Helping High Net Worth Individuals Throughout Florida
Florida ranks third in divorce, with Florida’s family courts processing roughly 50,000 divorce filings each year. More than 15% of the state’s population is divorced or separated. In South Florida, high-asset divorces involving individuals with very high net worth are commonplace.
At Stuart N. House, P.A., you’ll find a high-asset divorce lawyer with over 30 years of experience fighting for the rights of high net worth individuals across Florida.
Common Challenges During A High-Asset Divorce
When involved in a divorce case, individuals in Broward County who are famous or have a high net worth are usually considered high-stakes clients.
During a divorce, courts try and ensure both parties maintain the same standard of living post-divorce they enjoyed while married. Often, this means parties in high-asset divorce cases run into unique challenges during the divorce process:
- Child support and custody. Many high-asset couples with children provide specific amenities for their children, such as nannies, private schooling, tutors, extracurricular activities and study-abroad opportunities. If one party mostly pays for these items, the court may factor that information into a child support arrangement. As a result, the higher-income individual in a high-asset divorce may find themself facing a high child support bill. An experienced divorce lawyer can help you fight for your parental rights and financial freedom.
- Spousal support. In high-asset divorces where one party makes the majority of the money, alimony disputes often turn contentious –particularly in divorces where one spouse is accused of committing an act such as adultery that could affect the alimony arrangement. When alimony disputes occur, courts consider various factors, resulting in either party feeling as though the spousal support arrangement dictated by the court is unfair.
- Prenuptial and postnuptial agreements. Many high-asset individuals use prenuptial and postnuptial agreements to protect their assets. Determining the veracity of these agreements can be difficult, and their presence can complicate the divorce process.
- Property division. During a divorce, courts attempt to divide marital property equitably between parties. Property division disputes can get ugly quickly in a high-asset divorce where the property at stake is valuable and frequently worth a considerable sum.
- Businesses and investments. Frequently, high-asset individuals have precious nonproperty assets, such as a business they share, a shared investment portfolio or a joint bank account. Some high net worth couples may also share significant liabilities in the form of debts or other financial difficulties. Evaluating these assets and ensuring each party gets an equitable judgment from the court can be complicated.
For all these reasons, high-asset divorces can be challenging for courts. The number of complications that arise in high-asset divorces also makes it vital for high-network parties to invest in a divorce attorney they can trust to pursue their best interests in the courtroom.
Addressing Frequently Asked Questions About High-Asset Divorce
It can be difficult to make important decisions in a high-asset divorce without a clear understanding of Florida divorce law. Attorney Stuart House regularly answers questions from clients dealing with high net worth divorce cases in Fort Lauderdale and throughout Broward County. Below are answers to common questions.
What is considered a high asset or high net worth divorce in Florida?
A high-asset divorce usually involves a combined net worth of $1 million or more. However, a case with fewer assets may still qualify if the finances are complex. Even divorces involving smaller estates can raise high-stakes issues that require careful legal guidance.
What do I need to look for in a high-asset divorce lawyer in Florida?
High-asset divorces require more than basic divorce experience. You should work with an attorney who understands Florida divorce law and has handled complex financial cases. Attorney House has represented clients in high net worth divorces since 1991 and brings more than 30 years of experience to each case.
Are there special considerations in high-asset divorce in Broward or Palm Beach counties?
Yes. High-asset divorces in Broward and Palm Beach counties often involve complicated marital estates. These may include businesses, real estate, investment accounts and retirement assets. Spousal support and asset valuation often play a central role and require careful planning.
What are some dos and don’ts in a high-asset divorce in Florida?
You should avoid hiding assets or rushing into a settlement without understanding your rights. Take time to review your financial situation and your legal options. Working with a divorce lawyer can help you pursue a fair and enforceable outcome.
Do I need a prenuptial agreement before I get married if I have significant assets?
If you have a sizable estate, a prenuptial agreement can help protect your assets if the marriage ends in divorce. Once the marriage begins, it becomes much harder to put asset protections in place. An attorney can review your situation and explain whether a prenup makes sense for you.
Is privacy possible for high net worth individuals?
Many high-asset divorce clients worry about privacy, especially business owners and professionals. While divorce cases are generally public, an experienced high-asset divorce attorney may limit unnecessary exposure by handling sensitive issues carefully and exploring private resolution options when possible.
How is property divided if one of us owns a business or a professional practice?
If one spouse owns a business or professional practice, the court may require a formal valuation. The court may treat the business as a marital asset, depending on how and when the spouse acquired it. In some cases, one spouse keeps the business, while the other receives assets of equal value.
What happens to my assets if we have a prenuptial or postnuptial agreement?
If a valid prenuptial or postnuptial agreement exists, the court will usually follow its terms when dividing property. However, courts may challenge these agreements in certain situations. A lawyer can review the agreement and explain how it may affect your case.
How is alimony calculated for couples with high incomes or complex executive benefits?
In high-income divorces, alimony often involves more than base salary. Courts may consider bonuses, commissions, stock options, deferred compensation and other executive benefits. Judges also review factors such as earning capacity and the standard of living during the marriage.
What About Pre-Suit Settlements?
Like divorces among everyday people in Fort Lauderdale, high-asset individuals may settle issues pre-suit. Most experienced divorce attorneys will discuss pre-suit settlements in virtually all high-stakes cases. In addition to saving time and expense by avoiding a lengthy battle in court, a pre-suit settlement also offers the advantage of privacy as negotiation outside of court.
While a pre-suit settlement provides considerable benefits, some cases require immediate action and cannot be negotiated before filing in court. Cases that involve urgent child-related issues can require a court appearance and cannot be settled pretrial. In some situations, a spouse may require court-ordered injunctive relief to prevent the other party from hiding assets or divesting marital funds.
Therefore, high-stakes divorce lawyers must carefully consider the nature of the divorce to determine the plausibility of negotiating and settling before proceeding to court.
Put Over 30 Years Of Experience On Your Side
Look no further if you’re searching for a high-asset divorce attorney with experience in Broward County. At Stuart N. House, P.A., you’ll work with an attorney with more than 30 years of experience as an advocate for high net worth individuals engaged in divorce cases.
Call today at 754-732-7482 or send an email to start your free 30-minute consultation.