Orlando High Net-Worth Divorce Lawyer
Florida attorney helps clients preserve their wealth when their marriage ends
Accumulating substantial wealth offers many rewards, but it can also make a divorce much more complicated. At Timothy W. Terry, Attorney at Law in Orlando, I am an experienced Florida attorney who has helped high net-worth clients manage the marriage dissolution process successfully. My firm provides strong advice and advocacy in matters relating to property division, alimony, child support and custody, with a particular focus on the special concerns that face spouses in high-income households.
What qualifies as a high net-worth divorce in Florida?
Though many people classify cases where the marital estate is valued at $1 million or more as high net-worth divorces, there is no exact definition for this term. Even couples with assets in the six figures might have complex legal needs typically associated with breakups involving wealthy spouses. My firm has extensive experience with these cases and can advise on critical issues that could affect you, such as the investigation of concealed assets, appraisal of real estate and valuable personal property, and the treatment of business ownership.
How is property division handled in a high net-worth divorce?
High net-worth couples usually have a wide range of assets that must be divided between them when their marriage ends, such as the following:
- The martial home, along with vacation and investment real estate properties
- Stocks, bonds and other investments
- Pension benefits and retirement assets, including IRAs and 401(k) accounts
- Full or partial ownership of a business
- Valuable art, antiques, jewelry and other types of personal property
To protect clients during negotiations over property division, my firm makes every legal effort to obtain accurate valuations of each significant asset and consult with experts if necessary to identify property that has been overlooked or hidden. Should you and your spouse fail to reach a settlement, I will deliver a persuasive, well-supported argument when the judge must make a decision based on Florida’s equitable distribution standard.
Alimony, child support and child custody considerations
Disputes over alimony and parenting issues can put a tremendous strain on divorcing spouses. Factors in spousal support determinations include the couple’s lifestyle and each party’s ability to support themselves. Spouses who have relied on their partner’s income while they took care of the home and children might seek substantial payments so they can maintain the standard of living to which they are accustomed. Child support and custody arrangements could create additional conflict. A parent obligated to pay child support may object to expenses such as private school education, costly summer camps and luxury vacations. Parenting plans require much more work if the schedule must accommodate multiple homes, extracurricular pursuits and frequent business travel. I work with clients one-on-one to gain a true understanding of their situation and work diligently to secure a divorce order that fairly reflects the circumstances.
Prenuptial and postnuptial agreements
If you’re concerned about the potential negative financial impact of a divorce, you can start taking preventative measures even before you get married. My firm negotiates prenuptial agreements for prospective spouses so that they can be assured of keeping the assets they brought into the marriage and avoiding overly harsh property division and alimony terms. These documents benefit both parties by prompting an open exchange of information and minimizing the likelihood of costly legal battles relating to financial issues associated with the end of a marriage. I also assist high net-worth spouses with the preparation of postnuptial agreements.
What role does forensic accounting play in high net-worth divorces?
Families with substantial wealth typically employ numerous methods of holding, investing and spending what they own. This makes it very difficult to gain the accurate perspective you need on financial matters to negotiate property division, child support and alimony terms. Accordingly, it is usually very worthwhile to retain a forensic accountant during a high net worth divorce. I work with these professionals to review the accuracy of financial documents, uncover hidden assets and assess whether a client’s spouse squandered marital funds.
Contact a Central Florida lawyer for a free consultation about your high-asset divorce
Timothy W. Terry, Attorney at Law represents Floridians in divorce proceedings involving high net-worth couples. To schedule a free consultation at my Orlando office, please call 407-495-2399 or contact me online.