High Net Worth Divorce Can Be Complicated
At YLaw we also specialize in dealing with numerous high net worth divorce files. High net worth divorce often means that assets open to division are worth more than $1,000,000. In these cases, there are often companies, trusts, high incomes, inheritances, etc, involved. Such complex issues require expert legal assistance. Without expert legal assistance, you may lose more than you intended to– sometimes more than hundreds of thousands of dollars.
High net worth divorce needs family lawyers who have dealt with similar cases before and know what strategies to use to:
- Reduce any tax obligations arising from division of assets or spousal support;
- Who to engage to value business assets and what method to use to ensure you do not pay more than you have to;
- Who to engage and how to determine self-employment or corporate income;
- How to read and use financial statements for your business in your favour;
- How to argue whether retained corporate earnings should or should not be a part of your income for child or spousal support purposes;
- How to protect you against having to pay spousal support from your estate after death;
- How to cap spousal support or negotiate an amount which will give you a clean break and not leave you on hook for the rest of your life;
- How to determine child support payable and how to use tax advantages when paying child or spousal support;
- How to reduce the time and costs of litigation;
- How to ensure your reputation does not get harmed or damaged as a result of litigation which is often public.
High net worth divorce is often more complicated than other family law cases. A lawyer will need to sometimes review all your monthly bank accounts for your personal and corporate entities. Sometimes your spouse may allege that you have written off too many expenses against corporate earnings and therefore for example, your income is higher than what you have reported to the CRA. This, if proven true, can also get you in trouble with the CRA. A family lawyer who is experienced and familiar with these issues can act as an invaluable tool to protect you against false allegations in your matrimonial litigation and therefore to the CRA.
Learn How a Vancouver High Net Worth Divorce Attorney Can Help
Most cases we handle are worth more than $1,000,000 and we have professional relationships with the best corporate experts and evaluators in BC to assist us in finding the best outcome for your case. We can guide you towards the right path and use effective and crucial negotiation techniques to ensure you can continue leading your businesses with peace of mind and (hopefully) a quick resolution to your family law issues.
Call us today for immediate assistance: 604-974-9529.