In the realm of high-stakes divorces, where significant assets and reputations are on the line, maintaining privacy becomes a major concern. The dissolution of a marriage is an intensely personal affair, and when substantial wealth is involved, it can attract unwanted public attention and even media scrutiny.

This article will provide tips for protecting your privacy during a high net worth divorce, ensuring that you navigate this challenging process with dignity and discretion. These tips, along with the help of a trusted divorce attorney, can help you manage a stressful time with privacy and ease.

Summary:

1. Understand the Legal Implications of Divorce
2. Know What Information is Public
3. Utilize a Trust to Keep Assets Separate
4. Know Your Rights
5. Hire a Financial Advisor
6. Find an Experienced Divorce Attorney

1. Understand the Legal Implications of Divorce

Understanding the legal implications of a high net worth divorce is key to managing the process while preserving your privacy. High-profile divorces often involve complex property division like shared business interests, real estate, investments, and other substantial assets. These complexities can draw out the proceedings, increasing the chance for details to leak into public view.

Knowledge of laws surrounding confidentiality and non-disclosure agreements can be critical in keeping these details private. It’s advisable to consult with a seasoned divorce attorney who specializes in high net worth divorce cases to guide you through the legal maze while protecting your privacy rights.

2. Know What Information is Public

In most jurisdictions, including the state of Wisconsin, divorce proceedings are part of public record, meaning that anyone can access the details of your case, including asset division and custody arrangements.

However, some documents or pieces of information can be sealed by the court, making them inaccessible to the public. This typically includes sensitive information such as financial records, proprietary business information, or anything that might harm a party’s reputation if made public.

It’s important to work with your divorce attorney to identify which parts of your case can be kept private and to request that the court seal these records. Keep in mind that anything you post on social media or discuss publicly outside of court could also become part of the public record. Therefore, it’s advised to be mindful of your digital footprint during this time.

3. Utilize a Trust to Keep Assets Separate

Utilizing a trust or keeping assets separate can be an effective strategy for maintaining privacy in a high net worth divorce. Trusts, especially those established before marriage, are generally considered separate property and not subject to division during divorce proceedings. This can help protect assets like a small business or inheritance.

However, it’s important to note that not all trusts provide this protection. For instance, revocable trusts may not exclude your assets in a divorce since they can be altered or canceled by the trustor.

In addition to trusts, keeping gifts or inheritances separate from marital assets can also offer protection. To maximize privacy and asset protection, consider using a combination of trusts and prenuptial or postnuptial agreements.

4. Know Your Rights

Every individual going through a divorce has certain legal rights that protect their privacy and personal information. These rights can vary depending on the jurisdiction, but generally, you have the right to keep sensitive personal and financial information confidential.

You also have the right to request that certain documents or information be sealed or redacted from the public record. Additionally, you have a right to private consultations with your attorney, where any information shared is protected by attorney-client privilege.

It’s important to be fully aware of these rights and to assert them when necessary. A knowledgeable attorney can provide guidance on how best to protect your privacy rights during the divorce process.

5. Hire a Financial Advisor

Hiring a financial advisor during divorce can be a crucial step in maintaining privacy and managing assets. A skilled financial advisor can provide guidance on asset division, tax implications, and future financial planning.

It is important to choose an advisor who understands the complexities of high net worth divorces and has experience in dealing with such cases. They can also help ensure that all financial disclosures are accurate and complete, which can prevent disputes and maintain privacy.

6. Find an Experienced Divorce Attorney

Finding an experienced divorce attorney is a crucial step in maintaining privacy during a high net worth divorce. An attorney well-versed in handling complex and high-value asset divisions can provide valuable advice on protecting your privacy and financial interests. They can guide you through legal processes, negotiate on your behalf, and help minimize the amount of personal information that becomes part of the public record.

If you’re looking for a Milwaukee divorce attorney, the team at Ohiku Law is here to help you. Ohiku Law has years of experience helping clients in the Milwaukee metro area, including Brookfield, Mequon and the North Shore navigate their high net worth divorces. Call Ohiku Law today so we can help protect what matters to you.

By Attorney Odalo Ohiku, Owner of Ohiku Law Office

Attorney Odalo Ohiku is a dedicated and experienced lawyer who focuses on divorce law, family law, and custody and placement for high-net-worth individuals in the Greater Milwaukee area. A trained mediator and arbitrator, Attorney Ohiku has the skill set, experience, and perspective to help clients safeguard their interests while minimizing the stress, anxiety, and conflict that can come with divorce. Attorney Ohiku’s credentials are exemplary: he has been honored as a “Top 40 under 40” by both The American Society of Legal Advocates and The National Trial Lawyers, served as Chair of the Wisconsin State Bar Board of Governors, and earned the President Award from the Wisconsin State Bar. He is passionate about his work in safeguarding families, ensuring that they can maintain the lives they have worked hard to build.