Need top notch family lawyers for your high net worth divorce? The team at Merchant Law Calgary Bowness has over 20 years of experience managing some of Alberta’s most complex divorces.
We know how much is at stake, and we work hard to ensure that you get the best possible deal as you dissolve your marriage. We protect your best interests and come prepared with sophisticated solutions to all of the major issues of your divorce.
Calgary Bowness High Net Worth Property Division
You and your spouse each have a 50% right to the marital property. Marital property is defined as all property that is acquired during the course of a marriage. This includes the family home, bank accounts, retirement accounts and pensions, boats an RVs, real estate, investment portfolios, businesses, and valuable collectables.
Exempt property includes insurance proceeds, personal injury lawsuit proceeds, property owned prior to the marriage, inheritances, and assets gifted by a third party other than your spouse. It sometimes takes a great deal of legal worth and proof to demonstrate that a property counts as exempt property, however. You have to be able to trace the origins of any property you want to exempt.
In addition, only the starting value of certain property is exempt. For example, if you had an investment account prior to getting married only the initial value of that account is exempt. Any money earned since you got married is still up for grabs.
Note that there are cases we can make that can help demonstrate that a 50/50 division of property might be unfair. For example, if your spouse vastly devalues a piece of property after the separation then you might have a good case for why you should receive a greater share. You might also have a case if your marriage was very short, or if your own actions greatly increased the value of a piece of property after the separation.
We will work closely with you to ensure that you get the best possible deal. We will also work hard to ensure that we retain the value of your property.
Dividing a business or an investment account incorrectly could make it lose a great deal of value, which is why we work on alternate arrangements. We also work hard to help you keep control of the property that matters most to you.
If you suspect your spouse is hiding assets to try to cheat you out of your fair share you can rest easy knowing we will hire forensic accountants to track down every last penny.
Finally, we work closely with your financial planners and tax professionals to ensure that you will not be overly disadvantaged by the division of property at tax time.
Calgary Bowness High Net Worth Spousal Support
Spousal support in a high net worth divorce can amount to thousands of dollars every month. This means it can be one of the most contentious issues in such cases.
We have experience representing both the higher earner and the lower earner in these cases. If you wish to minimize the amount of support you’re paying we do have strategies to help with that. If you wish to maximize the amount you receive, we can help with that, too.
Spousal support usually requires an in-depth negotiation between both parties. There are no federal standards that are backed by law, only guidelines that are used as a starting point in most cases. There are many solutions that we can offer, and many of them leave both parties happier than they would have been had they let a judge make all the decisions. Ask us to go over your options today.
We can also help with spousal support modifications and extensions, where necessary.
Calgary Bowness High Net Worth Child Support
There is a lot more room to negotiate child support in a high net worth divorce. Many high net worth individuals don’t have a clear cut income the same way a middle class person does. In addition, the Federal Child Support Guidelines allow for variances past an $150,000 income threshold.
High net worth children are also more likely to have special expenses, such as private school.
We know most parents want to see to it that their children are cared for and have every possible advantage. We can help you navigate these negotiations so that you have a child support arrangement that works well for you and your family.
We can also help with child support modifications and extensions, where necessary.
Calgary Bowness High Net Worth Child Custody
Earning power does not give either parent a custody advantage in Alberta. Instead, courts vastly prefer for the parents to adopt joint custody arrangements wherever and whenever possible. There are exceptions, such as when the parents live a great distance from one another or when there are issues of abuse, neglect, alcoholism, criminality, or drug use.
We help you protect your children’s best interests. We’re highly adept at ensuring that co-parenting agreements and custody orders address all of the issues that can arise between parents in the future.
Get Help Today
Our lawyers have 20+ years of experience navigating high net worth divorces. We’ve helped thousands of Calgary Bowness couples dissolve their marriages. Many of our lawyers have a background in both real estate law and business law as well, which gives us a broader base of solutions to draw from and sets us apart from other family lawyers in the Calgary Bowness area.
We offer sophisticated solutions for cattle ranchers, oil and gas executives, farmers, entrepreneurs, and other high net worth individuals address the major issues of their divorces. We have sophisticated solutions for complex asset profiles, and can help you achieve goals such as maintaining control of your business, keeping your ranch in tact, avoiding untenable child and spousal support amounts, and more.
Get help by scheduling your first appointment today. Call (403) 237-7777 now.