High Asset Divorce Attorney
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People usually consider those of high net worth to have at least $1 million in liquid assets available, which means they can turn it into cash at any given moment. High net worth individuals also tend to have complex financial portfolios, which can make divorce much more lengthy and complicated.
One of the things that can make a high asset divorce particularly complicated is property and debt division. If the marriage didn’t begin with a prenuptial agreement, everything shared by both people during the course of the marriage is considered marital property or marital debt and is subject to be distributed to both partners equitably.
One of the ways to make this process go a little faster is to hire a forensic accountant and business valuation expert. These individuals are both trained to outline and value all your marital and separate assets so the divorce proceedings can be clarified. Forensic accountants can also assist if you suspect your spouse is hiding financial assets from you or the divorce court.
Divorce proceedings can affect some of the following:
If you are the higher-earning spouse, the court may require you to pay spousal support. If your partner was dependent on you during the course of the marriage, he or she is likely to require spousal support following the divorce. The North Carolina General Statute Section 50-16.1A states a dependent spouse is one who is “actually substantially reliant on the other spouse for his or her maintenance and support or is substantially in need of maintenance and support from the other spouse.” The court will usually consider the following when making a decision regarding spousal support:
Separate and marital debt
Emotional, mental, and physical health
Accustomed standard of living
Expenses necessary to support each party
Length of marriage
Present employment income
Each party’s legal obligations
Separate & marital property
Recurring earnings of the parties
In cases of spousal support, marital misconduct will also be considered by the judge in determining how much, if any, post-separation support is necessary. The court will also determine the amount, duration, and manner of payment for spousal support in the long term.
Let Us Review Your Case
If you’re worried about how much you will lose in the divorce, talk to one of our experienced family law attorneys. We understand you may be under a significant amount of stress, so we work to understand what you’re going through when we advocate on your behalf. Our attorneys at Dummit Fradin are experienced in representing families through many different aspects of family law, both in court and in negotiations. Let us take a look at your case so we can offer you excellent legal advice and counsel you on the right approach to your situation. Our attorneys will be honest and straightforward about your situation. Let us see what we can do for you and your case.
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Your needs are our top priority. No matter what the case entails, we look forward to meeting and working with you to get through this matter as efficiently and effectively as possible. Stop by one of our locations today in Winston-Salem, Greensboro, or High Point, NC. We currently service the following counties: Forsyth County, Guilford County, Surry County, Stokes County, Yadkin County, Davie County, Davidson County, Rockingham County, Randolph County, and Alamance County.