Miami High Asset Divorce Attorney

High Net-Worth Divorce Lawyers

Going through the divorce process can be complicated for any couple with joint finances. However, high-net-worth couples face additional stressors when determining how to split complex asset portfolios and fairly restructure their joint assets.

If you are planning or going through a high net-worth divorce, you need a competent high-asset divorce attorney on your side to ensure that your rights and assets are protected. Schedule your strategy session with our professional family lawyer in Miami so that you can get the help you need and deserve.

Who Needs a High Net-Worth Divorce Attorney in Miami?

Sometimes, the judge in a divorce case is able to split the marital property 50 / 50 without any issues. However, the vast majority of high-net-worth divorce cases are not so simple.

Working with a high net-worth divorce attorney can be highly beneficial if you and your spouse:

• Have shared assets that are difficult to divide, such as a business or real property
• Cannot reach an agreement about the division of property
• Do not agree with the judge’s assignment for asset division
• Need a creative solution for a complex problem.

How Is Marital Property Divided Between Florida?

In a divorce, Florida law separates property into two categories: marital property and non-marital property. Marital property is property acquired by either spouse during the marriage, while the non-marital property was acquired before the marriage.

Florida typically uses a 50/50 split system to divide marital property. However, in a case in which a judge believes a 50/50 split would be unfair to either spouse, they may consider all relevant factors and determine another proportion to divide the property.

If the couple has property that is difficult to split — such as real property or businesses they do not want to sell — the judge may award the asset to one spouse and award an equally valuable asset to the other spouse. This process can be complex and this is why working with an attorney, and often a forensic accountant, throughout the process is essential.

Why Are High-Net-Worth Divorces Complicated?

Dividing marital property in high-net worth divorces often requires more consideration than in traditional divorces. High-net-worth couples sometimes have nontraditional assets that are challenging to value and equally divide between spouses.

Additionally, the process of valuing and inventorying all of the assets shared between a high-net-worth couple can be time-consuming. The couple may have trouble determining which property is shared and which is non-marital property. They may also disagree about the division of their assets.

If you are navigating a high-net-worth divorce, our divorce attorney team can help protect your rights to your property and ensure a fair division of assets.

Miami High-Net-Worth Divorce Lawyers

At Miami Family Law Group, PLLC, we understand that divorce cases involving high-value assets are much more complex than a standard divorce. In a high-net-worth divorce, there is a lot at stake for both spouses. In order to uncover, divide and allocate the significant assets from the marriage, you are going to require a highly skilled Miami high-asset divorce attorney. They will ensure your best interests are fully represented.

If you obtain legal representation from one of our skilled attorneys, you have an advocate that understands the complexities involved in a case like this. Our law firm will work together with forensic accountants, tax law specialists, and asset evaluators to ensure that you get the fairest share of your marital assets.

As a family law firm, we prioritize mediation in all divorce cases. This allows for a steady progression in a productive manner. Even spouses that come to us convinced they cannot sit down and make progress together are often shocked by what they can achieve with skilled mediation. Your attorney will ensure that the discussions are productive, defusing tempers when they rise and ending discussions if they become unproductive at any point.

However, sometimes even mediation will not work, and when it becomes necessary, we are prepared to fight aggressively in court as your fierce advocate. We are as skilled in litigation as we are in mediation, meaning no matter what direction your case takes, we are ready.

Call us today to discuss your case at 305-916-4053.

How Can a Miami High Asset Divorce Attorney Help?

When you secure representation from our law firm, we will work to help you secure your future whilst protecting your privacy. Our team has access to numerous financial experts who can help you determine the true facts and we will ensure that the family assets and marital estate, including debts and investments, are accurately valued.

Our team has experience in fighting complex cases, both in the courtroom and out, meaning we are uniquely positioned to fight any high-net-worth divorce case.

Miami Family Law Group, PLLC - Defending Your Financial Interests in High Net Worth Divorce

The team here at Miami Family Law Group, PLLC, has experience in all aspects of a high-net-worth divorce, including

• Divorce proceedings
• Post-dissolution judgment enforcement
• Child support and spousal support arrangements
• Spousal support modifications
• Contempt proceedings if your ex-spouse is violating their court orders
• Other complex and difficult family disputes

We work with a range of financial professionals, from investigators that uncover hidden assets to forensic accountants and investment experts, who can accurately value long-term investments. We fight to protect your legal rights and your financial interests, paving the way for a bright new future.

As a family law firm, we understand the stresses that cases like this can place on your family, and we work to keep conflict to the minimum and maintain relationships. This is always in the best interests of all involved, especially if you have children in the marriage.

Providing Essential Property Protection

We know how important the outcome of a Miami high net-worth divorce is, especially when it comes to dividing property. We work tirelessly and employ negotiation and mediation wherever possible to ensure that our clients receive what is rightfully theirs. Where this is not possible, our team is comprised of skilled trial lawyers, and we are ready to litigate on your behalf.

