Why Collaborative Divorce is Often a Great Option for High-Net Worth Couples in Florida
For high net worth couples, getting a divorce can be especially challenging. Not only is there more at stake financially, but high income couples often own complex assets—from real estate to retirement accounts to business interests. The collaborative law process can be a great option in these cases. Here, our Boca Raton high net worth divorce attorneys explain why the collaborative law process is often effective for high asset/high income couples in Florida.
Background: What is a Collaborative Divorce?
Collaborative divorce in Florida is a fully voluntary process where both parties agree to resolve their disputes outside of court. It is governed by (Florida Statutes § 61.57). The goal is to reduce conflict, save time and money, prioritize the well-being of any children involved, and find a solution that works for both parties. In collaborative law, each party is still represented by a divorce lawyer—but it is a non-adversarial process and the lawyers must withdraw representation if no settlement is reached during the collaborative law process.
Four Reasons Why High Net-Worth Couples Can Benefit from the Collaborative Law Process
For high income and high asset couples in South Florida who are going through a divorce, there can be a number of different advantages associated with the collaborative law process. Here are four key reasons why it can be especially useful for high net worth couples:
- A Cooperative Process (Preserve Relationships): Collaborative divorce is a cooperative process that helps to preserve relationships. By focusing on collaboration rather than confrontation, couples can work together to find mutually beneficial solutions. It is an approach that not only reduces stress but also maintains a more amicable relationship. For parents and grandparents—and many high asset couples are—this is valuable.
- Experts are Often Required—and You Can Share the Costs: For high net worth couples, divorce often requires the expertise of various professionals, such as financial advisors, mental health specialists, and child custody experts. These experts provide valuable insights that help in making informed decisions. A key advantage of collaborative divorce is that the experts work for both parties—the costs are shared.
- Keep Your Privacy (A Confidential Process): Another major benefit is that the collaborative law process ensures privacy and confidentiality. Unlike traditional divorce proceedings that are part of the public record, collaborative divorces are conducted privately. Confidentiality is crucial for high net-worth individuals who wish to keep their financial and personal matters out of the public eye.
- Reduce the Risk of Litigation: The collaborative law process helps in reducing the risk of litigation. By committing to resolving disputes outside the courtroom, couples can avoid the uncertainty, expense, and adversarial nature of a trial. Avoiding litigation can often save a lot of time and money.
Contact Our High-Net Worth Divorce Lawyers in South Florida Today
At Williams & Varsegi, LLC, our Florida high net worth divorce attorneys have the professional expertise that you can trust. If you have any specific questions or concerns about high net worth divorce, please do not hesitate to contact us today. With a law office in Boca Raton, we provide collaborative divorce services to high-income and high-asset couples throughout Southeast Florida.
Source:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0000-0099/0061/Sections/0061.57.html
