Reaching a financial settlement is, for many separating couples, one of the most difficult aspects of divorce, as money can often be the catalyst for disruptive disputes. That means, when high-value assets need to be taken into consideration, it can be even more challenging to resolve a separation amicably.
However, with the right legal guidance, it is usually possible to finalise the details of high net worth divorces with little disruption. At Braddon & Snow, our family law team have extensive experience in supporting couples where one or both parties have substantial income or assets and are available to provide the tailored support and guidance you need at a difficult stage in your life.
There is no ‘one-size-fits-all’ approach to handling financial settlements, especially when it comes to high net worth divorces. The financial aspects of any separation are influenced by several different factors, which means there is a range of potential outcomes which need to be considered.
Our experienced family law team can advise you in relation to high net worth divorces, ensuring that you are confident about the options available to you and what steps you need to take to move ahead with the next chapter of your life.
The issues you may need to resolve that are related to high net worth divorces may include:
- The division of family assets, including the family home
- Pensions and savings
- The division of businesses
- Ongoing maintenance payments, including spousal maintenance
- International assets
The work required will depend upon the complexity of your case. However, we offer an initial appointment of £75.00 plus VAT where our family lawyer will discuss the general process and give you an indication of the costs that you are likely to incur from the outset.
Our family law specialist is a member of Resolution, a network of family lawyers committed to removing unnecessary conflict from divorce and family law. This reflects our commitment to helping all of our clients find a resolution to their divorce in a constructive, non-confrontational way – removing the need for contentious court proceedings wherever possible.
We have local offices in Hoddesdon and Broxbourne, where we work with clients from across Hertfordshire, as well as a growing number of clients elsewhere in England, Wales and abroad.
Our team are also happy to speak over the phone, via email or through videoconferencing for your safety and convenience.
For a friendly, informal discussion about how our family lawyers can help you with a high net worth divorce, please get in touch:
How we help you with a high net worth divorce
When making a financial settlement for a high net worth divorce, there are plenty of factors that need to be taken into consideration. We understand that dividing high-value assets can be very daunting, which is why we take the time to talk openly with you about what your current situation looks like, what you would like to achieve and how we can reduce conflict as far as possible.
We also understand that specific arrangements need to be made for high net worth divorces, including navigating business interests and spousal maintenance where there is significant financial disparity between you and your former partner. These are issues we can discuss in detail, ensuring that you find an outcome that matches your best interests.
Our team have strong skills in constructive negotiation and, under certain circumstances, we can refer clients for alternative options such as mediation. These methods of alternative dispute resolution are often very effective in finding an amicable financial settlement, even for couples with high value assets.
In some situations, court proceedings may be necessary to ensure you achieve a positive outcome from a high net worth divorce. Where this is the case, we can work alongside you to make the process as straightforward as possible, providing robust representation to ensure your rights are well protected.
Whatever approach is required, our family lawyers will be on hand to provide all the legal and emotional support you need.
Our high net worth divorce pricing
Fixed fee divorce settlements
Some aspects of divorce proceedings can be dealt with on a fixed fee basis, such as completing and filing the divorce petition and applying for a Consent Order. This means that you will have a clear idea of how much you will be required to pay from the outset.
Hourly rates for high net worth divorce advice
For more complex work related to your high net worth divorce, we will typically agree on an hourly rate. We will always make sure to provide a realistic estimate of the costs associated with your case and keep you updated about expenditure, so you always remain in control of the costs of your high net worth divorce settlement.
High net worth divorce FAQs
- What am I entitled to in a high net worth divorce?
- How are businesses treated during high net worth divorce?
- How long does it take to get a financial settlement for a high net worth divorce?
Regardless of what your financial situation (or that of your former partner’s) looks like, the starting point for any financial settlement will be a 50:50 split. However, in practice, this does not usually transpire, as the needs of both parties, and any children, are taken into account.
The final settlement will be determined by various factors, including:
- Financial needs
- Standard of living while married
- Contributions (financial and non-financial) to the marriage
- Loss of benefits due to the divorce
If you or your partner own a business, there may be some confusion over what arrangements are going to be made upon divorce. Many people assume that a business will be evenly split, but this is not necessarily the most practical solution – nor is it always going to be what both parties want.
Often, the value of a business is reflected in a financial settlement, but this will depend on various other factors.
It is not always possible to say exactly how long it will take to reach a settlement for a high net worth divorce. Generally speaking, if your finances are straightforward and both parties are willing to agree to a settlement with minimal fuss, a divorce can be resolved in a matter of months. If court proceedings are required, it will naturally take much longer.
Speak with our divorce solicitors in Hoddesdon & Broxbourne
For a friendly, informal discussion about how our family lawyers can help you with a high net worth divorce, please get in touch.