Divorce is a multifaceted process that involves much more than simply ending a marriage contract. When a couple divorces in North Carolina, they must also divide their marital property under the state’s equitable distribution law. This law upholds that marital property must be divided in the fairest possible way. This is relatively open to interpretation and requires careful examination of various aspects of the divorce at hand. While navigating the equitable distribution law can be difficult in any divorce, it is especially challenging when divorcing spouses own substantial assets and control complex investments.
If you are preparing for a high-net-worth divorce in the Concord, NC area, it’s essential to have legal representation you can trust to navigate your case successfully. The right attorney can assist you in handling all the preliminary aspects of your divorce case, such as filing your divorce petition and compiling the materials you must provide for your financial disclosure statement. Your attorney can assist you with any child support issues or modification of child custody. If you are concerned about the final outcome of your divorce, having trustworthy legal counsel on your side is the best way to ensure a favorable result.
The Law Offices of Aimee E. Cain can provide the comprehensive legal counsel you need to approach your case with greater confidence. Our firm has years of experience representing Concord, NC area clients in difficult family law and divorce cases, including many past high-net-worth divorces for couples in the area. We understand the challenges facing divorcing spouses in these situations and the uncertainty they often face when approaching these complex cases. Our goal is to help every client understand their legal options, make informed decisions, and secure the best possible results from their divorce.
There is no legal requirement to hire an attorney to represent you in a divorce case. However, hiring an experienced attorney will make the entire process much easier and will also increase your chances of securing more favorable terms in your divorce order. When it comes to the administrative side of your case, you can rely on your Concord divorce attorney to handle court filings and other procedural requirements on your behalf. They will also assist you with the financial disclosure process, which is likely to be one of the most challenging aspects of this type of divorce.
When you choose the Law Offices of Aimee E. Cain to represent you in your divorce, you can expect personalized attention to your case through all stages of the dissolution process. Our team takes time to get to know every client, learning their concerns and goals for their divorces. While no attorney can ever guarantee a client a specific result in their case, our firm focuses on the client through all stages of legal counsel. We develop individually tailored legal strategies for all divorce cases our firm accepts and have the resources and experience to address unexpected complications as they arise.
Ultimately, one of the best benefits of hiring a Concord high net worth divorce lawyer to represent you is peace of mind. Your attorney can ensure you avoid common financial mistakes many people make in divorce, which can be especially damaging in divorce cases with high assets. You may have more options for resolving your divorce than you initially expect, and a good attorney will help you understand them and take advantage of those that best suit your needs. Whatever your divorce case entails, the Law Offices of Aimee E. Cain can assist you in navigating your proceedings as efficiently as possible.
Property division is a contentious aspect of most divorce cases in North Carolina. It is natural for divorcing spouses to want to preserve their respective best interests through divorce proceedings, and divorcing spouses are likely to disagree on many aspects of their property division settlement. When it comes to these cases, the stakes are inherently higher, and both spouses are likely to encounter problems in resolving property division.
Many high-net-worth individuals own complex assets. They may have business interests, extensive stock holdings, and cryptocurrency accounts. Many will also have retirement accounts and various other long-term investments, some of which may incur penalties and/or lose value if they are liquidated in divorce before they reach full maturation.
Equitable distribution typically involves assigning separate ownership rights to individual pieces of property and specific assets. For example, one of the divorcing partners may take control of their marital home while the other retains ownership over vehicles purchased during the marriage.
It’s possible to arrange property division under the equitable distribution standard with great flexibility. Judges that handle these determinations must consider various factors to ensure they reach legally enforceable decisions, and it is also feasible for some couples to resolve property division privately.
Many divorcing couples in North Carolina choose to resolve their dissolutions privately. Similar to settlement negotiation in a civil case, alternative dispute resolution allows divorcing spouses to privately negotiate divorce terms instead of enduring the stress and expense of litigation.
While some measure of litigation could be unavoidable in some divorces, taking full advantage of alternative dispute resolution can potentially save tremendous amounts of money on a divorce case. Additionally, the spouses can reach more personally agreeable terms than a family court judge would have enacted if they took their divorce to court.
High-net-worth couples may choose to negotiate “trades” of individual assets to limit the need to liquidate assets and divide the proceeds. Every divorce is different, and a couple could have more opportunities to negotiate than they initially realize. Your Concord divorce attorney can potentially help you avoid losing value on certain assets if you and your spouse are willing to negotiate your divorce.
The two most common forms of alternative dispute resolution are collaborative divorce and mediation. In collaborative divorce, the spouses and their attorneys have a private meeting to negotiate terms for their divorce, and mediation is similar but is supervised by a neutral mediator. Your Concord high-net-worth divorce lawyer will be able to help you determine if it is worth considering another path to resolution for your divorce and help you take full advantage of it if so.
One of the most important aspects of any divorce is financial disclosure. The family court must divide the couple’s marital property according to state law, and this requires that both spouses submit complete and accurate financial records. Your Concord divorce lawyer can help you gather whatever documentation you must provide for your financial disclosure statement and will also help you address any unexpected discrepancies that may arise as you and your spouse resolve property division.
It is crucial that you are honest and accurate in providing your financial disclosure statement. Some divorcing spouses may be tempted to try and hide assets to shield them from division, but this is against North Carolina state law and can lead to contempt of court and criminal penalties. Your attorney will help ensure your disclosure statement is accurate. If any problems arise concerning your spouse’s records, you can rely on your legal team to resolve them efficiently.
There are two forms of property in a divorce: separate property, which is legally owned by one spouse, and marital property, which is everything that counts as the couple’s shared property. Equitable distribution requires each spouse to keep their respective separate property and fairly divide their marital property. Some elements of your overall net worth may qualify as your separate property, while others will be subject to division in divorce.
The term “high-net-worth divorce” applies to any divorce in which the couple owns substantial assets and property. In years past, a total net worth of one million dollars or more would qualify as a high-net-worth divorce, but today some divorces can span tens or even hundreds of millions of dollars.
The final outcome of your case is likely to hinge on the quality of the legal representation you hire. The average person with no formal legal experience would struggle to navigate this type of case without an attorney. If you have concerns about the potential cost of legal fees, remember that you are likely to lose more than you will save on attorneys’ fees if you try to handle your divorce on your own.
Divorce proceedings can take a long time to complete depending on the complexity of the case. It is likely to include various complex financial questions that may not be easy to resolve. Your attorney can provide you with an estimate of the timetable your divorce is likely to follow. Most couples who divorce in North Carolina can resolve their divorces within a few months.
It’s natural to have lots of questions concerning your impending divorce. To discuss your case with a Concord high-net-worth divorce lawyer, contact the Law Offices of Aimee E. Cain today and schedule your free consultation with our team.