Westwood High-Net Worth Divorce Lawyer

Westwood High-Net Worth Divorce Attorney

Married couples who have substantial marital estates can run into unique challenges when going through a divorce. Some of these challenges can lead to delays and setbacks if both parties are not mindful of the unique considerations of a high-net-worth divorce. By securing the legal services of a Westwood high-net-worth divorce lawyer, you can anticipate these challenges and resolve important matters so that there is a fair and timely resolution of the divorce.

A Trusted Family Law Firm for High-Earning Individuals

Not all family law firms understand the complexities of dividing large marital estates and setting alimony for high-earning individuals. At Farias Family Law, our attorneys routinely guide high-earning individuals through the divorce process. We understand the special considerations that need to be made when handling high-net-worth divorces.

We can help you accurately calculate the value of your marital estate so it is divided fairly. If you have concerns about how your children will maintain their quality education and lifestyle following the divorce, we can address those concerns as well.

Alimony Considerations for High-Net-Worth Couples

Setting alimony in high-net-worth divorce cases can present unique challenges. This is due to the large marital estates and potential income disparities between the spouses. The family courts in Westwood assess the financial needs of potential recipients. They also consider the payor’s ability to provide support. The outcome of asset division during the divorce and the future earning potential of both parties can also play a role in determining alimony awards.

Shorter marriages that involve significant wealth differences may lead the courts to consider alternative arrangements, such as transitional alimony. The outcome of property division can also shape alimony considerations. When one spouse receives a large portion of the marital estate, they may not have as strong an argument when requesting additional support. The length of time both partners lived together before marriage may also be considered.

Child Support Consideration

Massachusetts follows state guidelines to calculate child support, but for high-income parents, standard formulas may not fully address a child’s financial needs. When combined parental income exceeds state limits, courts have the discretion to adjust payments to ensure adequate support while maintaining fairness.

There are often unique considerations for child support when the parents are high earners. For example, the child may attend private school. They often have a different lifestyle than other children. The courts may consider upholding the lifestyle of the child when ordering child support. Alimony can also influence how much child support is awarded.

Understanding the Role of Business Valuations

Dividing a large marital estate can present challenges. Before an estate can be divided, there must be an accurate accounting of how much the estate is worth and which portion is subject to division during a divorce. For example, gifts and inheritance are typically not subject to division.

Large estates often have various types of assets that can include investments, stocks, and intellectual property. If the couple owns all or part of a business, those assets must be considered as well. If a business was started before marriage but grew during marriage, a portion of that business growth could be subject to division during a divorce. In some cases, a third-party forensic auditor may be needed to accurately calculate how much an estate is worth.

Why Legal Representation Is Crucial for High-Net-Worth Divorces

High-net-worth divorces involve complex financial considerations that require skilled legal representation. With substantial assets, business interests, investment portfolios, and multiple income sources at stake, navigating property division, alimony, and child support requires strategic planning from an attorney who understands how to protect their client’s financial interests and rights.

High-net-worth divorces often involve prenuptial agreements, trusts, and international assets that require legal representation to interpret and enforce. Without experienced legal counsel, individuals risk losing significant wealth or facing prolonged disputes.

FAQs

Q: How Much Does a Divorce Lawyer Cost in Massachusetts?

A: Divorce lawyer costs in Massachusetts vary based on case complexity, attorney experience, and whether the divorce is contested. Fees typically include hourly rates or flat fees for specific services. High-conflict cases, especially those involving significant assets or custody disputes, tend to be more expensive due to extended legal proceedings and the need for an experienced lawyer.

Q: Is Everything Split 50/50 in a Divorce in Massachusetts?

A: Not everything is split 50/50 during a divorce. Massachusetts follows the legal principle of equitable distribution. This means that the focus is on dividing the estate fairly and not necessarily equally. In practice, many divorces lead to a division of the state that leads to significant assets being allotted to both parties. In high-net-worth divorces, complex assets such as businesses, investments, and real estate require careful evaluation for a fair division.

Q: What Is Considered a High Net Divorce?

A: A high-net-worth divorce typically involves substantial assets, including businesses, investments, real estate, and retirement accounts. These cases require detailed asset valuation, financial planning, and legal strategies to ensure equitable distribution while addressing tax implications, alimony, and child support concerns unique to significant wealth. A high-net-worth divorce often requires experienced legal representation.

Q: What Is a Net Worth Statement for Divorce?

A: Before any estate division can begin, both sides are required to disclose the full value of their property and assets. A net worth statement is a financial document listing a spouse’s assets, liabilities, income, and expenses. This important financial document helps the court make important decisions when setting child support, alimony, and other important matters.

Schedule Your High-Net-Worth Divorce Today

The family law attorneys at Farias Family Law understand your needs and how to help you achieve your goals in family court. We are very familiar with the needs of high-earning clients, and any matters we discuss will be kept completely confidential due to attorney-client privilege.

Whether you have concerns about your children’s ability to remain in private school or how your estate will be divided, we’re here to help. We take a strategic and client-focused approach to our cases. Your interests and goals will shape our legal strategy and approach to your divorce. Contact our office today to schedule your high-net-worth divorce consultation.