A high net worth divorce in the Orlando, Florida area often requires more preparation than a typical dissolution of marriage case. When substantial assets, trusts, businesses, real estate, investments, or valuable personal property are involved, you may need a coordinated professional team to identify, value, protect, and divide the marital estate properly.
Step 1: Identify whether assets are held in a trust
One of the first questions to ask is whether any assets have been placed in a trust. Certain trusts, such as SLATs, may place assets outside the marital estate depending on how the trust was created, funded, and administered.
If a trust is involved, your divorce attorney may need to list the trust as a party to the divorce and ensure that the trustee is served with the dissolution paperwork. This step can be critical because trust assets may affect property division, support issues, settlement strategy, mediation, and trial preparation.
Step 2: Bring a trust attorney onto your divorce team
In addition to your divorce attorney, you may need a trust attorney to help evaluate how the trust affects your case. A trust attorney can assist with questions such as:
- What type of trust is in place?
- Is the trust revocable or irrevocable?
- Are the trust assets marital, nonmarital, or potentially outside the marital estate?
- Can the trust be modified or revoked?
- How should the trust be handled during mediation or trial?
Depending on your position in the case, you may want to explore whether a current trust can be modified, challenged, or revoked. Your trust attorney and divorce attorney should coordinate closely so they can develop a strategy that supports your goals.
Step 3: Assemble the right financial professionals
High net worth divorces usually require more than legal guidance. You may need your financial adviser, CPA, and a financial expert involved throughout the process. In some cases, you may also need a forensic accountant.
These professionals can help identify the parties’ assets and liabilities, determine whether property or debt is marital or nonmarital, and assist with tracing assets. A forensic accountant may be especially important if there are concerns about dissipation of marital assets, hidden assets, unusual transfers, or incomplete financial disclosures.
Step 4: Value real estate, businesses, and significant personal property
Accurate valuation is essential in a high net worth divorce. You may need appraisers to value real property, including the marital home, vacation homes, rental properties, or investment properties.
If either spouse owns a business, you may need a business valuator to determine the value of that business. Depending on the assets involved, you may also need specialized appraisers for jewelry, vehicles, boats, art, collectibles, or other valuable personal property.
Step 5: Address parenting issues if children are involved
If you and your spouse have children and parenting time or custody-related issues are disputed, additional professionals may be needed. In some cases, a Guardian Ad Litem or custody evaluator may be appropriate to help the court understand what arrangement is in the children’s best interests.
Step 6: Decide whether to pursue collaboration or litigation
Another important decision is whether to handle your dissolution of marriage case collaboratively or through litigation. A collaborative divorce may offer more privacy and a structured team-based process, while litigation may be necessary when there are contested issues, lack of transparency, complex disputes, or urgent court intervention is needed.
The right approach depends on your assets, your spouse’s level of cooperation, the complexity of the financial issues, and your goals for settlement or trial.
If you have more questions regarding a Marital and Family Law matter, you may call Ann Marie Giordano Gilden at Ann Marie Giordano Gilden, P.A. at 407-732-7620 and arrange an initial consultation. You may also visit my website at https://www.annmariegildenlaw.com
This article is for informational purposes only and does not form an attorney client privilege.