While every divorce is unique for reasons we can understand, the senior executive divorce has its own challenges. By senior executives, we’re referring to the CEOs, the CFOs, the business owners, serial entrepreneurs, and other accomplished professionals of the world.
Senior executives are detail oriented. They run companies. They run large teams, and they are driven to succeed. They often work 50 to 80-hour workweeks, are frequent travelers, and have their own assistants at the office. Over 100% of the executive’s focus is on work and they have very little time or energy to deal with their personal lives. And here lie the challenges involved in senior executive divorces: a lack of time to devote to their divorce, and frustration about their lack of control over the process.
Combatting the Common Challenges
When dealing with high-profile senior executives, it’s not unusual for them to have little time to devote to their divorce. If they don’t have an assistant help them gather the necessary documentation, it can be very difficult to get financial documents from them. Senior executives typically have direct knowledge and access to their financial records, such as real estate holdings, investment accounts, life insurance policies, credit card statements, and mortgage loan documents, etc.
But when they delay in submitting the required financial documentation to the court, as they often do, they can appear dishonest and as if they’re hiding assets. They can even lose credibility with the court, leading to adverse consequences that compromise their divorce. Because of this risk, it’s important to hire an attorney who frequently represents senior-level executives in their divorces.
Other issues unique to senior executive divorces:
- Protecting the executive’s privacy
- Telling the Board of Directors
- Avoiding bad public relations
- Dividing company stock
- Dividing 401k or IRA assets
- Business valuation (for business owners)
- Protecting the executive’s public image and career
Legal Representation for Senior Executives
At Leavitt Law Firm, we handle senior executive divorces every day. If you’re an executive, we understand how busy you are, and we know how important it is that your divorce is streamlined to the full extent. To make the divorce process more efficient, we can schedule meetings well in advance, and send a meeting agenda ahead of time so you can prepare.
But these are only a few of the measures we take to take care of you, the way you take care of your company. To learn how we can help you navigate your senior executive divorce, contact our Las Vegas divorce firm today.