Glen Burnie-based law firm Zide Siegel Tabor & Spigel is advising high-net-worth Maryland couples on the best path forward for them if they ever have differences that threaten to break apart their family unit. The law firm, which also has an office in Cambridge, Maryland, has been lauded by the community for its services. It currently has a review score of 4.6 out of 5.0 on its Google My Business page.
Based on the correlation between a couple’s household income and divorce rates in the United States, the latter falls steadily as the former increases to around $200,000 per year. However, the divorce rates for couples making more than $200,000 per year steadily hover around 30%. Divorces that involve more than $1,000,000 in net liquid assets, not including the value of their properties and their joint businesses, are defined as high-net worth divorces and are becoming increasingly common in recent years. Divorce lawyers who are experienced in high-net worth divorces often advise their prosperous clients to settle out of court by using a skilled private mediator before seeking litigation.
Maryland divorce attorney Marla Zide, a partner at the Maryland law firm, talks about the challenges that high-income couples face when separating from each other by saying, “Though the love may have faded, the time spent together changes the couple’s lives irrevocably, especially when it comes to the tangible and liquid assets that they have accrued over the years. Due to the sheer amount of wealth involved and the roles that both people in the relationship have played in contributing to it, the fight over the entangled assets can get nasty. We’re constantly reminded of this in the media as celebrity and power couples frequently have their private matters discussed and deliberated in public for low-brow content. However, bitterness towards a partner is not only reserved for celebrities and the super-rich. Love is a universal emotion, and consequently, so is the fallout when a relationship fails. So, once the decision is made to separate, the long drawn out process to arrive at a compromise can be emotionally taxing on both partners, especially due to the number of assets and large amounts of money involved.”
The Maryland law firm offers advice for high-net-worth couples who are planning on separating soon. Before entering the negotiations with a mediator, it is important to identify all the assets that one owns and to categorize them based on whether they are marital assets, separate assets, or combined assets. This allows mediators to propose a fairly equitable distribution. Couples should also plan on finding an amicable solution for other concerns such as the custody of the children, child support, and alimony.
Once the decision has been made to take the case to court, it is necessary to only hire lawyers who have years of experience in family law. High-net-worth clients are especially vulnerable to being taken for a ride by law firms who see a bickering high-net-worth couple as a way to get a fat paycheck. Browsing through online reviews and relying on one’s network for recommendations is the minimum due diligence that one should do before hiring a divorce attorney. Finally, once an attorney is picked, the client should be completely forthright about the scope of their assets and not hide any of them from their lawyers as such behavior can make a client lose their credibility in front of a judge.
Marla Zide talks about why Zide Siegel Tabor & Spigel is the best divorce law firm for high-net-worth couples in Maryland by saying, "Apart from the immediate and obvious concerns such as asset distribution, shared or sole custody, and alimony, your high-net-worth divorce is going to be plagued with several others that you haven’t even considered yet such as estate planning, inheritance, taxation, and more. Here at Zide Siegel Tabor & Spigel, our decades of experience with all kinds of family law, adoption, criminal defense, bankruptcy, and wills and estate matters, makes us the best fit for delivering well-rounded representation that protects your and your children’s future self-interests."
For more information about Zide Siegel Tabor & Spigel | ZSTS, contact the company here:
Zide Siegel Tabor & Spigel | ZSTS
7310 Ritchie Hwy
Glen Burnie, MD 21061
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