purpose and timing of the Trust.
Whether income or assets are accessible to the spouse under Trust terms.
The jurisdictional complexities, particularly with offshore Trusts.
Whether Trustees must participate in court proceedings.
Land & Property
Valuing real estate correctly is vital, especially for large estates or properties with development potential.
Key points for consideration:
Engaging professional surveyors for accurate valuations.
Accounting for Capital Gains Tax and other tax impacts.
Evaluating how property sales might affect the parties or their businesses.
Non-Matrimonial Wealth
In divorce proceedings, non-matrimonial assets—those acquired before or outside the marriage—are typically treated differently.
Important factors include:
How non-matrimonial assets were managed during the marriage.
Whether these assets should be included in the settlement.
Business Interests
Divorces involving business assets demand careful consideration of valuation, liquidity, and operational stability.
Essential points include:
Whether third-party owners need to participate in court proceedings.
Assessing shareholding value, especially in "quasi-partnership" situations.
The tax and liquidity implications when extracting funds from a business.
Determining the fair income available to the spouse who retains the business.
Special Contributions
In ultra-high-net-worth cases (assets over £50 million), courts may consider “special and unmatched contributions” when dividing assets. This requires a robust, well-supported argument for one party’s greater claim on the assets.
Pensions
Pensions often represent a significant part of a high net worth divorce. Proper valuation and expert advice are essential for an equitable settlement.
Key considerations include:
Valuing SIPPs and other pension structures.
Understanding the tax implications of pension division.
Ensuring accurate reports, possibly from an actuary, for defined benefit schemes.
High-Value Personal Belongings
Chattels like cars, art, and luxury items can be valuable assets in a divorce. Getting accurate valuations ensures these items are fairly divided.
Divorcing with significant assets requires a detailed and strategic approach. High net worth divorces involve unique complexities, from intricate financial portfolios to complicated asset division. Whether you have substantial income, a thriving business, or valuable property, expert legal guidance is crucial to ensure fair outcomes.
Contact us today on 0800 542 4245 for a confidential consultation to discuss your case and how we can help you achieve a fair and just settlement.
