A divorce can be especially challenging for affluent couples. When a couple has substantial holdings, the asset division process may require additional time and could become contentious.
In these situations, working with our Frederick high-asset divorce lawyers at Rolle & DeLorenzo may help you navigate the legal nuances and tax implications of property division. Our divorce attorneys are skilled negotiators and experienced litigators who capably handle both amicable and high-conflict divorces.
A divorcing couple must divide their marital property fairly. Marital property is anything either spouse acquired during the marriage, except for inheritances and gifts. Property you owned before marriage usually remains your separate property, although in some circumstances, your spouse may gain an interest in it.
An equitable division does not need to be equal. Maryland Code § 8-205 directs judges to consider numerous factors when deciding on a fair division of property, including the:
The judge can also consider the reason for the divorce when making property division decisions.
If you and your spouse have a prenuptial agreement, often called a prenup, it can simplify property division. However, if there are irregularities in the contract’s execution, or if honoring the prenup would result in a shockingly unfair result, a court may consider setting it aside. Our divorce and asset attorneys in Frederick will review your prenup and advise if it is vulnerable to challenge in a high-net-worth case.
If you and your co-parent both provide a suitable and safe home for your children, your relative financial positions are not relevant to custody and visitation. The court always makes these decisions with a focus on the children’s best interests.
Published child support guidelines determine the base child support amount for most couples. However, these guidelines do not address situations in which a couple’s combined adjusted gross income exceeds $30,000 per month. Depending on your family’s pre-divorce lifestyle, child support payments can include additional expenses such as:
Judges strive to maintain the children’s standard of living following a divorce and will adjust child support if appropriate. The existence of children can influence which parent retains the family home, since the court often prefers outcomes that minimize disruption for children. Our Frederick high-net-worth divorce lawyers will advise you about how your current living situation and lifestyle could impact the child support obligation.
Negotiating the property division aspect of your divorce can provide many advantages compared to leaving it for a judge to decide. Negotiated agreements usually involve fewer expenses, allow for a quicker resolution, and offer more privacy.
Many high-net-worth couples turn to mediation to help them reach a fair property settlement. A neutral third party can help keep the discussions focused and constructive. At our firm, a Frederick attorney familiar with high-asset divorce matters will help you understand the financial and tax implications of each decision.
Formal mediation does not suit every couple. If mediation is not effective or appropriate, we will negotiate with your spouse’s legal representative to try to reach a fair property settlement. If direct negotiations do not produce an acceptable outcome, presenting your case at trial remains an available option.
Divorce involves significant considerations when you have considerable wealth. This process requires a divorce attorney with a sophisticated understanding of financial issues and family law. Our Frederick high-asset divorce lawyers at Rolle & DeLorenzo have the knowledge and experience to help protect your interests. Please reach out to us if you are ready to discuss your case.
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