Special Concerns for High Net Worth Divorces
All divorces can be tricky, but high net worth divorces can come with special concerns that only the most experienced Florida divorce attorney can handle. Failure to have an expert at the table with you during high net worth divorce negotiations can mean walking away with substantially less than you deserve. To learn more about how high net worth divorce cases differ from others, talk to an attorney today.
Identifying and Discovering Complex Assets
One of the biggest issues in a high net worth divorce case is the identification and discovery of complex assets. Oftentimes, high net worth individuals have their wealth invested in many different types of complex financial instruments, stocks in companies, multiple accounts at various financial institutions, and more. This can also make it easier to hide some wealth from a spouse during divorce negotiations due to the complexity and magnitude of the assets. It takes an expert to identify and discover all potential marital assets that can be distributed in a high net worth divorce case.
Child Support Guidelines
Another special concern for high net worth divorce cases occurs when children are involved in the divorce. Oftentimes, the child support guidelines in Florida do not apply to high net worth cases. Both spouses may be able to support their children, but the court still might need to determine whether one parent will make child support payments to the other. Some of the factors that the court might consider include the costs of tuition at a private school, nanny or au pair childcare costs, and tutoring, private lessons, or expensive hobbies that the child may engage in that children in other divorce cases might not take part in.
High net worth couples are often hard working individuals that may be engaging in national or international matters on a regular basis. It can be difficult to find time to negotiate the terms of a divorce through divorce mediation or collaborative divorce methods. The inaccessibility of one or both spouses requires an experienced divorce attorney to handle the affairs of their divorce on their behalf.
One final special concern for high net worth cases is the existence and validity of a prenuptial agreement between the parties prior to the marriage. Many high net worth couples will sign a prenuptial agreement prior to the wedding that identifies certain property rights and issues in case of divorce. A prenuptial agreement must be reviewed for validity as well as for substance. The terms of a prenuptial agreement could substantially impact what each spouse walks away with after the divorce and must be incorporated into the divorce negotiations for the couple.
Contact Us Today for Help
If you are considering filing for divorce and have a high net worth that may complicate matters, talk to an experienced Tampa divorce attorney today about your case. Call the office or contact us at the law office of Blair H. Chan, III in Tampa to schedule a free consultation of your case now.