No two divorces are exactly the same, just as no two marriages are exactly the same. There are unique aspects to each marriage that may require a careful approach when navigating a divorce proceeding. This is particularly true when the parties have substantial assets that must be distributed. There may be serious disagreements about whether the assets are shared property or owned individually, and regarding which assets each spouse should receive. When the parties own businesses or several real estate properties, there are often complex questions about who has the right to retain the income from the assets. Since high-asset divorces raise many of these important issues, it is critical that you seek guidance from an experienced Fort Lauderdale high-asset divorce lawyer. Failing to fully understand your rights and to present a strong case could cost you substantially during a divorce proceeding. At Stok Kon + Braverman, we have guided many people through the divorce process while helping them protect their financial interests and legal rights.Navigating a Divorce Proceeding Involving Substantial Assets
There are many procedural aspects to divorces and a wide variety of factors and issues that must be considered. Overall, however, the court’s primary goal is to distribute the marital property between the spouses in an equitable and fair way. When the parties do not have substantial assets, this is usually very simple and straightforward. In most marriages, the parties acquire a home, vehicles, furnishings, clothing, and other basic personal property items that can be valued at a fair market price. In situations in which one of the parties or both parties accumulated substantial wealth during the marriage, by contrast, this task becomes more complex.
One of the key steps in a high-asset divorce is determining the value of all of the assets involved. This can be a house, a piece of real estate, a car, or a rare piece of artwork, among other examples. Determining the value of an asset may require assistance from experts in specific industries. Although this can lengthen the divorce process, having an appropriate valuation is critically important. The other party may obtain an expert to testify about the value of an asset, so it is important to do your own investigation to make sure that the valuation is accurate and fair. If the parties’ appraisers disagree about the value of an asset, the court will determine which appraisal is a more accurate valuation of the asset. Appraisers must follow a specific methodology when it comes to valuing property, and an experienced high-asset divorce attorney in Fort Lauderdale will be familiar with this process.
Child support is also a key area when it comes to wealthy spouses seeking a divorce. In determining whether one party must pay child support, the court will assess the gross income of each party and their proportional net income. If the husband earns substantially more income each month, for example, the court may determine that the husband must pay child support to the wife. In some situations, the court may also order that the higher-earning spouse pay alimony (spousal support) to the lesser-earning spouse for a period of time. According to Florida law, the judge may also consider each party’s financial ability to pay for reasonable attorneys’ fees and other costs involved with the legal proceeding.
In some situations, a party may attempt to misrepresent his or her individual income to avoid paying child support, alimony (spousal support), or attorneys’ fees. A divorce attorney who regularly handles these cases can help ensure that your spouse does not hide assets or funds from consideration by the court.Seek Advice From a Fort Lauderdale High-Asset Divorce Attorney
Whether you are currently involved in a divorce proceeding or considering filing for divorce, we are ready to help you explore your legal options and rights. There are many issues to consider, especially when you have substantial assets to protect or are pursuing a late-life divorce. We can protect your rights and interests while you cope with this dramatic change in your life. We serve people in Fort Lauderdale, Boynton Beach, Hollywood, Pembroke Pines, Tamarac, Weston, Plantation, Pompano Beach, Hallandale Beach, Davie, and Coconut Creek, among other cities. You can contact us online or call us at 954-237-1777 or 561-736-7117 for an appointment with a high-asset divorce lawyer in the Fort Lauderdale area.