Concord High Net Worth Divorce Lawyer

Concord High Net Worth Divorce Attorney

Couples who earn high incomes or have high net worth face unique challenges when going through a divorce. It’s imperative that you work with a Concord high net worth divorce lawyer who has experience helping client’s separate assets with a high value in family court. Wealthier clients are more likely to have a wide range of assets that need to be accounted for. Issues like child support, spousal support, and property division are simply more complex when there is more money involved.

At Lancaster and St. Louis, PLLC., our lawyers tailor legal services to meet the individual needs of our clients. We will protect your rights in court and work to negotiate favorable terms for your divorce for individuals and families throughout Cabarrus County.

What Can My High Net Worth Divorce Lawyer Help With?

Couples who earn high incomes often share multiple factors that must be considered in a divorce. They tend to have been married for a decade or longer and have multiple children who may be minors or young adults. They tend to be in their mid-thirties or forties. Usually, at least one spouse has a high-earning job or owns a business. They are more likely to have significant amounts of property and retirement assets to divide. Here are some common areas that high net-worth couples have to negotiate during a divorce.

Child Support

The State of North Carolina provides guidelines and formulas for calculating child support. The calculations take into consideration factors like:

• The income of both parents
• Daycare expenses
• The number of nights spent with each parent
• Other child-rearing expenses

Exceptionally high-income families may exceed the upper-income limit the state accounts for in these calculations. Since that limits what one parent may have to pay in child support, the other spouse may have to negotiate to reach a child support figure that can provide reasonable support for the children. If both parents cannot reach an agreement on child support, a temporary hearing can be scheduled, where a judge decides an appropriate child support amount. The judge may consider the living standard the child was used to while the couple was married.

Financial Audit

As part of the divorce process, the courts often require both sides to disclose their assets and liabilities. This disclosure is completed early into the divorce process so both parties have a full understanding of the other party’s debts, assets, expenses, and liabilities. For high-net-worth couples, these financial affidavits can be complex. They include numerous types of assets, such as:
Retirement account balances

• Bank account balances
• Businesses
• Real Estate Property values
• Car value

The courts place great weight on these disclosures, so it is important to work with an attorney who understands how to generate accurate affidavits. If you have concerns that your spouse may not be disclosing all of their assets, our law firm can conduct discovery or hire a forensic accountant to search for properties and assets that may not have been disclosed.

Equitable Distribution of Assets and Property

When both parties can agree on what seems like a fair distribution, dividing assets can be a straightforward process, although high-net-worth couples have more property to account for. When both parties cannot agree, a judge will decide the matter. In some cases, a 50-50 split would not be fair to one party.

To navigate this complex area, work with an attorney who has a network of business evaluators, financial planners, and tax specialists who can assist you along the way. Properties are classified by the courts as marital, divisible, or separate. While some of these divisions may seem obvious, only your attorney can make sure that assets are correctly categorized.

Alimony

High net worth divorces are more likely to involve alimony, where one spouse pays the other spouse monthly payments for a set period of time. Post-separation support is paid only for the duration of a separation, and alimony is paid for a longer period of time.

The person receiving alimony must prove that they were substantially dependent on the other spouse during the marriage.

High Net Worth Divorce FAQs

Q: How Much Does a Divorce Lawyer Cost in NC?

A: Family law attorneys generally bill by the hour for work performed on your case. This could involve time speaking to opposing counsel, litigating in court, drafting motions, and researching the facts of your case. Attorneys who have more experience helping clients reach favorable settlements charge more per hour for their services.

Q: How Do I Protect My Money in a Divorce in NC?

A: You can protect your money from an unfair division of assets by hiring an experienced family law attorney who has helped high-net-worth clients navigate their divorces with favorable outcomes. If both parties cannot agree on how to divide the estate, the courts will ultimately divide assets and properties in a manner they deem fair to both parties. Your attorney will work to make sure you do not give up more than what you are required to by law.

Q: What Is the Settlement for Divorce in NC?

A: Many divorce cases are finalized via a divorce settlement agreement. This means that both parties agree to the terms listed on a court document. The settlement could be long and comprehensive, or it can address one last lingering issue. Settlements are often preferable to going to trial, which can be time-consuming and costly for both parties.

Schedule Your High Net Worth Divorce Consultation Today

High-net-worth couples face unique challenges during a divorce, but working with an experienced family law firm can make that process easier to navigate. At Lancaster and St. Louis, PLLC., our lawyers understand the unique needs of high-earning spouses and high-net-worth couples. We will tailor our services to meet your needs. Contact our office today to schedule a consultation.