One can hardly turn on the news or look at the magazine stands without hearing about another high profile nasty divorce. Sometimes it’s between the rich and famous and sometimes just the rich. However, for those going through the ordeal, there is no doubt that the process takes a tremendous toll on each parties mental health, not to mention the wealthier partner’s bottom line. Obviously, planning for separation when getting married allows for a smooth predictable transition from marriage to single for both adults and a much great easier time for the children.

The current edition of the Economist, details the decisive impact of residency and citizenship on divorce and custody LINK. As the article outlined, the venue chosen to petition a divorce will have a dramatic effect on the final financial and custody arrangements. Furthermore, different venues will treat pre-nuptial agreements and asset protection trusts (including custody arrangements) quite differently.

With divorce being better than 65% in marriages of the UHNW and an almost certainty when one looks at multiple generations, pre-marital planning for custody, asset division and alimony arrangements is as essential as planning for the other certainty….death. As one of my happily married clients pointed out to me, my principal worry is not my husband and I getting divorced, it is just that we have no control over who our cute 14 year old daughter will eventually marry. We just don’t want the family’s wealth, privacy and happiness compromised in case there is a future “son-in law shot” . In other words, like in golf, when your children marry, it is sometimes not what you were hoping for.

David S. Lesperance, Barrister and Solicitor