8,000 millionaires call Saskatchewan home. If you’re one of them, and are getting a divorce, then you need help from high net worth divorce specialists. In fact, you may need this kind of help even if you boast a much lower net worth. Even those with $100,000 in assets or more tend to have highly complex portfolios that require real expertise to sort through once the divorce process begins.
Our team of high net worth divorce lawyers can help you meet your goals for your divorce. Are you attempting to retain control of your business? Protect your retirement account? Maintain control of a piece of real property? Whatever your goals, our team can help.
Are there alternatives to litigation in high net worth divorces?
Absolutely. In fact, The Globe and Mail advises staying out of court if at all possible. “You will lose control of the outcome, you will lose control of the process, and of course it’s going to be terribly expensive.”
One thing you should do is stay out of valuation battles, and avoid attempting to hide assets. Do your best to agree on an evaluator and use their assessments. Then go into the process with the mindset that you’re going to work towards a fair settlement.
Your lawyer can give you the best case and worst case scenarios that are most likely should you enter into litigation. In most cases you should aim for a settlement that’s somewhere between those two extremes.
How do I keep spousal support low?
In most cases spousal support gets calculated by a complex calculation that looks at both spouse’s disposable income, the length of the marriage, and about a dozen other factors.
Yet you don’t have to abide by any preset assessment if you are settling out of court. If you don’t want to write a cheque every month you could offer a lump sum payment, or offer a greater share of the assets.
The ability to match solutions to goals is one of the things that sets our lawyers apart. We can help you stay laser focused on the outcomes you want to accomplish while helping you craft solutions that will entice your spouse to go ahead and agree to the proposed settlement.
What is the normal divorce settlement for a high net worth couple?
While every divorce is different, the courts are going to want to see an equitable settlement. Once you and your spouse have agreed on what constitutes “marital property” you should expect those assets to be divided roughly 50/50. To preserve and protect more of your personal property, our team may help you classify some items as non-marital property where possible.
Equitable settlements can be impacted by the length of the marriage and the contribution each spouse made to the marriage as well. There is some room for negotiation, but you should not expect to keep everything while your spouse walks away with nothing, nor should you seek to “punish” your spouse. These just are not realistic expectations for your divorce.
Why Merchant Law?
Decades of family law, business law, and civil litigation experience make our team a superior choice for your high net worth divorce. We have the financial experience, the negotiation skills, and the litigation skills to help you succeed.
Call (306) 653-7777 to get started today.