When Children Are Involved in a High Asset Divorce
What can make an already complex, high asset divorce more complicated? When there are children involved in the equation.
Here are four areas that will likely be significantly affected by a high asset divorce.
When children are involved in any divorce, custody is usually an issue. In a high asset divorce, custody battles can reach the next level in intensity. Couples may not only have the resources to adequately care for children but also have the resources to battle fiercely in court. Even where custody may not be important to one party, they may still use the issue as a negotiation tool to get other assets or concessions. Custody, of course, can have a big impact on child support payments.
Child support is often determined by a parent’s ability to pay. It will also depend on an amount they can afford. This will involve a fair assessment of their income and assets. This can be a challenge in high-asset divorces where businesses, foreign investments, and other complex financial issues may be involved. Often, a forensic accountant may have to be called in to help value assets to determine fair child support.
Future Care and Expenses
In a high asset divorce, a child’s future security may come into play. This may be in an effort to ensure an exceptional college education and as well as including some form of trust. This can be another facet in an already complex process.
High Assets Can Equal High Intensity
High-asset divorces can be intense. Parties may be competitive, used to getting their way, and educated. Many times, one spouse plays a heavier handed role in marriage decisions and can be controlling. We have seen instances where a spouse even wants impact on their partner’s choice of a divorce attorney. They may have “winning” as a priority as opposed to the interests of the children. An experienced, high-asset attorney familiar with family law can help level the playing field.
If you live in the Tampa, Florida area and are facing a high asset divorce that includes children, reach out to us. We will help ensure both you and the involved children are treated responsibly and fairly. We work diligently to uncover available assets and work hard to get just settlements.
Stand up for yourself and your children. Contact us today.
If you have questions about a prenup agreement or a postnup agreement or require legal assistance in other areas of Family Law in Tampa, Florida such as high asset divorce you may always contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at [email protected].
We now offer virtual prenuptial agreements. Contact us to inquire further about our virtual prenup option.