Complex High Asset Divorce Lawyer Tampa, FL
A divorce is rarely simple. From the tolling emotions and financial strain, both parties tend to walk away feeling drained. For those who have high net worth assets, divorce can become even more grueling. A complex high asset divorce lawyer Tampa, FL respects should be called upon for these kinds of legal matters.
High asset divorces tend to be complicated. There are more assets to divide and more to gain – or lose. Knowing what to expect and how to prepare can put both spouses in a better situation. The best place to start is by retaining experienced, complex high asset divorce lawyers in Tampa, FL. A respectable lawyer isn’t just a legal advocate who will have your best interests in mind. Rather, they will have a considerable understanding of the relevant laws and statutes, as well as be able to refer to similar cases in order to support the overall case.
Finances in High Net Worth Divorces
One of the most challenging parts of a high net worth divorce is the complicated financial network that is often involved. Prior to filing for a divorce, important financial documents should be located and kept safe. As the divorce proceeds, locating these documents can be difficult. Without knowing where tax returns, bank statements, accounting records, and so forth are, there will likely be unwanted surprises or elongated processes.
Separate or Community Assets?
Knowing where the assets are is just one part of the divorce. As a complex high asset divorce lawyer in Tampa, FL might explain to you, there are different assets. Community assets are those that were acquired during the marriage. If there is a prenuptial agreement, there could be stipulations that state otherwise. Separate assets are those that belong to the individual. These may include any property that was owned by one person before the marriage, an inheritance received before the marriage, gifts received during or before the marriage, and so forth. Sometimes, assets that were separate have been integrated with marital property. This is common in high net worth divorces. Usually, assets will need to be traced to determine if they are separate, or have they commingled with marital property.
Will a High Net Worth Divorce Be Contested?
In general, high net worth divorces are more likely to be contested. However, spouses who have high net worths are more likely to be able to contest marital or community assets. Even if the legal fees to recover these assets are high, it may be worth contesting them. Valuation appraisers are usually needed by each spouse. These parties can locate assets, and any related paperwork, and determine what each asset is worth. A complex high asset divorce lawyer in Tampa, FL can help you to understand whether or not anything should be contested.
Depending on various factors, spousal support can become more complex in the matter of a high net worth divorce. It is not uncommon for assets to be missing, bank accounts concealed, or assets hidden from their partner. Uncovering these assets could potentially affect spousal support.
Choosing the Right Law Firm
A high asset divorce requires a knowledgeable complex high asset divorce lawyer in Tampa, Florida. For a consultation with the right lawyer, call The McKinney Law Group today.