High net worth divorces are significantly more complex than average divorces. The attorneys of the Ramos Law Group have the experience and expertise necessary to successfully navigate this type of divorce.
At the Ramos Law Group we understand your unique concerns about finding and tracing assets, dividing funds in a variety of holdings, characterizing separate and community property, maintaining privacy, and creating fair provisions for spousal and child support. The high net worth divorce lawyers at the Ramos Law Group have a proven track record of negotiating and litigating favorable outcomes in high net worth divorces.
The Discovery Process
The strategy used during the discovery process is often determinative of the outcome of the case. The attorneys and paralegals at the Ramos Law Group are comfortable managing high volume discovery cases as well as seeking and responding to motions to compel additional discovery.
In a high net worth divorce, failure to properly respond to discovery requests can result in financial sanctions issued by the Court. Failure to properly request all relevant information can result in an unfair result as one spouse may be able to successfully hide assets. Failure to properly object to inappropriate or overly broad discovery requests can result in private or proprietary information being turned over to the other party. The information gathered and given away during the discovery process is critical in the ultimate property division.
After financial information has been gathered during the discovery process, it must be compiled into a format that is clear to the Court. The high asset divorce attorney assigned to your case will make sure this happens. The Court must understand the nature of the property in order to make a fair division.
High net worth divorce cases differ from other divorces in that it is common for one or both parties to hire a valuation expert or tracing expert. A valuation expert determines the value of the property held by the marital estate. Often individuals enter a marriage with substantial assets, or perhaps inherit money or property during the marriage. These assets should be characterized as separate property and should not be considered in the division of the estate.
It is the responsibility of the person claiming the property as separate to clearly prove the origin of the asset. If the property is not clearly shown to be separate, the other spouse may be able to claim a portion of that asset.
Privacy is an especially important consideration in a high net worth divorce. Mediation and arbitration are a confidential alternative to hearings in open court. Additionally, it may be important to seal your divorce to prevent it from becoming a part of the public record.
Child and Spousal Support
Spousal support is frequently an issue in cases where there are substantial assets to divide, as is child support. Guideline child support is based on an individual’s net monthly income. Child support is currently ‘capped’, and only the first $8,550 of net monthly income is considered in many cases. Child support can be awarded above this cap by showing that the proven needs of the child exceed the amount of money that would be awarded under the maximum guideline child support.
The divorce lawyers at Ramos Law Group can work with you throughout the discovery process, valuation process, and child or spousal support determination. Contact our experienced high net worth divorce lawyers today for help.