Local members of the family justice body Resolution have welcomed new research which shows most people back a change in the law to give cohabiting people more rights. Currently, cohabiting couples have few or no rights in the event of a relationship breakdown meaning that unlike married couples there is no mechanism for splitting assets.
High Net Worth Individuals
The family team at Machins Solicitors LLP have experience in assisting high net worth individuals with their divorce and subsequent financial settlements.
Talk to one of our friendly and experienced team on 01442 872311
High net worth assets often means interpreting a vast array of assets including trusts, businesses and overseas assets and our solicitors have the expertise to deal with these complexities.
We can guide you through obtaining and interpreting all relevant documentation and how various different arrangements can impact your financial settlement. We can look at privately owned businesses and how these are structured and if necessary guide you on the instruction of an expert to value the business. Managing the changes that can be necessary to the business post-divorce is also within our expertise.
Those with high net worth and complex assets may encounter issues with non-disclosure in an attempt to conceal the true financial position.
Our solicitors have detailed knowledge of the remedial applications available including search orders to find hidden assets, freezing orders to protect the assets and committal applications for non-disclosure.
The distribution of wealth and the needs of the parties must be considered in light of the assets and this requires particular expertise in cases involving high net worth. Where the parties have enjoyed a very high standard of living and the financial resources are substantial, the court will usually consider needs more generously than in an average net worth case.