Vancouver Calgary High Net Worth Divorce – Do’s & Don’ts – Part 2 – Do’s. MacLean Law is Canada’s national family law firm with offices in Vancouver, across BC, Calgary, and Toronto. 1 877 602 9900
Our top-rated* Vancouver Calgary High Net Worth Divorce lawyers know separating spouses who have matrimonial property of over $5,000,000 also frequently have family companies, professional practices, holding companies, investment accounts, and incomes well over $1,000,000 a year annually. Often, high net worth separating spouses are approaching or past middle age. Grey Divorce is something our office handles regularly and we write for leading financial newspapers and lecture to lawyers on this topic. We hold the record for the largest spousal and child support award at $116,000 a month and the largest lump sum spousal and child support award of several million. We also hold the record for special costs awards of 100% and in the range of $1.2 million to $1.5 million! Check out the media reports on these massive wins! Here too!
In our previous blog, we told you what NOT TO DO in high net worth divorces.
Today, Peter Graburn gives you key tips on how to act if you want to increase your chances of a successful outcome for you and your children.
Vancouver Calgary High Net Worth Divorce – What To Do! 1 877 602 9900
In a previous article , Peter Graburn outlined the many procedural steps necessary to complete a Vancouver Calgary High Net Worth divorce (ie. identification, classification, valuation, and distribution of matrimonial property, etc. – Yikes!). But what are some of the practical considerations (do’s and don’ts) someone should keep in mind during the Vancouver Calgary High Net Worth divorce? Here are some suggestions for the “Do’s”:
1. Do Disclose all Property & Debt – Full financial disclosure is a fundamental principle in family law and a pillar of a fair and binding matrimonial property settlement. Disclose, disclose, disclose. Do not attempt to hide assets – these can be tracked down, and this will be held against you by the Court. Any property not disclosed in the settlement process is not covered by the Separation Agreement and may be attacked by the other party later, often with solicitor – client costs;
2. Do Use 3rd Party Experts – Family lawyers know the law – they are not experts in taxes, financial planning, land/business/pension valuations, or tracing or finding money (forensic accounting). Particularly in High Net Worth divorces, retaining such experts to give their opinion, either by written report or in Court (if necessary) is well worth the cost of obtaining this necessary evidence;
3.Do Use Your Support Network – High Net Worth divorce can be a long and highly emotional experience – the parties (or at least one of them) have/has the financial resources to draw out a high-conflict situation. Also, guilt, anger, betrayal, confusion, etc. are all very common feelings in this situation.But remember – you are not alone.There a number of people who can provide you with support along this road – friends, family, new relationships, etc. While family law lawyers are not trained to give professional support and advice in this area, they can refer you (like 3rd party experts) to professionals who can assist you to deal with the emotional costs of a High Net Worth divorce to be able to make better decisions within this process;
4. Do Try Mediation – most agree (event the Courts!) that family law matters should not be resolved in Court (although sometimes they do end up there). Alternative Dispute Resolution (ADR), whether in the form of Mediation, Collaborative Law or family Arbitration, is a better way to resolve family law matters – it’s faster, cheaper, and the parties can come up with a “win-win”, “outside the box” resolution that can maintain the future relationship of the parties for the benefit of children. Plus, especially for High Net Worth divorces, it’s confidential;
5. Do Be Reasonable – Divorce, particularly High Net Worth and High Income divorce, involves a number of inter-connected issues: child custody and access (parenting); child support; spousal support; division of (significant) matrimonial property, and; legal and court costs.How you treat (and are treated by) your ex-partner on any one issue effects how other issues with be dealt with and how a Court (if the matter goes there) will view the overall resolution. Be reasonable in settlement proposals and resolutions – it will benefit you and your children .
Vancouver Calgary High Net Worth Divorce 1 877 602 9900
Vancouver Calgary High Net Worth divorce is complicated and you cannot ever consider trying to do your own homemade agreement or even consider making the error of hiring a lawyer who is not focussed in the area of high net worth divorces and separations.
Toronto High Income Separation Lawyers
Vancouver Calgary High Net Worth Divorce cases can be a lengthy, procedural, and sometimes adversarial process. Our Vancouver Calgary High Net Worth Divorce lawyers have offices located in Vancouver, Calgary, Toronto Surrey, Kelowna, and Fort St John. Our lawyers know what assets to value, where the hidden income and assets may be and how to find, value and properly share them both.
If you have already been divorced or separated before, you have learned the benefits of a solid prenuptial or post-nuptial agreement in place (that cannot be successfully attacked) that clearly sets out how the matrimonial property is to be divided. Our Wealth and asset protection lawyers can assist you whether you:
- are re-partnering and want to set the fair financial game rules for your relationship or;
- you face a high stakes Vancouver Calgary High net worth divorce.
