LEGAL SERVICES FOR HIGH NET WORTH INDIVIDUALS

Key Considerations for High-Net-Worth Individuals

1. Asset Identification: As a high-net-worth individual, assets are often held in varying places such as offshore accounts, complex self-managed superannuation funds, or even international property. Attempting to track this information and value it can prove a tricky challenge. There are also certain assets such as art, collectors’ items, or intellectual property which can be difficult to value appropriately, especially when their value is highly subjective.
2. Asset Protection Strategies: During property settlement or divorce, it’s important to establish detailed asset protection strategies for future activities. Trusts, offshore accounts, and protection of business assets can be covered.
3. Business Interests: During a divorce, business interests need to be valued and potentially divided, asking the question, how do you value a business that isn’t being sold, or how do you divide interests within a company without disrupting business operations?
4. Prenuptial and Post-nuptial Agreements: In considering whether there is a prenuptial or postnuptial agreement in place, this may call for determining whether these are to be negotiated or potentially contested.
5. International Property: Handing cross-border financial settlements can be tricky, and often in high-net-worth divorces this occurs. If trying to sell property, it can be difficult to deal with tax consequences, currency fluctuations, and the cost of obtaining foreign legal or valuation advice.
6. Lifestyle Considerations: The court will consider if one party was financially dependent during the relationship. The standard of living during the marriage will be considered, and in determining a fair settlement, they must balance their needs against future earning capacity. It is important to get expert legal advice as soon as possible to ensure your financial position is safe and you can secure a fair outcome.
7. Privacy and Confidentiality Measures: During divorce or property settlement, your privacy is of incredible importance. Non-disclosure agreements, private arbitration, and our experience in managing clients’ privacy are key to our service offering for high-net-worth individuals.

How can Coutts help?

With our extensive experience, the Family Law team at Coutts Lawyers & Conveyancers can help navigate the specific complexities of divorce and property settlements for high-net-worth individuals.

Our expert experience in all areas of family, property, and business law means that we offer the full-service support that these individuals need, and allows us to tailor our suite of services to the specific needs of the individual matter. We assist our clients through every stage of the divorce process, from legal planning to the restructuring of their assets, allowing them to move on with their lives.

Our team of Family Lawyers are equipped to provide you with expert knowledge and advice relating to your divorce and can give you extensive information on your legal rights when filing for divorce. We can also refer our clients to the Wills & Estates Department to assist with the restructuring of their Will post-divorce, accounting for all assets in the asset pool.