Salisbury High-Net Worth Divorce Lawyer

Salisbury High-Net Worth Divorce Attorney

When couples with a high net worth or high incomes divorce, they face unique challenges. These divorces can be contentious and emotionally difficult to navigate. High-asset divorces require detailed methods for separating assets. A Salisbury high-net-worth divorce lawyer can provide the customized attention necessary in these divorce cases by giving you the confidence you need to take the next steps forward.

Hire a High-Net-Worth Divorce Lawyer

Lancaster and St. Louis, PLLC, divorce attorneys, tailor our legal services to meet the unique needs of high-earning couples in divorce. Our clients benefit from the 15 years of experience we have in negotiating terms for high-net-worth divorce cases. When you partner with our law firm, you work directly with a knowledgeable Salisbury divorce lawyer, and together, we can carefully build a case that protects your interests.

It is vital to have legal representation in your case by a Salisbury divorce lawyer who understands North Carolina high-net-worth divorce laws. When you hire a high-net-worth divorce lawyer who is well-versed in these laws, in some cases, it can contribute to a more favorable resolution in your divorce.

Special Considerations in High-Net Worth Divorce Cases

Couples who earn high incomes and share high-value marital property are often met with distinct obstacles when divorcing. Having an experienced Salisbury high-net-worth divorce attorney who understands this is essential to a fair and effective divorce. Some aspects of high net worth divorce to consider include:

• Complicated asset portfolios. High-net-worth divorces often come with complex, intermingled assets. In many cases, assets are difficult to value. Examples of complicated assets include businesses, real estate properties, professional practices, cars, stocks, valuable collections, and more. Dividing these types of assets can be contentious and difficult.
• Tax matters. Certain tax implications must be considered when dividing assets in high-net-worth divorce cases. Working with a law firm that is skilled in asset planning and familiar with high-net-worth divorce laws can be beneficial when planning for the tax implications of property division.
• Privacy concerns. Oftentimes, high-net-worth divorce cases are privy to the public eye. However, most individuals involved in these types of cases prefer to keep the financial and personal details of their divorce private. A Salisbury high-net-worth divorce attorney can recommend ways, such as North Carolina mediation, to keep a divorce private.
• Hidden assets. The stakes may be higher in a high-asset divorce, leading one spouse to attempt to hide assets. Methods such as transferring money into another account or putting a large sum of money into a large purchase are commonly used to attempt to hide assets.

Taking care when addressing these considerations of high-net-worth divorce cases can simplify the process. A Salisbury high-net-worth divorce lawyer is an ideal resource for anyone facing these or other concerns.

Common Areas of Contention in High-Net-Worth Divorce Cases

In a high-net-worth divorce, potentially every matter of divorce can be affected by a couple’s high net worth. Common points of contention in a high-stakes divorce include:

• Spousal support. Spousal support is a common area of dispute in North Carolina high-net-worth divorces. What makes cases in North Carolina unique is the laws that deem adultery a criminal act. In fact, it is considered a misdemeanor, though the practice of arresting and charging individuals with this crime is not common. However, its implications may have an impact on the ability of a spouse to receive support.
• Child support. North Carolina guidelines for calculating child support incorporate several varying factors to determine an adequate amount for support. Strict and formulaic calculations are used.

Specific factors that are considered include both parents’ incomes, childcare expenses, medical expenses, the amount of time the child spends with each parent, the number of children, and other expenses related to caring for the child. Values for these items are input into the appropriate worksheet, and the amount of support is meticulously calculated.

However, in high-net-worth divorces, it is not always as easy as inputting values into a formula. When the combined family’s adjusted gross income may exceed $40,000 per month, or $480,000 per year, traditional calculation methods for determining child support are no longer useful.

When this occurs, it is necessary for the court to determine the amount of child support the supporting parent pays. This is carried out on a case-by-case basis, and there is no explicit equation that can be applied. Instead, the judge considers the standard of living the child is accustomed to, any expenses of the child, both parents’ incomes, and any other distinctive traits of the case. These decisions are not made arbitrarily and are based on heavily considered factors.

If you are in a situation in which the court determines your child support order in Salisbury, make an itemized list of all your child’s expenses. This can be a starting point to determine the amount of child support needed to adequately care for your child. In some cases, a judge may decide that the amount of support provided versus needed from both parents is even. In these cases, there is no child support order made.

Mediation

To avoid a judge’s determination of support, mediation can be a useful tool. Mediation allows parents to negotiate an acceptable support amount that they can agree on. When parents agree on an amount for child support, it keeps matters out of court. However, it must be a reasonable agreement, and a judge still needs to approve it. The child’s best interest is always prioritized in all divorces involving children and in any case in which child support is considered.

Contact a Salisbury High-Net-Worth Divorce Law Firm You Can Trust

Lancaster and St. Louis, PLLC, is an established law firm in Salisbury. Our approach to each case is unique, just like our clients. We are committed to providing our clients with a standard of legal services that is unmatched by our competition. Contact our office to schedule an appointment to meet with a qualified and knowledgeable Salisbury high-net-worth lawyer. Get the help you deserve by bringing our knowledge and experience to your side.