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Assistance navigating a high-asset divorce

On Behalf of | Jan 30, 2019 | Family Law, Firm News

Florida is a state where many people of significant means like to congregate. This is no surprise given the agreeable climate, abundant outdoor activities and lavish homes for them to choose from. However, a state that has so many people who are wealthy will also have its share of divorces. A high asset divorce must be handled differently than one of more modest means. A major part of that is having legal help to go through the assets and property that are part of a high asset divorce and to seek a fair settlement. When facing the litany of issues in such a case, having legal assistance is a must.

With a high asset divorce, there is a good chance that it will also become a high conflict divorce with the parties in dispute over residences, jewelry, automobiles, bank accounts and more. Often, there is a business at stake and both sides either want part of it or they want to be compensated based on its worth. If there are children in the marriage, the parties will likely battle over custody and visitation. Once that is determined, they will then disagree about how much support will be paid to the custodial parent. This too requires qualified legal advice.

For a high asset divorce, there are many considerations. These include, but are not limited to, property division; discovering assets that might be hidden; dividing the business or a professional practice; assessing the value of the marital estate; navigating a pre-or-postnuptial agreement; alimony; retirement plans; residences; motor vehicles; and investments. Any one of these factors can be a sticking point. Most couples who are of major wealth will have some or all. That can complicate matters greatly, delay the process and spark a long, drawn out battle.

When preparing for a high asset divorce in Florida, it is wise to avoid letting the emotional impact from the breakdown of the marriage cloud judgment and spark mistakes. Understanding the inevitable variety of concerns that come up in a high asset divorce and behaving in a cool, calm and rational manner throughout the process requires legal help. A law firm that has experience in helping people with their high asset divorce should be contacted for advice from the beginning of the process.