high asset divorce

High Asset Divorces And Child Custody

High Asset Divorce Attorney

Getting a high-asset divorce presents unique challenges for everyone involved in the divorce process, including the children. When you are a partner in a high-asset divorce, you need to consider not just how the divorce will affect what you get out of it, but also how the divorce can be used to take care of your kids. Though most people believe that child custody will go to the mother, the truth is that a judge will want both parents to have as much time with the kids as possible. Just because one parent may have more wealth than the other does not indicate that one should get parental rights over the other. If you are concerned that this may impact your divorce in some way, it is important to speak with a lawyer as soon as possible. 

Will a high net worth impact child support payments? 

When you are going through a high-asset divorce, it is important to speak with your attorney about how this will affect child support payments and what will happen to your children. If one parent has primarily taken care of the kids while the other parent has worked, a judge will likely want to keep with the same routines that the children had before the parents got a divorce. Similarly, if one parent is providing financial support for the children’s education and extracurricular activities, it is likely that the judge will want this parent to continue paying and pay fair child support to the custodial parent. 

How is child support determined? 

Child support is determined based on many things, including what both parents make. Determining the total income from both parents will include things like: 

  • Salaries
  • Bonuses
  • Inheritances
  • Investments

As a Tampa, FL high asset divorce attorney from The McKinney Law Group knows, there is no set formula that will determine exactly how much child support the non-custodial parent will pay. Though there are basic rules a judge could follow, high-asset divorces make things more complicated. A judge can adjust how much support the non-custodial parent can pay to best reflect what the child needs and what expenses must be covered. If you are the custodial parent in the relationship and are concerned that you will not be receiving enough child support to maintain your child’s living expenses, you should speak with your attorney as soon as possible to discuss your concerns. 

Further, it is crucial that you speak with your attorney if you believe your spouse is not being honest about what their monthly net income is. If they misrepresent their income in hopes of paying a low amount of child support, you should speak with your attorney about investigating financial records to get the right number. Your children should not be the ones to suffer because one parent does not want to pay a fair amount for child support. 

When you are ready to move on with your high-asset divorce, get the help of an attorney you can trust throughout this complicated process.