Las Vegas High Net Worth Divorce Lawyers
Asset Protection For Complex High Net Worth Divorce in Nevada
Even the most basic divorce can still be a complex process, made more difficult by painful emotions and intense court proceedings. If high-value assets are also present, the situation only becomes that much harder. Businesses, multiple real estate holdings, investments: How will these assets be divided? Will you need to sell anything prior to the divorce? If the business is jointly owned, will you need to close its doors?
Ford & Friedman maintains a network of established experts and legal consultants who address these questions on a regular basis. When you work with our Henderson high net worth divorce attorneys, you work with our network, ensuring that your entire marital estate is properly scrutinized and evaluated during your divorce proceeding.
Place your high net worth divorce in trusted hands. Contact our offices today to schedule a confidential and no-obligation consultation with our team.
How is a High-Asset Divorce Different?
Although each divorce has its own set of obstacles, high-asset divorces tend to be more complex than most. When a couple shares a large number of properties or funds in their marriage, the division of those assets in a divorce can become complicated and may take longer to handle. If you have a large amount of individual or shared assets in your marriage, make sure you deal with your high-asset divorce correctly.
When you are facing a high-asset divorce, you must act to protect your properties and investments. In order to do this, it is important to always review any documents or agreements before assenting to anything. Even if your spouse and you are on good terms, it is important to act defensively and error on the side of caution. Rather than agreeing to anything immediately, have your attorney review and analyze any settlement offers or negotiations you receive.
To better guard your assets, consider hiring a financial investigator or other experts who specialize in recovering hidden assets. These types of specialists can help evaluate your financial situation, as well as that of your spouse, and can help disentangle complicated financial circumstances. If you have a large number of properties, investments, businesses, or funds, it is important that you ensure your own assets are protected. This can make asset property division negotiations much faster and simpler.
Is Nevada a Community Property State?
Nevada is a community property state. Under community property laws, all income earned and property acquired during a marriage is community property, meaning it belongs equally to both spouses. The only exceptions to this rule are items that are explicitly separate property such as gifts or inheritance.
The court splits community property equally (50/50) between spouses during a divorce. This includes both assets and liabilities.
It's important to note that separate property can transform into separate property over time. For example, let's say you buy a house on your own before you get married. Now, suppose your partner pays for an addition to the house after you get married. If the addition meaningfully increases the home's value, it may transform into community property since, at that point, both spouses have contributed to the property.
What Do Courts Consider in a Property Division Case?
Courts take a variety of factors into account when handling property division cases, including:
- The earning potential of both spouses,
- How other aspects of the divorce process (alimony, child support, etc.) may affect each spouse's earnings,
- How each spouse contributed to the marriage,
- Each spouse's future health and finances.
Courts have a large amount of leeway in property division cases, which is why it's so important to have an attorney who will fight for your rights. Having a good property division lawyer by your side is particularly vital in high-asset divorces, where property can be worth a significant amount, and the outcome of your property division dispute can have a considerable impact on your life and financial stability.
How Is Child Support Affected by a Complex Divorce?
Florida courts use a number of factors to determine child support, including:
- Each parent's net monthly income,
- Which parent is the custodial parent (who the child will spend a majority of their time with),
- How much money each parent needs to give the child a good quality of life (a child with a medical disability or expensive health insurance may require more support, for example),
- Whether a parent receives alimony or child support from a previous marriage or is already paying child support for a previous partner,
- Costs established during the marriage (like extracurricular activities or tutoring) and how much it will take to maintain those activities.
However, the court can be flexible in determining child support payments, and every child support case is different.
In high-asset divorces where the noncustodial parent is a high-net-worth individual, the court may ask that parent to pay more than the state guidelines would normally allow. Conversely, if the custodial parent has a high net-worth, the court may award them less child support to compensate for their high-earner status.
Ultimately, the court wants to establish an equitable child support arrangement that enables the child to maintain the same quality of life post-divorce they enjoyed while the parents were married.
Having a high net-worth can significantly impact your child support arrangement. You should work with a Henderson high net worth divorce lawyer who understands high-asset divorce to obtain an equitable child support arrangement that also supports your child's best interests.
Protect Your Assets With a Complex Divorce Lawyer
A divorce in Nevada involving high net worth individuals brings its own unique challenges, making it exponentially more complex than your standard divorce proceeding. The decisions being made involve significantly more preparation and strategy, especially regarding your finances.
Our Henderson high net worth divorce attorney is well-versed in the following requirements for a high net worth divorce:
- Tracing and documentation of separate property assets
- Independent valuation of business and real estate holdings
- Analysis of existing legal documents such as trusts and estate plans or nuptial agreements
- Analysis of all financial accounts, including investments and retirement plans
- Liquidation of certain assets
Our experienced Henderson high net worth divorce attorneys understand the variety of state and federal laws that may apply to these cases. Time and time again, we have proven that we can deliver the knowledge and skill required to navigate these divorces, particularly those that involve asset protection or uncovering assets that your spouse may be concealing from the court.
To take a proactive stance for your upcoming high net worth divorce, call us at (702) 904-9898 or contact us online today.
Our divorce attorneys will give you individualized attention and service. We will be personally invested in your case and in securing you the best outcome possible.
A Collaborative Approach
With us, you will benefit from having a team of attorneys behind your case. You will also be joining forces with legal advocates who work well with clients, developing relationships that outlast the case.
Our boutique law firm has handled a wide range of family cases, and we know full well that each client needs and deserves an individualized, sophisticated strategy for their specific case.
Our lawyers grew up here and are dedicated helping their local community. We are also familiar with local judges and courts and know how to successfully guide clients through the legal system.