High Net Worth Divorce Lawyer in Auburn
If the spouses in a divorce are high net worth individuals, it is important to have an experienced attorney who has an in-depth understanding of the law as well as comprehends the unique concerns and issues that must be addressed. The Alsobrook Law Group has extensive knowledge of the complicated issues are involved with high asset divorces. And we work closely with our clients, taking the time to listen and understand their unique needs, so we can develop the practical and effective legal solution.
Our Auburn, AL attorneys offer comprehensive family law services to high net worth individuals and their partners. Besides traditional issues such as property division and child custody, we also understand the requirement for proactive strategies for managing reputation, privacy, and similar matters.
Assessing Asset Value and Distributing Real Estate, Other Investments, and Physical Assets
Our legal team can enlist the help of forensic accountants and other specialists to ensure fair valuation for all marital assets and the other partner does not stow away assets to hide them from you. Asset valuation is a complex process for high net worth couples as their property includes many assets with a substantial face value, which may also create significant additional value in the future.
We have a robust network of forensic accountants who can help assess marital financial holdings’ value and help determine whether a property should be deemed marital or separate. Other specialists, such as real estate experts, business experts, and financial experts, can also help this process.
In high net worth divorces, there is a division of various tangible and intangible assets. Such assets might include commercial and residential real estate, automobiles, machinery, boats, yachts, airplanes, watches, fine art, jewelry, bonds, stocks, and valuable antiques. With that said, we can work with skilled appraisers to use the correct valuation method for any tangible assets, such as the cost or market value method, which is most suitable for the type of asset in question.
How can Net Worth Affect Child Support Payments in Auburn?
Child support payments might provide much more than basic care and feeding of the children in high net worth divorces. In case the combined total incomes of the spouses are above $240,000 per year ($20,000 per month), the standard AL child support guidelines are not applicable, and the court must calculate child support on the basis of what it deems to be the children’s reasonable requirements and determine each parent’s appropriate contribution.
For instance, wealthy parents might want to send kids to an expensive private school or abroad for studies. Also, they may have full-time or part-time childcare, send children to summer camp, or enroll them in costly extracurricular pursuits. In deciding how much child support to seek, all of the factors mentioned above might be essential.
Our Auburn high net-worth divorce lawyers are well-equipped to offer you skilled representation in such matters.
What does Alimony or Spousal Support Include in a High Asset Alabama Divorce?
In determining what “standard of living” each party should maintain after the divorce, the court has significant leeway. To assess how much spouses require, it is crucial to create an exhaustive list of expenses to ensure that they are not surprised by additional costs once the alimony payments are determined.
Also, it is important to consider costs that are not always apparent, such as inflation and other future costs. For instance, both parties might have been on the medical insurance of one partner’s employer. Following the divorce, the non-working spouse might have to pay costly premiums through COBRA or find a cheaper private plan that does not fully cover the health care or has high out-of-pocket expenses. To protect your rights on spousal support, you need the legal guidance of our high net worth divorce lawyers in Auburn, AL.
Calculating Business Value and Protecting Business Interests
Individuals who run small enterprises or have a professional practice such as an accountant, doctor, attorney, or other licensed professionals typically want to continue their practice after the divorce. In order to achieve this end, our high asset Auburn lawyers can help business owners and professionals take specific measures to protect their business.
Determining an accurate value for the business is equally important. At Alsobrook Law Group, we can engage expert business evaluators and forensic accounts to assess tax returns, investigate business assets, and calculate business value.
Intellectual property (IP) is another important element of enterprises and professional practices. However, it is easy to overlook this aspect, which includes intangible assets such as copyrights, trademarks, trade secrets, software, and patents, which might be difficult to identify and value. Even with these challenges, IP might be one of the most crucial assets to protect or pursue in a divorce case as this property might retain substantial financial value.
Our lawyers can use these facets to develop a plan to protect the business and fight for your interests.
Strong Representation for Resolving Challenging High Net Worth Divorce Cases
The division of marital assets is one of the main concerns in most Auburn high net worth cases. These estates often involve privately held enterprises, complex executive compensation packages, and extensive personal assets. At Alsobrook Law Group, we are adept in handling multimillion-dollar marital estates, and we use proven strategies to protect our clients’ best interests.
We are experienced in managing all aspects of a high-asset divorce, and you can count on us to provide robust, goal-oriented representation necessary to protect your rights. We are skilled in asset protection strategy development and resolving conflicts in a way that is most beneficial to our clients.
In many high asset divorce cases, one of the goals is to preserve the value of a business or practice. We understand the perspective of enterprise owners, doctors, executives, and other providers during a divorce to be creative with solutions and protect assets when possible.
We are able to meet this challenge by leveraging our extensive experience with complicated divorce matters and engaging a network of experts who can offer effective testimony appraising companies, professional practices, collectibles, art, and commercial and residential real estate.
Our Auburn legal team has handled countless high net worth divorce cases. We take the case to the courtroom if necessary, but we will do everything possible to negotiate a workable settlement that is in keeping with our client’s best interests. To schedule an appointment with one of our attorneys, message us online or call our office today at (334) 737-3718.