If your total net worth is greater than $100,000 then you’ll have special needs as you pursue your divorce case. Your family lawyers have to be well-versed in finance and business to help you sort through potentially complex asset profiles.
High net worth divorces often have challenges in the realms of asset division and spousal support that more conventional divorces do not. Our team has the experience and background to help you solve those challenges.
Why do you need a high net worth divorce specialist?
There are many reasons why it’s necessary to have a specialist. The first is that there is often a great deal of property that requires valuation, such as businesses or real property. Many of our clients have out-of-province assets, or assets that are even in other countries.
The stakes are higher when clients start talking about child support and alimony as well.
It’s not uncommon for these divorces to turn contentious quickly. In addition, unless settlements are deftly crafted and proposed certain assets may be devalued by the division, or cause significant tax consequences.
Does British Columbia have special rules governing high net worth divorces?
Yes. For example, an income over $150,000 may provide an argument for a spouse to request more child support than is allowed for by the Federal Child Support Guidelines. An income over $350,000 may be grounds for a departure from the spousal support guidelines.
A departure from guidelines favors the payee and can penalize the payor. A high net worth divorce lawyer can help protect interests on either side of the conversation and can ensure the eventual settlement is livable for both parties.
At times, large assets can call for creative solutions on the part of the lawyers attempting to help the couple. They allow for more flexibility when structuring settlements.
Is it still possible for high net worth couples to pursue a collaborative divorce?
Absolutely, and committing to making the settlement process as amiable as possible is often a key to ensuring the divorce process remains cost-effective. Couples who choose to treat the split like a business decision will come out ahead.
Pushing a high net worth divorce case into litigation can have unpredictable effects for both parties.
Why Choose Merchant Law?
Our family law team has decades of combined experience handling high net worth divorces like yours. We have the finance and business background to understand the complexities involved with managing and handling these asset profiles. We pay attention to issues like tax planning and estate planning as we work on crafting a divorce settlement you can live with.
We take cases to trial when necessary to achieve the result needed and where a negotiated settlement is not in the cards. This happens in divorce cases frequently due to the emotions that get caught up in the process. We will always fight for justice for our clients including taking the case to a full trial. We proudly count amongst our ranks E.F. Anthony Merchant Q.C. who is one of the best known trial lawyers in the country and has decades of divorce trial experience. Mr. Merchant was a one time editor of the Carswell Reports of Family Law, he was a member of the Canadian Advisory Board of Family Law and was a past member also of the Advisory Board of the Family Law Journal.
Every member of our team is also a skilled litigator, which will be helpful should you have to take your case into court, and in appropriate cases all the way to trial. We have you covered!
To get started, set an appointment with one of our experienced lawyers. Call (604) 609-7777 to get started.