MIAMI HIGH NET WORTH DIVORCE LAWYER
Going through a divorce is a stressful and complicated process for anyone involved. However, if you and your spouse are beginning the process of divorce, but there is as substantial amount of assets, property, or other things that factor into a high net worth, then you need to be confident that you are working with a divorce attorney in Miami who can handle this task. Pazos Law Group will work with you through your divorce to protect your assets, properties, investments, and debts properly. The SEC defines a “high net individual” as anybody whose net worth is reasonably believed to exceed $1.5 million. This value can be individual, or distributed with their spouse.
While the Florida court system does not treat divorces of higher net worths differently than any other divorce on a legal basis, there are many more complications that will need to be handled by the divorce lawyers involved. Read more below about some factors that will need to be considered through a high net divorce in Miami.
Division of Assets
Assets will need to be categorized as “marital” or “non-marital” before we are able to determine what will be divided and what will remain in place. If you or your spouse had full possession of the asset in question before the marriage and the deed was never altered to include the other spouse, this is considered “non-marital.” Some assets that will likely be deeded as marital assets include:
- Stock certificates
- Savings accounts
- Retirement Accounts
- Investment Portfolios
There are many other assets that could be involved in your divorce, and it is important to work with a financial adviser to determine everything that will need to be considered. If you are found attempting to hide assets to protect them from the divorce, this can cause additional problems and may lead to litigation.
If one spouse had the majority of the wealth before the marriage, and the majority of the earning power during the marriage, they will likely need to pay alimony. The amount of alimony, or a different agreement, can be decided between the spouses collaboratively or will be decided by a judge after the facts are laid out in a trial.
Contested or Uncontested Divorce?
It is up to you and your spouse to decide if you will try to manage your own divorce and file uncontested in Florida family courts, or if you are unable to reach common ground and will opt for litigation. There are many benefits to an uncontested divorce, but you will want to work with an extremely competent divorce lawyer in Miami to handle this sensitive matter.
In an uncontested divorce, you will have more say over how your assets, debts, and other complicated issues. You will be able to work with your spouse and their attorney in order to reach an agreement without leaving anything up to the decisions of a judge following a trial. If you and your spouse are willing to work together to reach a fair agreement, then this is a much better option.
If you and your spouse are unable to reach a decision collaboratively, then you may need to take it to trial as a contested divorce. In it, you will lay out the facts about your financial situation, make your arguments, and leave the final ruling to a judge. This is generally not a good option for a divorce unless it is absolutely necessary, because it takes the destiny of your hard work and assets out of your own hands and leaves it up to the Florida courts.
Contact Us Today
If you are at the beginning of a divorce and are concerned about how your high net worth will be handled through these steps, contact the Pazos Law Group today. You will be able to discuss the specifics of your situation with an experienced divorce attorney in our Miami office, and understand how we will work with you to protect your assets while we are representing you through this process.
Contact (954) 951-2405 or reach us online.