High Net-Worth Divorce Lawyer in Florida

Protecting Your Assets in a Florida High Net-Worth Divorce

If you have spent your entire life toward developing a successful business or professional practice, as well as acquiring high net assets, the divorce process can result in substantial loss of the wealth you have worked so hard to build.

At the Law Office of Russell S. Hershkowitz, LLC, we understand the complexities involved in high net worth divorces in Florida. With over 30 years of legal experience, our Altamonte Springs high net worth divorce lawyer possesses a comprehensive knowledge of the state family laws to guide you through the intricacies of the legal process.

Property Division in High-Asset Divorce

One of the difficult issues in a divorce which involve couples with high net worth is that they often share business assets, professional accounts, multiple properties, and even professional practices. Careful consideration is necessary to determine what property is considered separate or marital, which is why we work closely with professional experts – such as economists and forensic accountants – to calculate income, value assets, and determine the tax consequences and other financial concerns.

Couples going through a divorce will eventually need to decide how to complete property division in order for the divorce to move forward. In Florida, equitable distribution rules are used to split up marital property fairly, not necessarily equal. For many divorcees, property division is not too large of a hurdle, for they do not share many marital assets. However, for couples that own large amounts of property, finances, and other assets, they might find themselves in the middle of a high net worth divorce.

• High asset divorce typically involves the following:
• Businesses/partnerships
• Investments, stocks, and stock options
• Properties and real estate holdings
• Retirement plans, 401(k)s, and pensions
• Prenuptial or postnuptial agreements

Your Prized Possessions Should Remain Yours

There is no absolute legal definition of a high net worth divorce based on an empirical value of property worth. Instead, it is a term used when there are highly valued or complex assets to consider for division. Essentially, if a family lawyer calls your divorce high asset, it is a red flag to pay close attention to the proceedings because things might get complicated and you might stand to lose considerably if things go wrong.

Within a high net worth divorce, important assets that may be dividing include:

• Businesses: Any business owner that did not maintain sole control over their company will go through a high net worth or high asset divorce if their marriage ends. Deciding who keeps the reins in the business can become the centerpiece of the divorce. It might be worth trying to trade other assets, like homeownership in exchange for business ownership, in your high net worth divorce.
• Real property: Pieces of real estate tend to have big dollar values that do not diminish over time. For your high asset divorce, you must consider the value of your home or commercial property now, and what it could be in the future.
• Retirement plans: Choosing how to split a retirement plan, 401(k), or pension can be an area of heated contention in your divorce. Most people do not want to split their retirement money, having technically earned it alone through their own efforts. Yet, such funds are considered marital assets more often than not under Florida’s equitable distribution rules.
• Stocks and investments: Money tucked away in stocks, investments, and other financial options is not immune to marital asset division. For your high net worth divorce, let your attorney know if you suspect your spouse has not disclosed all of their finances that might currently be wrapped up in stocks. They can assist with the process of discovery.

Keep Your Best Interests Protected with Our Help

The Law Offices of Russell S. Hershkowitz, L.L.C. is here to help you with your high net worth divorce. The priority of our Altamonte Springs divorce lawyer is keeping as much of your assets on your side of the divorce as possible by carefully navigating the equitable distribution laws of Florida. We can also discuss drafting a prenuptial agreement if you control many assets and are thinking about getting married.

Contact Our Florida High Asset Divorce Lawyer Today

If you are concerned about protecting your financial assets and interests in a high net worth divorce in Florida, our Altamonte Springs high asset divorce attorney is ready to pursue the most favorable outcome possible. Do not risk going through this complicated divorce process without experienced and skilled legal representation.

Contact us and request a free consultation today.