High Net Worth Spousal Maintenance Lawyers Bainbridge, WA
High net worth divorces can be especially lengthy and stressful and that is why high net worth spousal maintenance lawyers in Bainbridge, WA, are often a great asset in helping you through the process. These kinds of divorces may involve multiple pieces of real estate, retirement accounts, bank accounts, business interests, stocks, and other assets. If you or your partner has substantial assets, then you have a lot at stake. This means considering a lawyer who understands the challenging situation you face is so important.
A lawyer can help you through this process and beeps will carefully guide you to help you protect your interests at each step.
Pursuing a High Net Worth Divorce
Washington is a community property state, which means assets and debts acquired during the marriage will need to be divided based on being fair. This means the courts will usually divide community property equally, but it has to split the property according to principles of fairness. This means that if a 50-50 distribution would put one spouse in a significantly worse position than the other, the court may make an award that is unequal, so the distribution is fair and equitable.
There are often additional variables that are for in high net worth divorces. The wealth in these divorces can be connected to a business, or business interests in the business itself may be community property. When the business itself is community property, it may be an asset that must be divided during the divorce. That is when the fair market value of the business has to be determined, but if it was created before the marriage, it may be necessary to determine how the assets should be divided.
This is when experts are called in to evaluate and appraise a business which includes its goodwill and its assets. They can also offer options related to accounting, finances, or other tax-related matters. These experts, known as frantic accountants, may also be able to trace the sources of funds used to gain assets and then offer opinions about whether the business is community or separate property.
Broader discovery may be necessary and high net worth divorces in order to make sure that the experts have all the information they need to make informed appraisals of the assets. If any assets are located abroad or in other states that a lawyer is going to be necessary to help you understand the tax implications and the possibility of other countries’ or other states’ laws that have an impact on the property division. Tax issues require particular attention and high net worth divorces because the way property is distributed may have a significant impact on each spouse’s tax burdens after the divorce. Failing to pay attention to tax locations can cost one or both parties have neutral funds and could and in trouble with the IRS.
High Net Worth Spousal Maintenance Lawyers Bainbridge, WA
Spousal maintenance, or alimony, are payments that a spouse must make to their spouse in a divorce proceeding. A court may demand that one spouse has to make spousal payments in certain circumstances, such as if one spouse makes much more than the other. When you and your spouse have high-value assets, your case may be even more complex. Set up a call from a lawyer if you have concerns about spousal maintenance. They will ensure that you are paying or being paid a fair amount, and you do not experience financial issues following your divorce.
Washington’s alimony laws depends on your situation, as high net-worth spousal maintenance lawyers in Bainbridge, WA can explain. Alimony is to ensure that a spouse has enough financial assistance to ensure that their basic needs are met. The amount of alimony given to a spouse depends on factors such as the length of a marriage and their net income. Talk to a lawyer to learn how these laws apply to your divorce case.
Alimony and Child Support
If you and your spouse have a child or children together, that is also taken into consideration when alimony is involved. Your payments go towards your child’s food, housing, schooling, and other basic needs. If there is an income disparity, that is also taken into account. For example, you may have to pay significantly more in spousal maintenance costs if you make more income than your spouse who is the custodial parent. With a lawyer at your side, they will examine the laws and fight to make sure that they are applied fairly in a way that does not violate your legal rights.
Why Speak With a Divorce Lawyer
When alimony is involved in your divorce, you will want to speak to a lawyer to ensure that you are paying or receiving a fair amount. They will look at your assets and financial situation to make sure that you are not being underpaid or are overpaid. If there are any issues that need to be resolved, a qualified divorce lawyer is prepared to offer their specialized legal assistance.
Receive Legal Assistance Now
If you are dealing with a high stakes divorce involving alimony, there is legal help available. Don’t wait to take action if you are going through a high-stakes divorce. To learn more about receiving a consultation, schedule a risk-free appointment with a top-rated and highly qualified high net-worth spousal maintenance lawyer in Bainbridge, Washington today to receive urgent assistance.
If you have more questions about what high net worth spousal maintenance lawyers in Bainbridge, WA, do, then don’t hesitate to reach out to our team at Robinson & Hadeed today.
