High Net Worth Divorce Lawyers
What is a High Net Worth Divorce?
When a couple whose combined assets and income is considered significant get a divorce, it is categorized as a “high net worth divorce.” Divorce always comes with financial risk and when you are dealing with high net worth divorce settlements, that risk becomes greater.
Vancouver is home to a large number of highly wealthy individuals, which is why our high-net-worth divorce lawyers are here to help. Our lawyers have experience dealing with the complicated issues that can arise when high-net-worth individuals seek a divorce.
To talk to one of our experienced lawyers about your situation, fill out our contact form.
In instances where couples are considered to have ultra high net worth due to exceedingly valuable assets including property both inside and outside of British Columbia, corporate assets, and/or real estate holdings, this is typically very complicated and can take a longer time to resolve.
It can be useful for very high net worth individuals to hire a forensic accountant (an accountant who specializes in unearthing embezzlement or fraud and in analyzing financial information for use in legal proceedings) in the event of a divorce. This can be particularly useful if one party suspects the other of attempting to hide assets in order to gain a financial advantage during the divorce.
In a high net worth divorce, the task of even determining the couples’ total wealth can be quite difficult, given that it often includes assets in various forms. On top of straightforward income in the form of a paycheque, assets such as the following must be considered and valuated:
- International holdings
- Executive bonus packages
- Stock options
- Vehicles including cars, boats, and planes
- Retirement accounts
- Art pieces
Depending on the nature of your financial situation, you may need industry-specific experts to determine the value of certain assets.
People with a high level of wealth often have complicated assets and require a divorce lawyer who understands how to deal with such situations. Our lawyers have extensive experience working on high net worth divorce cases. See some of our past cases.
How Can a Lawyer Help?
Matters that a high net worth divorce lawyer can assist you with include:
- Reducing tax obligations created by spousal/child support or asset division
- Capping spousal support
- Implementing tax advantages for spousal or child support payments
- Decreasing litigation costs and time spent on litigation
- Protecting your reputation
- Identifying matrimonial and non-matrimonial assets
- Identifying any undeclared or underreported income
- Reviewing of any existing prenuptial agreements carefully and thoroughly
- Accurate appraisal and valuation of individual assets
Choose GK Thomas and Associates
Whether you are responding to a divorce petition, initiating one, or jointly filing for an uncontested divorce, our experienced family lawyers at GK Thomas and Associates know how to make sure that your high net worth divorce goes as smoothly as possible.