High Net Worth Lawyer in Toronto
If you’re a high net-worth individual going through a divorce, you likely have a lot to consider as it pertains to the implications of separation. A high net worth divorce in Toronto may involve discussions such as how to protect one’s business interests or investments, how property division may work, and more. Things can get complicated quickly in a high net worth divorce, but they don’t necessarily need to be with the right legal representation. You can still protect your finances and assets while settling a divorce amicably and efficiently. Have your concerns addressed by speaking with a divorce lawyer in Toronto experienced in high net worth divorces.
Assets to Protect When Going Through High Net Worth Divorce in Toronto
A big question a lot of people going through a high net worth divorce have is how to protect their assets. The financial assets they’ve acquired are their investments towards a secure future for many people. In a divorce, the stakes are high, and the wrong strategy in negotiations or in court can result in a loss of assets that could have been avoided.
There are many assets to protect, any Toronto high net worth family lawyer will tell you. In divorce, an individual’s ‘total wealth’ must be established. How this is defined can vary, but things like businesses owned, professional practices, major real estate holdings, pensions, stocks, and similar assets. Anything you accumulated during the marriage is essentially in the conversation. For individuals who have worked hard to earn what they have, it’s overwhelming to think that it can be taken away in a high-net-worth divorce so quickly.
Furthermore, there’s the issue of spousal support payments and the perceived unfairness of how they can be calculated. For these, a spouse’s ‘true income’ is analyzed beyond what’s stated in their personal tax return income. This can include income-generating assets. All of this helps to define what child support if any, and/or spousal support is owed.
Fortunately, there is a lot that a high-net-worth family lawyer in Toronto can do. They can aid in securing accurate asset valuations. As defined in the Family Law Act, there may be’ excluded property’ that won’t be subject to discussions in a high net worth divorce. They can also help navigate the complex legal framework around pensions, investment portfolios, bonuses, gifts, inheritances, and the valuation of real estate holdings in multiple jurisdictions.
Even if you are on favourable terms with your former partner, you need to protect your assets in a divorce, and that’s where a divorce lawyer can help.
How High Net Worth Lawyer Can Help You
There are no doubt unique challenges faced by couples in high-income divorces and separations. A high net worth divorce isn’t simple. Ambiguity and conflict can present quickly. You need a high-net-worth lawyer who understands your case—every detail matters. As daunting as a divorce can seem, you can untangle the intricacies and get the best guidance towards protecting your earnings and assets with a thoughtful and strategic approach. Receive the support you need to uphold your legal rights, protect your financial interests, and minimize overall risk. Achieve the best possible outcome on your high net worth divorce in Toronto. Hire an experienced high-net-worth family lawyer today.