A Family Lawyer’s Guide to High-Asset Divorces in Miami

Getting a divorce is stressful and often frightening. Ending a marriage is not something you enter into lightly. No matter the situation, there is always a lot at stake. In cases where the couple has substantial assets, the outcome can be even more worrying. If both parties have high salaries or large assets, divorce presents some unique challenges. A family lawyer in Miami Fl can help to make sure that the outcome is positive for both parties.

Getting Expert Help from Family Lawyers in Miami Fl

It is important to hire a family attorney in a Miami Fl high-asset divorce case. Getting advice from someone who has a deep understanding of Florida law is paramount. A professional family law attorney will be able to understand the complexities of your financial investments. He or she will also have connections with useful expert witnesses, such as social investigators, auditors, appraisers, and forensic accountants.

What Is Equitable Distribution?

In Florida, the divorce laws state that marital liabilities and assets must be “equitably distributed.” This means that the court divides all the marital liabilities and assets equally between both partners. It is possible to avoid this, however, if one person can prove circumstances that would make splitting the assets inequitable.

When reviewing any case to determine how to distribute the assets, the court must classify each debt and asset. The court classifies each one as either separate or marital property. Only debt or property the court classifies as marital can be equitably distributed by the judge. Any property deemed to be separate remains with the partner who owns it.

Usually, the process is quite straightforward. However, if the divorce case involves high assets, the process is considerably more complex. Therefore, it is essential to hire the services of a skilled and experienced family lawyer in Miami. He or she will be best-placed to represent you aggressively in order to protect your interests in your high-asset divorce.

How Does Alimony Work in High-Asset Divorces?

Sometimes called spousal support or maintenance, alimony is a payment made by one ex-partner to the other. The principle that guides the awarding of alimony is to alleviate disparity in the financial resources between both parties. Yet, financial resources disparity alone cannot justify an alimony award. Instead, the family law court in Florida looks at the ability of one spouse to pay any alimony. This is then compared with the need of his or her ex-spouse to receive that alimony. No precise formula exists for calculating alimony when it comes to high-asset divorces in Florida. Therefore, hiring the best family lawyer in Miami Fl can make an enormous difference to the awarding of alimony.

How Does Child Custody Work in High-Asset Divorces?

In any case in which a couple has minor children, the law requires the parents to submit a parenting plan. This plan will then be subject to the approval of the court. In the parenting plan, the parents will outline how they will share the decision-making and responsibilities. At an absolute minimum, a parenting plan must outline the sharing of daily tasks. It must describe how the parents will share the responsibility for the regular tasks associated with raising a child. The plan must also outline the amount of time that the children will be spending with each of their parents. In addition, it must designate a parent who will take responsibility for school matters, health-care issues, and other activities. The plan must also include the technologies and methods that parents plan to use for communicating with their children.

When the parents cannot agree on a parenting plan, a judge can step in. The judge will then decide on the terms of the plan on the parents’ behalf. In such a case, hiring a skilled family law attorney in Miami will ensure your interests are properly represented. Once the judge issues the parenting plan, it becomes extremely difficult to make any changes. Therefore, it’s vital to ensure you are satisfied with the plan since modifying it in the future may be impossible.

How Can Thomas McDonald Law Help?

Hiring a talented family lawyer in Miami can make all the difference when going through a divorce. This is especially the case if you and your ex-spouse have large assets. If you’ve thought about getting a divorce or have already begun the process of filing, contact Thomas McDonald Law today. Our team is highly experienced and can represent your interests to your best advantage. With help from our skilled custody lawyer in Miami, you can draft a parenting plan you will be happy with. You will also have the best chance of receiving any alimony. We will help protect your assets so your high-asset divorce can go smoothly.