Although every divorce is financially and emotionally complicated, cases that involve individuals with a high net worth can be particularly challenging due to the amount and type of assets. These cases often require greater expertise to reach a fair settlement. Investing time to select an experienced high-asset divorce attorney is the best way to protect your financial future.
Experience Should be the Primary Consideration
Retain an attorney who has substantial experience successfully managing divorces for high-net-worth individuals and who has an excellent reputation. Every step in the process, from the initial consultation to your divorce negotiations and ultimate resolution will involve decisions that may significantly impact your finances.
Cutting corners or making a hasty decision about your legal representation can create long-term obstacles. A highly experienced family law attorney, with expertise in high-asset divorce, can help you protect your hard-earned assets and ensure a fair resolution.
Choose an Attorney with a Strong Supporting Team
A high-asset divorce is a complicated matter and may require the professional assistance of several different types of specialists. This makes it imperative to ensure the divorce attorney you choose to work with has a robust support team available to help with the nuances of different cases.
A forensic accountant should be one of the top specialists used by an attorney for high-asset divorces, particularly for cases in which a spouse may be hiding assets. Property valuation experts are also important in cases where a spouse owns a business or another type of property with a value that is difficult to determine.
Look for an Attorney with a Transparent Fee Structure
No attorney will be able to tell you how much your divorce will cost from the outset of the case. However, you do want to choose someone who is up front about how their fee structure works.
Keep in mind that specialized family law attorneys who know how to manage high-asset divorce cases often charge fees that are commensurate with the value of their services. This is an investment that may be able to save you significant money in the long run by preserving your assets. However, their fees should be clear and easy to understand.
Select an Attorney With a Reputation for Settling Cases
Hiring an attorney who is skilled at settling cases is very important. When divorce cases end up in court, you can incur a substantial amount of additional costs and fees. You may be able to avoid having your case heard in court if you work with an attorney experienced in negotiation, collaborative divorce or mediation. This type of experience can help you to negotiate an agreement that is satisfactory to both parties while keeping costs down.
Look For an Attorney With Experience in the Courtroom
Even if you expect your divorce to be relatively amicable, it is important to keep in mind that high-asset divorces can become very contentious. A quality attorney will work to prevent your case from ending up in court, but it is always a possibility in a high-asset divorce. The attorney you choose should have demonstrable courtroom experience to ensure they have the right qualities and skills should your case be heard by a judge.
Choose an Attorney Who is Familiar With Your Specific Concerns
Before selecting an attorney, consider the major concerns of your case. Consider the types of problems you expect to encounter, and which assets you are most concerned about protecting. This information should be used to guide your decision.
If you have children and believe that custody could become contentious, hire an attorney with experience in divorces involving custody in your area. If you own a business, be sure the divorce attorney that you choose is experienced in matters such as business valuation.
A Good Rapport
Even the most professional choice may not be the right one for you if you do not have a good rapport with them. You should feel comfortable divulging the personal specifics of your case with the attorney. Divorces are often very emotional, and it may be necessary to discuss certain aspects of the marriage that may be difficult for you.
However, being honest is important to ensure the best resolution for your case. It is strongly recommended to meet in person with prospective attorneys prior to hiring. This will allow you to gauge your ability to be open with them and determine their communication style.
Request a Consultation With the Experienced Maryland Divorce Attorneys
Ensure your assets are protected with an experienced team on your side. To discuss your case with Maryland family law attorneys who are experienced in high-asset divorces and learn more about your rights, schedule a consultation with Milstein Siegel.
