High-Asset Divorce Lawyers
Florida Divorce Lawyers: High-Asset Cases
When divorcing parties have been involved in a long-term marriage, there is a greater likelihood that there will be significant assets to be distributed upon divorce. Other times, it may be a short-term marriage but one or both parties have a high net worth. In high-asset divorce cases, the parties need a knowledgeable family law attorney to help protect his/her assets. A Gainesville divorce lawyer with the Law Office of Silverman, Mack & Associates has the experience and professionalism required to help you navigate the high-asset divorce process.
What Is A High-Asset Divorce?
A divorce becomes high-asset when the divorcing couple accumulated a high level of property and wealth during the marriage. This can include community or marital property, any property bought after the marriage began. Assets that generally fall under the division lines during a high-asset divorce include:
- Cars, boats, other personal vehicles
- Real estate
- Business partnerships
- Securities portfolios, stocks, bonds, and other financial investments
Who Are Most Likely Candidates For a High-Asset Divorce?
If a couple amassed significant assets and/or had one or both parties as high wage earners, a divorce will be considered high-asset. On the other hand, a high-asset divorce can take place when the divorcing couple had diverse income streams, assets, and investment vehicles. A business created during the course of the marriage which has had financial success can dictate a high-asset divorce. A divorce attorney Gainesville, FL with the Law Office of Silverman, Mack & Associates can help you determine if your divorce would fall under the realm of high-asset.
Stipulations, Restrictions & Special Circumstances of High-Asset Divorce
Due to the complex financial nature of a high-asset divorce, a divorce lawyer Gainesville, FL will help you sort out the details of your case and take into consideration the special circumstances of your divorce.
Forensic Accountants and/or Valuation Specialists
Throughout the course of a marriage, many couples co-mingle funds or assets which then need untangling during divorce proceedings. This may also happen if a business was opened by both parties during the marriage. Forensic accountants trace where funds and assets originated, while a valuation specialist can tell you the value of the business assets before they are divided during the divorce.
Transferring assets during a divorce generally has tax consequences for both parties, but in a high-asset divorce, the consequences are much more substantial. A divorce lawyer in Gainesville, FL will work with your accountant to lessen the tax consequences following the division and transfer of assets.
Potential Alimony and/or Child Support Obligations
Alimony and child support orders are both based on the net income of both parties. If one party earns substantially more income than the other, the higher earning party may have considerable alimony obligations depending on the divorce settlement agreement. Additionally, child support, if necessary, will be factored in with the higher earning party paying proportionally more.
Possible Attorney’s Fees for Your Spouse
If the party seeking the divorce earns substantially more than the other party, they can expect to pay at least some part of the other party’s attorney’s fees. This is often the case when the other party has little to no income.
Postnuptial Agreements & High-Asset Divorces
While prenuptial agreements have historically gotten the most attention when discussing divorces, postnuptial agreements have begun to gain traction in recent years. Signed after the marriage has begun, a postnuptial agreement specifies the couple’s marital property, such as financial assets, and what would happen to the property should the couple separate and/or divorce. This agreement can be beneficial during a high-asset divorce which did not have a prenuptial agreement in place before the marriage began. A divorce attorney in Gainesville, FL with the Law Office of Silverman, Mack & Associates can help you draft a postnuptial agreement and avoid the headache of dividing up marital property in the courtroom.
Have a Gainesville Divorce Lawyers On Your Side in a High-Asset Divorce
High-asset divorces are more likely to require the use of additional experts which may include financial planners, accountants, forensic accountants or valuation experts. The attorneys at the Law Office of Silverman, Mack & Associates have used experts in many cases and are prepared to recommend, consult and hire the experts necessary to prepare your case for court.
While it may sound expensive to hire experts, it may be the most cost efficient course of action. Experts can often simplify the case for the judge which can ultimately save money by reducing the attorney’s fees necessary to take the case to trial. Not all family law attorneys are equal. The Law Office of Silverman, Mack & Associates has one of the few board-certified attorneys in marital and family law. Furthermore, all of our Gainesville divorce attorneys have significant litigation experience and are well prepared to present and defend your case in court. Contact the Law Office of Silverman, Mack & Associates to further discuss your case and what can be done to protect your assets.