Every divorce requires the division of property and most divorces will also involve issues of spousal support and child support. Divorce cases for couples with significant financial assets frequently have additional and complex issues that require a more in-depth analysis to determine the nature and extent of the assets and income and to ensure both parties are treated fairly.
Complex Property Division And Other Issues For High Net Worth Couples
If your divorce situation involves the following matters, it would be wise to consult with a law firm that has the experience, skill and resources to handle complex divorce cases:
- Unique or unusual assets like race cars, art, collectibles or memorabilia
- A substantial inheritance
- Significant income from self-employment
- A family-owned business or co-ownership of a business
- Executive pay packages, stock options and other high-value benefits
- A substantial inheritance
- Multiple real estate properties
- A prenuptial or postnuptial agreement
At Wilson-Goodman Law Group, PLLC, our divorce attorneys provide legal services tailored to your individual needs, with access to business and financial experts to ensure that your financial affairs are understood and that your assets are handled properly.
Support Guidelines Are Only Guidelines
Arizona child support guidelines are not necessarily directed at high net worth couples. Following the guidelines can be extremely unfair to the child and unreasonable for the custodial parent. Your divorce attorney may be able to build a case for financial contributions over and above the standard child support guidelines amount in order to provide for the child in an appropriate manner consistent with the family’s social standing and lifestyle.
The court makes decisions about spousal maintenance based on a number of factors, including duration of the marriage and employment history and earnings of each spouse and the existence of other assets to be awarded for the support of the spouse entitled to maintenance. There is no strict formula for determining alimony, so the skill of your attorney will be crucial to ensuring your financial freedom.
Arriving at A Decision Regarding Property Division
While most high-asset divorce cases will ultimately require some litigation in family court, many financial issues can be explored and even settled prior to court through the use of forensic accountants, business appraisers or valuations and by utilizing the services of a private mediator or a special master who is knowledgeable in the area of high net worth marital assets.
At Wilson-Goodman Law Group, PLLC, our goal is to meet your goals while also protecting your financial interests. We facilitate the use of expert resources for cost-effective and timely decision-making regarding marital assets.
Problems With The Division Of Marital Assets
There are several situations in which the actual value of an asset or the amount of assets is unknown. Business owners often have the ability to transfer money from the business into personal accounts or to use business funds for personal purchases. Executives often receive some compensation that does not show up on a W-2 as a tax avoidance mechanism, but that “income” should still be considered as a marital asset.
We work with forensic accountants and investigators to get an accurate picture of the assets of the couple to ensure that our client receives a fair and equitable division of the marital property.