Below are some of the most important, common, and frequently asked questions (FAQs) about what to expect during a high net worth divorce. These are provided as family law tips for you to use in discussions with your Utah divorce attorney. This general information can help ensure that your rights are fully protected, that custody issues are quickly resolved, and that you receive all assets to which you are legally entitled in your Salt Lake City Utah high net worth divorce.
High Net Worth Divorce FAQ
- Your and/or your spouse's medical, legal, consulting, or other professional practice
- Your and/or your spouse's increased earning potential from academic degrees or professional licenses
- Family businesses and other closely held businesses
- Complicated transactions involving business(es) you and your spouse own together
- Primary residences, vacation homes, residential investment properties, commercial and industrial buildings, undeveloped land, and another real estate (real property)
- Retirement assets such as stock options, bonds
- IRAs, 401(k) accounts, and pensions
- Trusts, Money Market accounts, and bank checking and savings accounts, CDs, and other liquid assets
- Life insurance policies
- Intellectual property, such as patents, trademarks, and copyrights
- Personal property, including vehicles, boats, jewels, artworks, antiques, and other collectibles
- Obtaining a fair valuation
- Arriving at an agreement that removes your spouse (from whom you will soon be divorced) from the business
- And working on arranging for payment to your spouse at the time of the divorce settlement, to be made through your personal assets, and perhaps through raising capital
- Base income
- Profit distributions and bonuses
- Interest or passive income
- Company perquisites
- Phantom Income
- You must be unmarried.
- You must be age 62 or above.
- Your ex-spouse must be entitled to Social Security disability or retirement benefits.
- The benefit you would receive based on your own income earnings is a lesser amount than the benefit you would receive based on your ex-spouse's income earnings.
- If there is a risk of being falsely accused of domestic violence,
- Or, if you fear domestic violence may occur during the divorce, then it is necessary to move out.
- And, your spouse may be insisting that you move out.
- But, notwithstanding financial concerns, if your spouse fights to prevent you from seeing your children, then moving out can work against you in your custody case.
High Net Worth Divorce Attorney in Salt Lake City, Utah
Attorney David Pedrazas is a Salt Lake City family law lawyer at the Law Office of David Pedrazas, PLLC. For over 20 years, Attorney Pedrazas has been helping people going through divorce. He is devoted to helping his clients move forward with their lives after divorce.
Efficient process — We know that you and your family are going through a very difficult situation, and we understand your need for help from caring professionals who are committed to making the process as simple and efficient and as possible.
Protecting your rights — Our priority is to make sure that each client fully understands her/his legal rights and to help every client make fully-informed decisions for the future of happier times to come, beyond divorce. And, the Pedrazas professional legal team work to defend your rights in a divorce case and ensure that you receive a fair division of property, including all marital assets to which you are legally entitled.
Professional Excellence — Utah attorney David Pedrazas has received much recognition for professional excellence throughout his years of serving the Salt Lake City community, including:
- One of the Top 10 Attorneys in Salt Lake City, UT, according to The National Academy of Family Law Association
- Included in the Premier Top 100 Trial Attorneys in Family & Divorce, evaluation by the American Academy of Trial Attorneys
- Named in the 10 Best Divorce Attorneys for both years 2014 and 2015, per the American Institute of Family Law
For more information about high net worth divorce, or to schedule a divorce case review in Salt Lake City, call the Law Office of David Pedrazas, PLLC. Divorce Attorney David Pedrazas will answer all of your questions, evaluate your case and advise you on the best course of action based on your individual needs and preferences.
The Law Office of David Pedrazas, PLLC has been serving Utah families going through divorce and other matters of family law since 1998.