Fort Lauderdale High Asset Divorce Attorney
Helping High Net Worth Individuals in Pompano Beach
Ranking third among states with the highest divorce rates, Florida's family courts process roughly 50,000 divorce filings each year. More than 15% of the state's population is either divorced or separated. In South Florida, high asset divorces involving individuals who have a very high net worth are commonplace.
At Stuart N. House, P.A., our Fort Lauderdale high asset divorce lawyer has over 20 years of experience fighting for the rights of high net worth individuals engaged in divorce.
Common Challenges During a High Asset Divorce
Individuals in Broward County who are famous or have a high net worth are typically considered high-stakes clients when they are involved in a divorce case.
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 certain 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 lofty child support bill. An experienced divorce lawyer can help you fight for your parental and 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 take into account a wide variety of factors, which can result 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. In a high asset divorce, where the property at stake is valuable and frequently worth a considerable sum, property division disputes can get ugly quickly.
- Businesses and investments. Frequently, high asset individuals have exceptionally valuable non-property 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 a complicated process.
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.
Is Privacy Possible for High Net Worth Individuals?
For parties involved in a high-stakes divorce in Fort Lauderdale, privacy and discretion are likely to be especially important. Prominent business owners may be concerned about the public release of specific financial information. Even spouses who are not as well-known, but are divorcing high net worth or otherwise famous individuals may wish to part ways from their spouse with as little publicity as possible.
In a high-asset case, there is a far greater possibility of previously private financial and personal information becoming fodder for public conversation. However, hiring an experienced high asset divorce attorney who prioritizes discretion may help individuals preserve more of the private details of their lives in Fort Lauderdale and Pompano Beach.
Like divorces among everyday people in Fort Lauderdale, issues in a high-asset divorce may be settled pre-suit. Most experienced divorce attorneys will discuss pre-suit settlements in virtually all high-stakes cases. In addition to potentially 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 pre-suit settlement provides considerable benefits, there are some instances in which cases require immediate action and cannot be negotiated prior to filing in court. Cases that involve urgent child-related issues typically require a court appearance and cannot be settled pre-trial. 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 prior to proceeding to court.
If you're in search of a Fort Lauderdale high asset divorce attorney, look no further. At Stuart N. House, P.A., our attorney has over two decades of experience as an advocate for high net worth individuals engaged in divorce cases.
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