Ranking third among states with the highest divorce rates, Florida’s family courts process roughly 50,000 divorce filings each year. More than 15 percent of the state’s population is either divorced or separated. In South Florida, high asset divorces involving individuals who have a very high net worth are commonplace. Individuals who are famous or who have a high net work are typically considered high-stakes clients when they are involved in a divorce case. Sometimes the term may also be used to describe very contentious divorce cases in which sensitive issues like child custody must be decided. Because a large amount of assets and sometimes very important family decisions are in negotiation, choosing a Coral Springs divorce attorney who is skilled in handling high-assset divorces is of paramount importance for both parties.
For parties involved in a high-stakes divorce in Coral Springs, privacy and discretion are likely to be especially important. Prominent business owners may be concerned about the public release of certain financial information. Even spouses who are not as well-known, but are divorcing high net work of otherwise famous individuals may wish to part ways from their spouse with as little publicity as possible. In a high-asset case, there is a far greater possibility of previously private financial and personal information becoming fodder for public conversation. However, hiring an experienced divorce attorney who prioritizes discretion may help individuals preserve more of the private details of their lives.
Like divorces among average, everyday people in Coral Springs, issues in a high-asset divorce may be settled pre-suit. In fact, most competent divorce attorney will discuss pre-suit settlement in virtually high-stakes case. In addition to potentially saving time and expense by avoiding a lengthy battle in court, pre-suit settlement also offers the advantage of privacy as negotiation outside of court do not automatically become public record. While pre-suit settlement offers considerable advantages, there are some instances in which cases require immediate action and cannot be negotiated prior to filing in court. Cases that involve urgent child-related issues typically require a court appearance and cannot be settled pre-trial. In some situations, a spouse may require court-ordered injunctive relief to prevent the other party from hiding assets or divesting marital funds. Therefore, divorce attorney must carefully consider the nature of the divorce to determine the plausibility of negotiating and settling prior to proceeding to court.
Both parties in a high-stakes divorce should select an experienced divorce attorney who is compassionate and understands the very sensitive nature of high-asset divorce cases. The lawyer should identify the client’s goals in the divorce and create a strategic plan in the interest of achieving the best outcome for the client. Since these types of divorces usually involve large sums of money, parties should select a high-asset divorce lawyer who is well-versed in financial and tax issues. It is also important to choose lawyers who are tenacious and have years of courtroom experience. Parties who wish to minimize time in court should consider private mediation and seek out a trained divorce mediation specialist. Attorneys who understand and favor the mediation process are more likely to be helpful in finding a mediator and in encouraging the client to be open and communicative in attempting to resolve the issues in mediation. Divorcing parties often prefer mediation as the mediator works to help both sides overcome obstacles to reaching a mutual settlement and communication during mediation proceedings is remains confidential.
High net worth individuals as well as those who have a well-known reputation in their community must exercise an additional level of care in the event of a divorce. In addition to choosing a knowledgeable Coral Springs family lawyer who understands the complex publicity and financial issues individuals in high-asset divorces may encounter, it is also very important to choose an attorney who will work hard to maintain as much privacy as possible when handling the case.