Family LawHigh Net-Worth Separation

High Net-Worth Divorces - Challenges and Solutions

Family Law - High Net-Worth Separation

High Net-Worth Separation & Divorces

Child support and spousal support in high net-worth situations can often present unique challenges. This is particularly true when parties are self-employed, or have intricate financial landscapes involving corporate income, benefits, or tax deductions that may impact their reported income. Similarly, property division for high net-worth clients often necessitates a nuanced understanding of business valuations, corporate structures, and vested third-party interests. 

Confidentiality Concerns

Moreover, many clients have concerns about confidentiality and disclosure of sensitive information. This may be because they are well-known personalities or because their businesses depend on industry and trade secrets.

Privacy and Out-of-Court Settlements

We recognize the unique sensitivities involved in high net-worth separations and divorces, including the importance of preserving your privacy. That is why we advocate for out-of-court settlements whenever possible. Our team of family lawyers are not only skilled in negotiation but have a track record of securing favourable settlements that protect your assets and your privacy. In addition, we are experienced in supporting clients through mediation, and some of our lawyers also serve as mediators, offering you a multifaceted approach to conflict resolution.

Furthermore, we believe that arbitration can be an efficient way to achieve results. In the arbitration process, a family lawyer is retained to act as a judge and has the authority under the Arbitration Act to make a binding decision.

Arbitration is private and confidential and it can be structured in any way that meets the needs of the parties. Sometimes arbitration is conducted by way of affidavit evidence and sometimes it is a mirror of the family court process. Either way, results can usually be obtained faster in arbitration than at trial due to the very long delays in the court system. In addition, arbitration can be structured as a mediation/arbitration in which the parties first attempt mediation but if that process is not successful the mediator becomes the arbitrator and is able to make a decision.

Our Team Approach to High Net-Worth Cases

We respond to these issues in high net-worth divorces by employing a team approach, whereby various aspects of the file can be handled by different lawyers. One lawyer may assist in discovery of all documentation pertaining to assets, debts and income. Another lawyer may assist in retaining and consulting with experts on business valuations or forensic accounting. Child custody and parenting time, including any expert reports, may be managed by another lawyer. Each member of the team will meet on a weekly basis to update each other on their progress and to plan for the best strategy to move the file forward.

For a FREE initial consultation on high-net worth separation, please reach out to us.

Contact Us to Learn More

Navigating a high net-worth separation requires strategic planning to protect and fairly distribute assets. Learn about the multifaceted approach involving legal agreements, professional valuations, and collaborative efforts with financial experts. Discover the importance of detailed documentation, understanding provincial legislation, and considering estate and tax implications.

Discover how specialized family law professionals in Alberta and British Columbia handle high net-worth separations. These cases, often characterized by significant assets, complex property divisions, and high-income scenarios, require experienced lawyers skilled in managing intricate financial and legal intricacies.

Navigating high-net-worth separations requires a nuanced understanding of asset division, particularly in Alberta and British Columbia. These cases often involve complex assets like businesses, real estate, and investment portfolios. The key is equitable division, but this varies based on the asset's nature and complexity.

When dealing with incomes over $350,000, the complexities intensify, requiring a nuanced, case-by-case approach. Learn how courts adapt the Federal Child Support Guidelines and Spousal Support Advisory Guidelines to fit the unique circumstances of high net-worth families, considering factors like diversified income streams and the child's specific needs.

High Net-Worth Separation

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