You were not likely considering the possibility of divorce when you were building your high-profile career and brand. Now that you’re considering dissolving your marriage, however, there is a lot at stake. Not only do you have your assets to think about, but also your public image and privacy.
The best thing to do is to contact a lawyer right away, long before making any financial moves. After you’ve begun thinking about divorce, everything you do from there can affect the efficiency of the process and the protection of your rights.
Common Divorce Issues
In every divorce, couples must address matters such as property division, alimony and spousal support, child support, custody, and so on.
Identifying which assets and debts will be considered marital property – meaning those that you will divide with your spouse – and which are yours only will depend on the state you live in and whether you filed a prenuptial agreement. As far as alimony and child support are concerned, the court will calculate your income and your spouse’s income to determine who pays whom and how much.
Unique Issues for High-Profile Figures
On top of dividing assets and addressing support and custody matters, you likely have other concerns if you are a person in the public eye – especially if you have substantial assets. Some of these concerns may include:
- Privacy during divorce
- Hidden assets
- Your business, securities assets, retirement, etc.
- Real estate
You have some options if you are concerned with the public getting hold of the details of your divorce. Your attorney can explain the approaches that you might take to keep things quiet.
When it comes time to look at your property and debts and divide them appropriately, your lawyer might enlist the help of an independent investigator to identify any assets that your spouse may have hidden.
If you have a company, you have a right to be concerned about what will happen to it when you divide your property. Business valuations will help determine the full value of your company and the value of your interest and your spouse’s interest in the business, all of which will speak to the appropriate way of dividing it.
You can address these and other matters during your initial consultation with a family law attorney attorney. The sooner you speak with a high-asset divorce lawyer, the better off you’ll be in protecting your privacy and your interests.
Experienced Legal Help
When you’re a public figure, whom you hire as an attorney will make a difference in your divorce and your privacy during that time. It’s important to choose someone who has successfully represented others with substantial assets and privacy concerns. If you are considering divorce, we welcome you to call us for advice.