Divorce can be emotionally and financially draining. This is especially true for high-income individuals and couples with income disparity. At 941 Law Help, Sarasota divorce attorney Michael Fayard understands the challenges of high-asset divorces and can help individuals protect their assets and ensure his client’s position is maximized.
High-asset divorces in Florida occur between couples with significant assets and high net worth. This could include business owners, executives, and individuals with substantial holdings.
High-asset divorces can also involve individuals with significant income disparity. Divorces where one spouse has a much higher income than the other can be complicated. These cases require careful consideration and skilled advocacy to ensure a proper result in the division of assets and wealth.
If you’re a professional, business owner, or the spouse of someone with considerable means, contact attorney Fayard. Let us explain your options and guide you toward either retaining all that you are entitled to under the law or ensuring that you receive everything you deserve.
A high-asset divorce can involve more than the marital home and personal bank accounts. While they are noteworthy assets, dividing marital property can also affect:
Divorce is always hard. But things can get messy when large wealth disparity or substantial assets are part of it. Spouses may be worried about getting their fair share.
In most divorces, dividing assets, debts, and interests is straightforward. But high-asset divorces are different. They usually involve intricate business dealings, complex support agreements, or a negative impact on their business, taxes, and investments.
Regardless of income, marital property in Florida is divided through equitable distribution. This means the court identifies and values every asset and liability. They consider a spouse’s contributions, economic circumstances, and other relevant details like the length of the marriage before dividing property. Because of this, wealth division often requires financial experts, accountants, and lengthy negotiations.
High-wage earners must protect themselves. Likewise, former spouses must look out for their interests when divorcing someone who earns significantly more. To better prepare, work with a divorce attorney who understands your goals.
Attorney Michael Fayard has had a lot of success in high-asset divorces in Sarasota, Florida. 941 Law Help can assist with:
You worked hard to earn what you have or made sacrifices for your former spouse’s career. Regardless, you should advocate for everything you’re entitled. Let us navigate the complexities and ensure your interests are looked after. Call 941-265-2733 or submit a request for a consultation.
Private and family-owned businesses are considered marital assets subject to equitable distribution. This can involve obtaining business valuations and deciding how to split the company.
Spousal support or alimony may be awarded in high-income divorces. This is common when one party earns significantly more. The amount and duration depend on factors like the length of the marriage, each party’s resources, and the standard of living.
Prenups are typically enforceable in Florida. The terms of the agreement will be considered, but the court may also consider other factors in determining a fair and equitable distribution of property.
When leaving a marriage, many worry about their ex concealing their wealth. Examples of hiding assets include transferring marital assets to an outside party, underreporting income, overstating debts, delaying payments, and physically hiding valuables. This can lead to an unfair division of property.
When spouses are found hiding assets, the court may impose penalties. They may also adjust the property division to account for the hidden assets. If you suspect your former spouse is engaging in such activities, don’t wait. Work with an attorney who can help you uncover and secure what you’re owed.
Navigating a high-asset divorce can feel overwhelming and unfair. But it doesn’t have to be.
Attorney Michael Fayard is a highly experienced divorce attorney in Sarasota with a successful history in cases involving intricate financial holdings. With a commitment to providing personalized, compassionate, and thorough representation, Michael will work tirelessly to achieve the best possible result.