Representation When The Stakes In Divorce Are High
Complex divorce describes divorces that involve substantial assets, contentious issues that defy resolution, and family circumstances that require especially thoughtful solutions. Most divorce firms shy away from these kinds of cases. At Mowery Youell & Galeano, Ltd., of Dublin, we are one of a handful of central Ohio firms that lay special emphasis on them.
Any divorce in which significant assets are at stake requires representation by a highly skilled attorney. Property division is a primary concern in such cases. Your assets may include a family business, multiple real properties, business investments, stocks, bonds, collectibles and other assets, and you will want to have as much control over their disposition and minimum negative tax consequences.
Child Support In High Net Worth Divorce
Child support issues can also be intense for high net worth families.
When calculating child support, the first step a trial court must take is to determine the incomes of the parents. Once each parent’s income is determined, the incomes are combined for purposes of applying the child support guidelines. High-asset and high-income child support situations occur when the combined gross income of both parents exceeds $150,000. The court sets the level of support taking various factors, assertively described by your lawyer.
Our attorneys represent both sides in divorce. Even if you did not work outside the home or have a career, you are still entitled to your share of marital assets. Let the family lawyers at Mowery Youell & Galeano, Ltd., lead you through the legal labyrinth maze, putting our knowledge and experience at your disposal.
Frequently Asked Questions About High Net Divorce In Ohio
Understanding the intricacies of a high net worth divorce can be daunting. Here are some common questions and answers to help clarify the process and what to expect.
What is considered a high-asset divorce in Ohio?
High net worth divorces involve the division of significant financial and material assets. Examples include multiple real properties, family businesses, business investments, stocks, bonds and valuable collectibles. When substantial assets are at stake, the complexity of the divorce increases, requiring a thorough evaluation and strategic planning to facilitate fair distribution.
What makes a high-asset divorce so complex?
They are complicated due to the intricate nature of dividing valuable and diverse assets. Factors contributing to this complexity include accurately valuing businesses, real estate and investment portfolios, determining the impact of tax consequences and dealing with prenuptial agreements and other legal documents.
How can I protect myself in my high-asset divorce?
A skilled attorney experienced in complex divorces can offer substantial protection. Gathering irrefutable financial documentation, including bank statements, tax returns and records of all assets and liabilities, can also protect you during the division of high-value marital assets. In tandem with legal guidance, a reputable financial advisor can expand your protection further by helping ensure your financial interests are safeguarded throughout the process.
How much does a high-asset divorce cost?
The costs can vary significantly based on several factors. Examples include legal fees, court costs, fees for financial professionals and costs associated with property appraisals and valuations. While high-asset divorces tend to be more expensive due to the need for extensive financial analysis and professional involvement, investing in experienced legal representation is crucial to increasing the chances of a fair outcome.
Why should I hire an attorney for my high-asset divorce?
Hiring an attorney for a high-asset divorce is essential due to the complexity and stakes involved. A skilled attorney will provide invaluable guidance, from asset valuation to strategic negotiation and courtroom representation. They will protect your rights and see that all assets are identified and fairly distributed, all while working to minimize potentially negative tax consequences.
To discuss the finer points of divorce, and to discuss your options, contact one of our attorneys. From our office in Dublin, we represent clients throughout the Columbus metro area and central Ohio. You may call us at 614-467-4923, or email us specific questions.