The use of mediation and negotiation in high-asset divorces allows for a number of benefits, such as reducing the conflict between spouses, protecting the privacy of the couple, and providing a space where mutually beneficial interests can be reached.

Mediation and negotiation also allow us to keep the cost as low as possible, as it prevents court involvement. However, if one or both spouses refuse to cooperate, coming to reasonable and fair agreements through mediation may simply be impossible.

Division of Assets via Florida's Equitable Divisions Rules

There are a number of things to consider when it comes to the divisions of the high-value assets in a Miami high-net-worth divorce. It is important to remember that if you cannot come to amicable agreements with your spouse, you will need to turn to the courts to intervene. As the courts "must" divide the property in an equitable, fair way, the results may be in neither party's best interests. This is one of the reasons mediation is so valuable, as it leaves control of the process in the hands of both spouses.

This may be an even split between the two spouses, but it may not, and it will be down to the judge to decide what they believe to be fair and equitable.

When spouses own and operate a business together, the division can be a matter of contention. It can also be difficult to decide what is fair and reasonable if there are a number of income streams, investments, or physical assets, especially if there are no prenuptial or postnuptial contracts in place to give guidance.

Divorce involving substantial assets and property division will need to be examined with scrutiny as not all the assets owned by the individuals may be up for division. Only property obtained by either individual during the marriage will be up for division. There are also some exceptions, such as gifts of money, compensation payouts, and inheritance, that may be excluded.

Some of the assets that may or may not be up for division in high net-worth divorces include:

• Business interests
• Art collections
• Stock options
• Investments
• Jewelry
• Real estate holdings
• Vehicles and boats
• Retirement accounts
• Valuable furniture

If the court has been involved, their first step will be to determine what property and assets are opened by the spouses involved. They will then determine what was owned by each party before the marriage and what was obtained during the marriage.

The courts, at this point, will need to figure out a fair market value for things like the business assets owned. To do this, they will look at the value of the assets owned by the business, the potential future earnings, and the future evaluation of the business.

Because of the number and the value of the assets involved in a high net-worth divorce, there will be considerably more effort put into the evaluation compared to a normal divorce. This means your attorneys will need to draft in a number of financial experts to assist them with the assessments.

Your high net-worth divorce attorney will be responsible for:

• Completing a full and comprehensive evaluation of the assets and property holdings of each individual. This includes pensions, investments, retirement accounts, and real estate.
• Account for sacrifices made by either spouse. A common example is if one spouse has taken a step back from work or the business in order to look after children.

Investigation of Hidden Assets

Ensuring that all assets are accounted for is crucial when it comes to deciding upon things such as alimony and child support payments. When couples come to the negotiation table, they should ensure that they disclose all assets, but unfortunately, we regularly handle cases where spouses try to hide their assets.

There is a range of complex strategies that are used by individuals to conceal their assets from both their spouse and the court. Some of these assets may not be easy to discover and may not appear on financial statements as they are liquid assets such as bonds or offshore bank accounts.

One of the more common and complicated assets that have become popular in recent years is cryptocurrency. Due to the decentralized nature and anonymity provided by these currencies, it can be difficult to uncover the true value of an individual's holdings. However, with the help of the skilled investigators that we work with, there is a good chance we will uncover them, making them visible to the courts and de-crediting your spouse in their eyes.

When it comes to marital property and hidden assets, our team can help:

• Bring in investigators who can perform extensive research and investigations to discover assets that your spouse is attempting to hide. We can disclose unlawful expenditures and expose all income streams to the court.
• Ensure that your spouse is not moving funds to offshore accounts and hidden holdings.
• Discover evidence for hidden cryptocurrency accounts utilizing the help of forensic accounting.
• Bring in expert business evaluation teams that can accurately gauge the true value of the company.
• Speak to experts to appraise the worth of unique art, collectibles, and other goods such as gold, silver, and precious stones.
• Accurately value real estate portfolios and ensure they are divided in a fair manner.
• Establish what potential asset and debt dispositions may have tax implications.

Here at Miami Family Law Group, PLLC, our team will always work tirelessly to uncover hidden assets, whilst ensuring your privacy is maintained as much as possible. We will ensure you get the best possible results, results that give you and your family the best chance of moving into a bright new future with as little friction as possible.

Miami High Asset Divorce FAQ

How is spousal support awarded in Miami, FL, high net worth divorces?

In Miami, FL, spousal support is determined by considering each spouse's financial situation and the length of the marriage. Factors such as contributions to the marriage, marital lifestyle, and the ability of each party to be self-supporting are all taken into account.

