When the wealthiest of people divorce, there are often specific issues that need dealing with.
As a general rule of thumb, high-net-worth divorces are those where the assets such as money and property are worth £1m or more. Divorce solicitors in North Wales can help navigate the often-complex issues that tend to come with these sorts of divorces.
Like most other divorces, before the money and possessions are taken into account, the welfare of any children is considered a priority, and these legal proceedings are dealt with under Section 25 of the Matrimonial Causes Act 1973. Once these matters have been sorted, issues such as litigation misconduct may need to be examined, covering matters like non-disclosures.
Putting an accurate valuation on the assets in a high-net-worth divorce can be complex and lengthy. These can include a wide portfolio of businesses, property, personal items and cash. It is essential that these evaluations are done at the early stages of the divorce proceedings.
Often, those involved in high-net-worth divorces want to have privacy and confidentiality, and may ask their solicitors in North Wales to examine discreet alternatives to court hearings such as a mediation process.
Other matters legal experts may be asked to deal with include inheritance tax, prenuptial agreements and international assets. Post-divorce planning is also an essential part of the proceedings.
Our team at Bennett Smith Solicitors has the legal expertise to support on a range of issues, so contact us now to book an appointment.
