Essential Property Protection and Distribution. Accurate Business Valuation
At The Law Offices of Sean M. Cleary, we are committed to careful preparation and a good outcome in your high-net-worth divorce, whether through negotiation, mediation, or trial, if required.
Despite our best attempts to keep the expense of a contentious divorce low, the nature of the difficulties in a divorce, as well as the other spouse's lack of cooperation, can make an amicable conclusion impossible. However, we have the resources and knowledge to advocate your interests in court when complicated asset and debt division disputes arise.
In Florida, divorce proceedings involving high-net-worth individuals frequently pose several property-distribution difficulties. Divorcing spouses who cannot agree on distributing property must turn to the courts for assistance. A court must divide the property equitably or fairly under Florida's equitable distribution scheme. That may or may not imply an even split between the parties. Property division can be challenging for spouses who operate a business or have a variety of assets and sources of income. However, spouses can decide how they'll share their property in a prenuptial or postnuptial contract.
High net worth divorces frequently involve complex asset division cases. However, during the separation process, not all the assets that the parting spouses possess are subjected to division; only those acquired while they were married, which may include:
- Business interests
- Art collections
- Stock options
- Real estate holdings
- Vehicles and boats
- Retirement accounts
- Valuable furniture
The court must first determine what property the couple owns before making a final determination on asset split. This act includes determining the fair market value of any business assets you own. It is a lengthy process that requires the court to weigh the value of a company's assets, predicted future earnings, and intangibles such as "goodwill" derived from trademarks, business ties, and organizational synergy. This evaluation often sparks controversy among experts, but it should essentially be based on the business's open market pricing.
The volume and complexity of property involved in a high asset divorce require considerable effort and experience from attorneys who team up with other specialists to conduct all the necessary assessments. You may rely on our legal team's expertise to:
- Complete a comprehensive examination of your assets and property holdings, including accurate real estate, company interests, pensions, retirement accounts, and other investments assessments.
- Recognize and account for critical historical issues, such as when one spouse worked while the other pursued their education.
- Proper valuation and interest division in a family firm (closely-held business).
- Division of interest in a professional practice conducted by a spouse, such as a law firm, a medical business, or a dentistry office.