An Increase In High Net Worth Divorce Cases

A high net worth divorce in Ireland involves the dissolution of a marriage where one or both parties have significant financial assets. These divorces are more complex due to the substantial wealth, property, businesses, and investments involved. High net worth individuals may own multiple properties, hold shares in businesses, and have diverse investment portfolios, making the division of assets more complicated.

Irish divorce law operates on the principle of fairness, aiming for an equitable (though not necessarily equal) division of marital assets. The court considers various factors, such as the length of the marriage, the contributions of each party (financial and non-financial), and the future financial needs of each spouse in deciding on proper provision.

In high net worth cases, the court may involve forensic accountants to assess complex financial structures, identify hidden assets, undisclosed accounts and trusts. Spousal and child support may also be significant, given the higher standard of living in certain cases.

Given these complexities, both parties in a high net worth divorce typically engage experienced legal, tax, and financial advisors to ensure fair outcomes and protect their financial interests.

The High Court in Ireland deals with judicial separation and divorce cases with total asset values of above €3 million.  

There was a 35.5 per cent increase in applications for divorce and judicial separations before the High Court in 2023. In 2019 there were only 46 cases in the High Court, compared 91 in 2023. 

If you have any queries in relation to the above or any other family law matter, please feel free to contact me directly ( matthew.decourcy@kodlyons.ie ) or any of our family law team.