High Net Worth Divorce Attorney Tampa FL
If you are going through a divorce, it is important to make sure that you are represented by a Tampa, FL high net worth divorce attorney with experience. Finding the right divorce lawyer can be a challenge, but it is worth the effort in order to ensure that your divorce proceedings are handled with the highest level of care and expertise. High net worth divorce lawyers are uniquely qualified to handle the complex legal and financial matters that often accompany divorce cases involving high asset couples. Learn more about how an attorney can help your case, and then contact one today at The McKinney Law Group.
Dividing Up Assets
The first step your attorney will take is to identify what assets exist in the marriage. This includes both assets owned by the individual spouses and assets jointly held. The attorney will then determine how each asset should be divided up according to Florida law. This can include splitting assets equally or in proportion to each spouse’s contributions. Your high net worth attorney will then prepare all the necessary paperwork to transfer the assets to their respective owners. This includes deeds, titles, contracts, and other documents. Your attorney will also help you protect your rights and interests throughout the process, ensuring that you get what you are entitled to from the divorce.
Custody Arrangements
When it comes to custody arrangements, a Tampa high net worth divorce attorney is essential for obtaining the best outcome for their client. Financial considerations are often taken into account when deciding on a custody arrangement. This means that the court may look at the ability of each parent to financially provide for the child. In addition, the child’s mental and emotional wellbeing are also taken into consideration when making a decision. Plus, your lawyer will be able to help negotiate an arrangement that meets both parents’ needs while considering the child’s best interests.
Maintenance and Support
The spouse with the higher income may be required to pay maintenance or alimony to the other spouse. This is typically done to ensure that both spouses are able to maintain a similar standard of living after the divorce. Maintenance payments can be set up as either lump sums or periodic payments, depending on the needs of each spouse. In some cases, a court may also order temporary maintenance payments while the divorce is still pending.
Tax Implications
Not all assets are treated equally when it comes to taxes, so it is important to understand what will be taxed and how much. For example, income from investments will be taxed differently than money received from the sale of a business. They can also explain how alimony payments can be structured for tax purposes. Your divorce attorney can also help you make sure that both parties understand any tax liabilities associated with the divorce settlement. This includes making sure the division of assets is fair and equitable, which could mean one spouse taking more assets than the other in order to pay off a certain tax liability.
Retirement Accounts
Whether the assets are held in a 401(k), IRA, or another type of retirement plan, an experienced divorce lawyer will ensure that each party receives a fair share of the funds. An attorney can look at your assets and retirement plans to help you best protect yourself. Contact a Tampa high net worth divorce attorney at The McKinney Law Group today for help!