Rockville, MD family law attorney Stuart Knotts Skok explains why high net worth divorces are more complex than other divorces.
More In This Category
High net worth cases are more complex because they generally involve far more assets that need to be identified and valued, assets that may be more complicated in nature. Stock options for example. Deferred compensation plans. If one or both of the spouses are self-employed and they own a business, you may need a business valuator to value that business for marital property purposes.
Also, in high net worth cases, typically one of the spouses is a highly-compensated employee that might receive income from various sorts of compensation that you need to be aware of and know what to look for. It could be, you know, in addition to base compensation. They could receive various fringe benefits, other benefits paid through the company; stock options, bonuses. So it’s important to know what the kinds of things that come into play in a high net worth case for the lawyer to know so that they can be prepared.