High Net-Worth Divorce: the Long and Short of It. Part I
Hollywood icons often become even more famous for their lifestyle than for their work. Brad Pitt and Angelina Jolie have dominated headlines lately not for film credits or accolades won – but for news of developments in their long, (long. Think FOIA requests regarding domestic disputes on their jet have been granted and actually released) long divorce. The latest newsbreak is that the divorce, initially filed for in 2016, has been finalized at last, eight years later.
Divorce can be emotionally difficult and financially overwhelming. The thought of pursuing a divorce becomes all the more daunting if you imagine going through that turmoil for something like eight years. Unfortunately, that can become a reality for contentious divorces of high net-worth individuals. Brad Pitt and Angelina Jolie are not alone on the road to lengthy divorces. Halle Berry was also in the headlines earlier this year when she and ex-spouse Olivier Martinez finally finalized their nearly decade-long divorce battle.
Any divorce can be complex, and each case will have its own nuances to work through. High net-worth individuals can safely assume that when there are children and/or significant assets to consider, divide, and protect, it is important to retain an experienced high-net-worth divorce attorney to advise you on how to prepare your case to minimize undue delays, how to avoid common pitfalls in the process itself, and how to move forward to land on your best possible resolution.
But what exactly qualifies as a “high net-worth divorce”? And what are some common mistakes that you can avoid if you are considering such a divorce in your future? Our two-part series will introduce readers to some of the basics surrounding high net-worth divorces, and some do’s and don’ts to keep in mind along the way. Remember, retaining counsel from an experienced high net-worth attorney is particularly important in cases that contain complicating factors such as multiple high-value assets, stocks, bonds, business interests, etc. While the thought of seeking professional legal aid might feel formal, or even intimidating – it could very well save you from enduring years of a messy divorce battle. For formal, nuanced advice specific to your own set of circumstances, contact one of the esteemed high net-worth attorneys at Cardwell, Steigerwald Young.
Until then, here is the first installment of this series, which will detail some valuable information on what will qualify as a high net-worth divorce, and provide some general tips on what not to do in a divorce involving significant assets.
What Qualifies as a High-Net-Worth Divorce in California?
You will not find a definite, legal definition of what qualifies as a high net-worth divorce vs. a regular divorce. However, a high net-worth divorce will generally involve at least one spouse who generates a high level of income and/or significant property that is subject to negotiation and division during the divorce. A high-net-worth divorce typically deals with various issues: millions of dollars, dynamic and diverse assets, complex investments, etc.
High-net-worth divorce can be contentious, and it’s clear to see why. The stakes are high in any divorce, but parties in a high net-worth divorce may have more at stake and, if one party wants to prolong proceedings, they can usually find a way to complicate things. This is another reason why working with qualified counsel can be invaluable. High net-worth divorces can proceed amicably. These cases can be closed in a timely manner. Experienced counsel can help.
Simplify Your High Net-Worth Divorce with Cardwell, Steigerwald Young
Our experienced team of San Francisco high net-worth divorce attorneys can help you to navigate any potential complexities in your own high net-worth divorce. Contact our office today to begin discussing your case with our esteemed team.
Sources:
usnews.com/news/best-states/california/articles/2024-12-30/angelina-jolie-and-brad-pitt-reach-divorce-settlement-after-8-years
rollingstone.com/tv-movies/tv-movie-news/fbi-records-brad-pitt-angelina-jolie-jet-assault-1397969/