Generally, in high net-worth cases, spousal support will be more substantial in amount and duration. The court considers the income of each party, earning capacity, age, health, the standard of living, and other factors to determine the amount of support to be awarded. In addition, the court may consider other factors such as the ability to pay, the tax consequences of the award, and the parties’ ability to maintain health insurance.

How do prenuptial agreements affect Miami, FL, high net-worth divorces?

Prenuptial agreements can have a significant impact on high net worth divorces in Miami, FL. These agreements can help to define the rights and obligations of each party in a divorce, including the division of assets, debts, alimony, and other financial matters.

In addition, prenuptial agreements can help protect the financial interests of each party, as well as protect their respective rights should the marriage end in divorce. With a prenuptial agreement in place, the parties involved can be better prepared for a high-net-worth divorce and avoid costly litigation.

How does child support guidelines change in a Miami, FL, high-net-worth divorce?

In a Miami, FL, high net worth divorce, child support guidelines can be adjusted to account for the increased financial resources and assets of the parties. Generally, the court will consider the standard child support guidelines, as well as the parties' financial resources and assets, when calculating the amount of child support to be paid.

The court may also consider the non-custodial parent's earning potential when determining the amount of child support to be paid. Additionally, if the parties are able to agree on a different amount of child support, the court may approve the agreement and make it part of the final divorce decree.

What assets are untouchable in a Miami, FL, high net-worth divorce?

In a high net worth divorce in Miami, FL, assets that are typically considered untouchable include:

• 1. Retirement accounts, such as IRAs, 401(k)s, and pension plans, which are protected by federal law.
• 2. Life insurance policies, which are protected by Florida law.
• 3. Certain trusts, which may include assets that are protected from creditors, taxes, and other claims.
• 4. Gifts and inheritances that were given to only one spouse, which are protected by Florida law.
• 5. Business interests, which can be protected by a variety of legal tools.
• 6. Pre-marital assets, which are protected by Florida law.
• 7. Separate property, which is any property that was acquired before marriage or by inheritance or gift during the marriage. 8. “Alimony” or spousal support payments, which are protected by federal law.

What common issues are associated with Miami, FL, high net worth divorce?

The most commonly associated issues with a Miami high net worth divorce are:

• Complex asset division: Miami is home to many high-net-worth individuals who have complex financial portfolios with investments, retirement accounts, stock options, business interests, and real estate. This can make it difficult to divide assets equitably in a divorce.
• Alimony/spousal support: Given the high cost of living in Miami, alimony/spousal support obligations can be particularly high due to the disparity in income levels between the two parties.
• Tax issues: Miami's high net-worth individuals often have complex tax strategies in place that must be carefully unwound in a divorce. This can result in significant tax implications for both parties.
• Privacy: Miami's wealthy residents often value their privacy, which can make it difficult when it comes to revealing financial information during the divorce process.

Is alimony always awarded in a high-net-worth divorce in Florida?

No, alimony is not always awarded in a high-net-worth divorce in Florida. The court will consider several factors when making a decision about alimony, such as the length of the marriage, the standard of living established during the marriage, each spouse's income, and each spouse's contributions to the marriage. Ultimately, the court will determine whether alimony is appropriate based on the individual facts of the case.

What qualifies as high net worth in Florida?

High net worth in Florida is generally considered to be an individual with a net worth of at least $1 million. However, this amount can vary depending on the specific financial and lifestyle goals of the individual.

How do Florida courts divide a business in a high-asset divorce?

Florida courts divide a business in a high-asset divorce by first determining whether the business is marital or non-marital property. If the business is considered marital property, the court must then determine the value of the business and the appropriate method for the equitable division of the business.

The court may require that the business be appraised to determine a value, or the court may divide the business based on the contributions of each spouse. If the court decides that the business should be sold, the court will divide the proceeds from the sale between the spouses. The court may also award the business to one spouse and require the other spouse to receive payment for their portion of the business.

When does adultery matter in a no-fault high net-worth divorce in Florida?

Adultery does not matter in a no-fault divorce in Florida. In a no-fault divorce, the grounds for the divorce are irreconcilable differences between the spouses. Therefore, the court does not consider any wrongdoing of either spouse, including adultery. In Florida, the court does not consider the fault of either spouse when determining alimony, division of assets, and other matters.

Is Florida a no-fault high net-worth divorce state?

Yes, Florida is a no-fault high net-worth divorce state. Under Florida law, a couple does not need to prove grounds for divorce, such as adultery or abandonment, to end their marriage. In addition, the state has laws that address the division of marital assets during a high net-worth divorce.

How We Can Help You in High Net Worth Divorce Cases?

Here at Miami Family Law Group, PLLC, we have worked on behalf of numerous high-net-worth individuals and their spouses. We have won favorable outcomes in numerous cases, working with investigators to uncover hidden assets, fighting in court for fair child support arrangements and ensuring alimony is awarded when it is reasonable.

Call us today to arrange an initial consultation at 305-916-4053.