Importance of Hiring Counsel for Your High Net Worth Divorce
Divorce can be challenging, especially when spouses have a high net worth. Cases like these are nearly impossible to handle without the help of experienced Sarasota Florida high net worth divorce attorneys.
Dividing Significant Assets in a Florida Divorce
High net worth couples may have multiple homes, vehicles, businesses and other assets. Under Florida’s equitable distribution laws, the courts determine the fairest way to divide marital property. However, this doesn’t always mean that divorcing couples each get an equal 50/50 share.
Business ownership complicates things in a divorce. Experts in business appraisals, including sometimes those who are also forensic certified public accountant expert witnesses, determine the value of a business. Courts then determine whether the business should be liquidated, bought out by own spouse from the other, given to one spouse only, or shared. The divorce lawyer at the Law Offices of Matthew Z. Martell understands these complex issues and is ready to help you resolve them.
Factors in determining alimony include the length of the marriage, the couple’s standard of living during the marriage, the actual financial needs of the spouse who will receive alimony, and the existing marital and non-marital assets of each spouse. Other factors include age and physical condition of spouses and his or her earning capacity. The divorce attorney at the Law Offices of Matthew Z. Martell understands how alimony is determined under Florida law and can help you get the best possible alimony award or settlement.
Working out Child Support
Another layer of complexity in a high-asset divorce is often calculating child support. Florida courts follow state Statute 61.30, which determines child support based on the income of both parents. The scale for this statute is between $800 and $10,000 per month, but courts can go around this scale in cases where the parents’ income is higher than $10,000/month as it often is in Sarasota, Bradenton, Lakewood Ranch, and Venice, Florida high net worth divorces.
What about Privacy?
The right Sarasota Florida high net worth divorce attorneys can help couples avoid frustrating required public disclosures of your private financial information by helping spouses confidentially be more transparent with each other outside of the court system. Specifically, it such cases our Sarasota divorce attorney may recommend utilizing a collaborative divorce which offers a higher level of financial confidentiality.
Hiring Counsel Can Help
Divorce is stressful enough without the added pressure of trying to figure out how to separate and distribute numerous high-value assets. If you’re facing a high-net worth divorce in Sarasota FL, then please contact the Law Office of Matthew Z. Martell at (941) 556-7020 to schedule a no-cost confidential 30-minute initial phone consultation.