HNW divorces are usually both complex and contentious. They also can come with some severe pitfalls if you don’t have an experienced divorce lawyer fighting hard to ensure you get your fair share of the marital assets.
Our team of hard-nosed negotiators and family law litigators has a long track record of getting great results for clients. We understand the complexities of untangling complicated asset profiles, and offer creative legal solutions to help our clients succeed.
A number of our high asset divorce lawyers have been in practice for over 20 years, and thus have an expert understanding of the playing field.
Does adultery affect divorce settlements in Alberta?
Adultery can only be used as a grounds for the divorce. It has no bearing on the divorce settlement at all.
This is actually good news, even if you’re the wronged partner. The truth is that there’s nothing to be gained by getting into a battle over the other spouse’s behavior unless there is concern that person is an unfit parent.
Instead you can focus on evaluating the best case and worst case scenarios allowed for by Alberta law, and focus on crafting a strong settlement that exists somewhere between those extremes. You can focus on goals like preserving control over your business, maintaining the value of retirement funds, or receiving an appropriate amount of spousal support.
How are assets divided in a high net worth Alberta divorce?
Assets are usually divided as close to 50/50 as possible unless there are extenuating factors that would make a 50/50 division unfair. The length of the marriage, the role each spouse played in supporting the home, family, and wealth, and economic disparities between the spouses can all play into what’s “fair.”
In addition, not all assets are liquid, and making some moves will carry some important tax consequences. It’s important to have a lawyer who understands how to adjust for those disparities.
For example, a marriage of 25 years is dissolving. One spouse owns a business and wants to retain control of it. The business can’t be easily divided. There may be ways for the business owner to retain 100% control of the business while making an equalization payment, giving up real property or stock accounts, or agreeing to pay a higher share of spousal support. It’s easy to see how negotiations can quickly grow complex.
How is spousal support determined in a high net worth Alberta divorce?
Having a high net worth doesn’t impact spousal support, though you should know that one spouse won’t be left to live like a pauper while the other continues to enjoy a much better lifestyle. The courts would not consider paying for “bare minimum survival amount” to be a fair arrangement in most high net worth cases.
See our spousal support page for more details.
Get help today.
Call (587) 689-3333 to schedule an appointment with one of our experienced family lawyers. Take advantage of our experience and our problem solving skills. When a lot of money is at stake, the fight for justice gets longer and harder. Make sure you have the right lawyers on your side.
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