High-Net-Worth Divorce in Rhode Island
Negotiating a divorce is often a complex and challenging process—especially if one or both of you are high-net-worth individuals. You see, data shows that the divorce risk is lower for wealthier couples in the US. But ‘lower risk’ doesn’t mean ‘no risk.’
And when these marriages do end in divorce, the process can be much more complicated for many reasons. Things like international assets, properties in multiple jurisdictions, maintaining discretion, and negotiating child custody are just a few examples of the intricacies you may be facing.
Hiring an experienced, professional, and knowledgeable Rhode Island high-net-worth divorce lawyer like Susan T. Perkins means you can expect the best possible outcome while avoiding collateral damage to your reputation and assets.
What Constitutes a High-Net-Worth Divorce in Rhode Island?
When one or both spouses have at least $1 million in net liquid assets, it constitutes a high-net-worth divorce in Rhode Island. It doesn’t particularly matter if the majority of these assets are premarital or marital property—they all count towards the $1 million threshold.
Of course, these details can be extremely relevant when it comes to dividing assets between you and your soon-to-be ex-spouse. But strictly in terms of determining net worth, all assets are to be considered.
In a perfect world, the division of property in a high-net-worth divorce should be handled similarly to a business deal. In reality, working with a tireless, experienced high-net-worth divorce lawyer like Susan T. Perkins is the best way to ensure your rights and assets are protected.
Complicated Factors in High-Net-Worth Divorces
Across the board, high-net-worth divorces tend to be particularly intricate. Here are just a few factors that can further complicate the process:
- You and your spouse manage a business together
- One spouse is the primary breadwinner, while the other’s contributions are less tangible
- You both signed a prenuptial agreement, but it doesn’t cover details like marital assets
If you both manage a business together, there are likely properties, business partnerships, trusts, and other business assets that must be valued before they’re divided. This can be a very lengthy process.
If one spouse is the primary breadwinner, the other will likely be responsible for valuing their marital contributions. This explanation of how past actions contributed to the other’s financial success can have a serious impact on how much alimony they may receive.
Finally, prenuptial agreements certainly aren’t ‘ironclad.’ A judge may deem the circumstances under which the agreement was signed to be coercive, inappropriate, or legally illegitimate. In this scenario, the entire prenuptial agreement may be invalidated in court.
It’s also common for these agreements not to address details like alimony and the division of marital property, making them far less useful during a high-net-worth divorce.
Protecting Your Assets in a Rhode Island High-Net-Worth Divorce
Even celebrities have to deal with expensive divorces and fighting to protect their assets. As mentioned above, a prenuptial agreement can be far less helpful during divorce than you might expect.
The Law Office of Susan T. Perkins, Esq., is extremely familiar and experienced with protecting these assets, even in cases where the divorce is drawn out and heavily contested by the other party.
She can help you through the valuation and division process for even the most complex assets, such as:
- Investments, whether US-based or international
- Intellectual property
- Funds, both premarital and marital
- Real estate in multiple jurisdictions
- Business ownership
- All other assets, even if you work with a financial planner and/or wealth advisor
While divorce must ultimately be a mutually beneficial agreement, Rhode Island high-net-worth divorce lawyer Susan T. Perkins never loses sight of the fact that you should hold onto whatever is rightfully yours.
How to Seal Your Divorce Records in Rhode Island
As a high-net-worth individual, you value your privacy. You aren’t alone in wanting to have your divorce records sealed in Rhode Island. After all, details like the intellectual property you own and your total net worth aren’t things you want exposed to the general public.
The first step is to petition the court. They require you to have a “good cause” in order to get your divorce records sealed. However, being a high-profile individual isn’t considered a valid reason.
You should also know the court can seal your record in several different ways. A “full-sealing order” is exactly what it sounds like—your information and details are completely sealed. A “partial-sealing order” means that your name will be removed, but the record of proceedings stays public.
“Anonymous appearance” is when both your and your ex’s names are completely stricken from the record, but other information stays public.
There’s no set-in-stone legal precedent for whether your case will be sealed. Working with an experienced, skilled Rhode Island high-net-worth divorce lawyer like Susan T. Perkins can help you identify potential options that count as a “good cause.”
What You Need to Know About Choosing a Rhode Island High-Net-Worth Divorce Lawyer
This decision isn’t an easy one—and it can have a major impact on the overall outcome of your divorce. Below, you’ll find several key considerations to make when choosing a Rhode Island high-net-worth divorce lawyer.
What qualities should a top high-net-worth divorce attorney possess?
Qualities that a top high-net-worth divorce attorney should possess include:
- Availability to manage and discuss your case promptly
- Communication skills, including responsiveness and clarity when speaking to you
- Community support, as many top-quality attorneys are well-known in their communities
- Experience handling high-net-worth divorces and their unique intricacies
- Listening and making you feel heard throughout your divorce process
- A proven track record such as good Google reviews and client testimonials
When you contact the Law Office of Susan T. Perkins, the first step is booking your free consultation.
This is a no-strings-attached way for you to share details about your divorce and decide if Susan T. Perkins is the right Rhode Island high-net-worth divorce lawyer for you.
How do I handle custody and child support negotiations in a high-net-worth scenario?
In a high-net-worth scenario, you’ll still have to handle custody and child support negotiations according to Rhode Island child custody laws. In Rhode Island, a judge has to consider quite a few factors while determining custody:
- The child’s age
- The child’s relationship with each parent
- Each parent’s desire and willingness to care for the child
- The quality of living each parent can provide
- Each parent’s willingness to be civil and co-parent with each other
- The child’s custody preference (if they’re deemed mature enough to have a preference)
- And many other similar factors
Child support in Rhode Island is typically decided, in part, based on the custodial and non-custodial parent. Non-custodial refers to the parent who spends less time with the child and will therefore be the one making payments.
The exact amount can only be determined after the courts review joint income, the child’s lifestyle pre-divorce, and other related elements.
All in all, Rhode Island child custody and child support laws are vague at best. This is another reason hiring a Rhode Island high-net-worth divorce lawyer like Susan T. Perkins can be hugely beneficial—you won’t have to spend valuable time and energy puzzling over laws and legal processes. Instead, you’ll have an experienced attorney guiding you every step of the way.
How can I ensure a swift and discreet divorce proceeding with a specialized attorney?
Working with a specialized attorney helps ensure a swift and discreet divorce proceeding because:
- A specialized attorney knows just how crucial discretion is. A divorce attorney who doesn’t specialize in high-net-worth divorces may be less familiar with protecting privacy.
- They’re educated on the legal process for valuing assets. A standard divorce attorney may need to spend more time learning these processes, which can make your divorce take longer.
- A specialized attorney already knows the best path forward. Once they have an understanding of your needs, they’ll custom-tailor a strategy to help ensure a favorable outcome—no guessing.
The best thing you can do to support your attorney is to be honest, forthcoming, and clear in your communication. Your lawyer has your best interests at heart, but you’ll need to clearly communicate those interests early on.
Contact Rhode Island High-Net-Worth Divorce Lawyer Susan T. Perkins Today
With over 25 years of successful experience, Rhode Island high-net-worth divorce attorney Susan T. Perkins is committed to helping you navigate this complex process while always keeping your best interests at heart.
With so much on the line, she’ll stop at nothing to ensure you keep what’s rightfully yours. Contact the Law Office of Susan T. Perkins at 401-PERKINS today to schedule your free consultation.