Special Considerations in High Net Worth Divorce
High net worth divorce in Washington, DC can involve complex considerations that are not involved in other cases. These considerations include items such as property valuations, alimony, and high-income child support.
Courts in DC divorce cases consider property acquired during the marriage as marital property subject to equitable distribution, so it is imperative that property is valued correctly. In addition to complex property considerations many high asset divorce cases in Washington DC involve alimony claims that need to be resolved. If children are involved, then the parties in a high net worth divorce need to consider not only custody but what the appropriate child support would be in the case as the DC Child Support Guidelines are not presumptive for incomes over $240,000. The experienced DC divorce lawyers at the Barkat Law Firm are knowledgeable about high asset divorces and can help you navigate the complex issues raised above.
Property Considerations in High Asset Divorces in Washington, DC
Some examples of the property issues that arise in high asset divorce cases include how to address stock options, inherited property, valuable personal property including jewelry and artwork, businesses and partnerships owned by one or both spouses, and valuation of rental properties. A divorce attorney can help identify the areas where a forensic accountant might be needed to value stock options, and/or “trace” separate property related to inheritances. Our DC divorce lawyer can also help identify personal property that might require the use of an expert appraiser to provide a valuation. In instances, a business or partnership is involved a Washington DC divorce attorney can help assist in obtaining a business valuation, and/or advising on whether the business is insulated from equitable distribution in a divorce in Washington, DC. For cases where the parties have more than one piece of real property, it may be necessary to coordinate several real estate appraisals in DC and other states. The Washington DC divorce lawyers at the Barkat Law Firm can help identify appraisers and coordinate the appraisals.
Alimony Considerations in High Net Worth Divorces in Washington, DC
Alimony oftentimes must be considered in high asset divorces. Contrary to what many people believe alimony is not automatic in Washington DC divorce cases. In considering whether to award alimony the courts in DC divorce cases consider factors below that are set forth in the DC Code. Courts also make determinations as to whether alimony will be temporary or permanent in duration, and the appropriate amount. A DC divorce lawyer with experience in high asset divorces can provide guidance on possible outcomes regarding alimony if litigation becomes necessary and identify strategies to put you in the best position to get the outcome you are seeking. If the parties are negotiating a settlement, then our DC divorce attorney can help with the same as above and help you consider alternatives to the traditional alimony structures, such as negotiating for lump sum alimony and advising on the pros and cons of those considerations.
Child Support Considerations in High Asset Divorces in Washington, DC
Most cases in Washington DC child custody cases involve the use of the DC Child Support Guidelines. The DC Child Support Guidelines use a calculation to determine the presumptive amount of child support appropriate in each DC child custody case. High net worth divorce cases in Washington, DC will typically involve additional factors to consider in determining child support that is not present in every DC Child Custody case. The Guidelines referenced above are only presumptive in cases where the parties combined gross income is $240,000 and below. In cases where the combined income is above $240,000, the court must award the amount that is set forth under the Guidelines but can also adjust child support upwards to reflect the actual experience of each family. Our experienced DC divorce lawyer, who has litigated many high net worth divorce child support cases, can advise on how to consider items such as private school tuition, extracurricular activities, travel for education, fees for nannies and other childcare expenses that may be relevant to determining the appropriate amount of child support.
Our DC Divorce Lawyers have the experience to guide you through your high net worth divorce taking into account the many special considerations that may arise. Whether your case is going to trial or you are negotiating a settlement we can provide practical advice to put you in the best position possible given your unique set of circumstances.