High Net Worth Divorce Lawyer in West Palm
Dedicated to Professional ExcellenceOver 35 Years of Trial Experience
High Net Worth Divorce Lawyer in West Palm
In high asset/high net-worth divorce proceedings, it is important to receive representation from experienced and knowledgeable legal counsel. At the Lane Law Firm, P.A., we can properly advise you about the intricate financial, valuation and taxation issues that these proceedings entail.
We are experienced litigators and skilled negotiators, who tenaciously advocate on behalf of our clients, and protect their interests in a strategic, efficient, and cost-effective manner. Our law firm provides exceptional personal attention to our clients, and handles every matter with integrity, professionalism, and the utmost discretion.
We work with a network of experts including: forensic accountants, economists, business valuation experts, real estate appraisers, private investigators, pension evaluators, jewelry and art appraisers, actuaries, financial planners, vocational experts, and attorneys who practice in the areas of taxation, real estate, corporate law, and trusts and estates. Having qualified experts testifying on behalf of our clients, provides them with a critical advantage, and ensures that their financial interests are properly protected
High asset/high net-worth clients include business owners, executives, medical, legal and accounting professionals, public figures, professional athletes, entertainers, entrepreneurs, elected public officials, investment bankers, philanthropists, beneficiaries of inherited wealth, and their spouses.
Our law firm represents clients on all issues incident to the dissolution of marriage, including the identification, valuation and division of: business interests, real estate, intellectual property, investment accounts, professional practices, inherited wealth, executive compensation, deferred compensation, trusts, collectibles, antiques, art, jewelry, wine collections, classic automobiles, private jets, overseas accounts, and tax shelters.
Florida Law Concerning Distribution of Assets
In allocating assets, Florida courts make the following distinctions:
I. Marital assets and liabilities include:
a. assets acquired and liabilities incurred during the course of the marriage
b. the appreciation in value of nonmarital assets that result from either party’s efforts during the course of the marriage, or the contribution of marital funds
c. gifts exchanged during the course of the marriage
d. rights in deferred compensation, pension, retirement, profit-sharing, insurance, and annuity plans that are accrued during the course of the marriage
e. all property held by the parties as tenants by the entireties is presumed to be a marital asset (subject to proof to the contrary by a party asserting an opposing claim)
II. Nonmarital assets and liabilities include:
a. assets that are acquired and liabilities that are incurred prior to the date of marriage, and assets that are acquired and liabilities that are incurred in exchange for these assets and liabilities
b. assets that are acquired by either party by non-interspousal gift, devise, bequest, or decent, and assets that are acquired in exchange for these assets;
c. income that is derived from nonmarital assets during the course of the marriage, unless this income was treated, utilized or relied upon as a marital asset
d. assets and liabilities that are excluded from the marital estate by valid, written prenuptial or postnuptial agreement, and all assets and liabilities exchanged therefore
e. liabilities incurred by forgery or unauthorized signature, where one party signs the name of the other
Contact a Palm Beach County High-Asset Divorce Lawyer
Call our office at: (561) 363-3400, or contact us online, to schedule an initial consultation with a high asset/high net-worth divorce attorney. Our offices are conveniently located in Palm Beach Gardens, Wellington, West Palm Beach and Boca Raton, Florida.
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High Asset / High Net-Worth Divorce - FAQs
High-asset/high net-worth divorces in Florida required knowledgeable and experienced legal counsel. In Florida, these cases require detailed planning in order to divide complex assets. Here are some commonly asked questions about how Florida law applies in such divorces:
High-asset/high net-worth divorces involve complex financial matters, including the division of real estate, businesses, investments, retirement accounts, and valuable personal property.
These divorces involve nuanced asset identification and valuation. The legal process must address the complexity of dividing property under Florida’s equitable distribution rules. Such cases demand careful handling in order to protect your financial interests.
Florida law uses equitable distribution to divide property fairly but not necessarily equally. HB 521, effective July 1, 2024, clarifies what counts as marital property. Marital assets include those acquired during the marriage, regardless of whose name is on the title. Non-marital assets are those owned before marriage or received as gifts or inheritance.
Under HB 521, only the portion of retirement accounts earned during the marriage is marital property. Increases in value of separate assets, like businesses, due to efforts by either spouse during the marriage, may also be divided. Joint debts are treated as marital liabilities.
Alimony in high-asset divorces considers several factors. Courts look at each party’s need and ability to pay and the marriage’s length and standard of living. They assess each spouse’s income, resources, and earning potential. In these cases, the goal often includes maintaining a similar lifestyle for the lower-earning spouse after divorce. These cases require detailed financial records and expert testimony on spending patterns.
Florida offers various types of alimony, such as bridge-the-gap, rehabilitation, and durational alimony. Accurate financial documentation is vital to reach appropriate support arrangements.
For more information or to schedule a consultation, please contact us. We serve clients in West Palm Beach, Wellington, and Palm Beach Gardens, Florida.
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