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What happens when wealthy couples get divorced

What happens when wealthy couples get divorced

Published at 9:35am 20th December 2017. (Updated at 9:50am 20th December 2017)

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It's a sad truth that, as January approaches, divorce rates are  expected to rise. In the case of a "high net worth divorce", separation of assets can be even more complicated than you might expect. 

No matter who you are, going through a divorce sensibly, timely and amicably can be a challenge, especially without the right family lawyer. With the added complications of valuable assets, such as land, property and cash, reaching a fair financial settlement can be challenging. 

Wealthy couple going through high net worth divorce with No 1 SolicitorsImagine a couple in which one person is the financially astute breadwinner, while the other stays and looks after the home. If the marriage ends with divorce, the breadwinner will need advice on safeguarding their assets. However, the other party would need protection from having assets sold out from underneath them, or hidden away internationally.

Assets such as international property also adds a tricky angle to a divorce. The potential need to freeze assets, place restrictions and charges on high-value property, can be complex as the law in the country where the property is owned must be considered. 

December isn't usually a time for couple to separate, but no matter what time of year it's really important to find yourself the right time if you're going through a divorce. This importance is then amplified with an increased amount of valuable assets. 

No. 1 Solicitors  are Family Lawyers in Harrogate and they can help make sure that whichever side of divorce you're on, you're in the best position possible.  

Hear more about "high net worth" divorce from when Ehsan Kabir from No 1 Solicitors chatted to Beth Parsons on Stray FM's Family Show:

More family stories from Harrogate, Craven and Wharfedale.