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Vancouver BC Ultra High Net Worth Divorce

Vancouver BC ultra high net worth divorce cases demand precise and discrete legal advice to ensure wealth and asset protection is maximized. Privacy is also crucial both for one’s personal reputation and for maintaining healthy financial relationships with banks, partners and investors. Lorne MacLean, QC heads our BC ultra high net worth divorce department. MacLean Law’s team recently set record high amounts for combined interim support at over $83,000 a month and then set a record for permanent support at the trial of $116,000 a month after obtaining a property settlement award of 20 million in an international divorce.

Vancouver BC Ultra High Net Worth Divorce 1-877-602-9900

The number of  Vancouver BC ultra high net worth individuals is increasing at a rate faster than in the United States. Super cars roam Vancouver Streets and high-end boutiques are booming. Although land values have moderated somewhat recently, the presence of multimillionaires in Vancouver is undeniable.  MacLean Law has one of Western Canada’s largest and most experienced, award-winning, family law teams. MacLean Law took the initiative to serve our Vancouver BC ultra high net worth Mandarin and Cantonese speaking clientele better by creating the largest Mandarin-speaking family law team in Western Canada.

As an example of our wealth and asset protection skill set we quote from a recent multi-millionaire client with international holdings of his view of Lorne MacLean, QC:

Lorne has done an outstanding job with his work on my case which was extremely complex. He is accurate and quick, always up to date, his tenacity makes me wish never to have him as an opponent, and at the same time extremely fair looking at both sides of the picture. At the same time he has a great sense of humor. When things have to happen quickly AND well this is your man! He even hand delivered documents in person to my home on several occasions! No doubt top in his field and I would recommend him and his team to anyone.

Vancouver BC Ultra High Net Worth Separation

Ultra high-net-worth individuals (UHNWI) are defined as having a net worth of at least $30 million accounting for shares in public and private companies, residential, stock accounts, hedge fund interests and passion investments such as art, planes and real estate.

Special rules apply to  these Vancouver BC Ultra High Net Worth Divorce individuals depending on when they acquired their assets, how they acquired them and how these assets are owned by them. BC ultra high net worth divorce cases include the following issues:

1. For child support: the $150,000 income threshold rules may come into play which allow for a departure from a strict application of the guidelines. Here is a winning quote for one of our high net worth child support wins.

[112]     In my view, a strict application of the Guidelines in relation to the Respondent’s income, as determined above, would not be inappropriate despite the income amounts being in excess of $150,000: see Guidelines, s. 4.

[113]     In Hollenbach v. Hollenbach2000 BCCA 620 (CanLII), the Court stated that the Guidelines amount will presumptively apply, unless the payor spouse provides “clear and compelling” evidence as to inappropriateness: paras. 36.

2. For spousal support: the $350,000 cap rule may come into play which allow for a departure from a strict application of the guidelines. Here is an extract from one of our leading high net worth spousal support cases:

[114]     The comments of Master Caldwell in Williams v. Williams, 2015 BCSC 112 (CanLII) are apposite:

[20]         … I am satisfied from [Hathaway v. Hathaway, 2014 BCCA 310 (CanLII)] that, while there may be consideration of a $350,000 ceiling, the court need not depart from the Child Support Guidelines or the Spousal Support Advisory Guidelines. In that regard I am respectfully of the view that where the parties have the type and length of relationship as is present in this case the interim support relief should seek to provide a realistic sharing of the available income or cash flow so that they may move forward in their dealings and the litigation on a somewhat equal footing. Failure to provide such equitable sharing unfairly slants the overall playing field and places one party at a distinct disadvantage in terms of their ability to pursue an appropriate outcome; on the other hand, if the interim order turns out, in the fullness of time and evidence at trial, to have been inappropriate, there are ample assets and sources of income which may serve to remedy that temporary situation and put matters right.

3. For property: making an inventory of excluded property brought into the relationship or received by gifts or inheritances and in valuation and division disputes calculating the proper starting values and ending values as well as the gains in value of each asset. Read MacLean’s valuation blog here.

4. How the property is registered is critical. Placing wealth in joint names, or in the other spouse’s name for creditor protection or estate planning, can be a fatal error.

5. Ensuring you have a comprehensive estate plan in place, coupled with an executed and ironclad prenuptial agreement is crucial.

6. Tax planning in disputed relationship breakdown cases and the associated corporate and trust issues really require a seasoned lawyer who deals with these complex issues on a daily basis.

7. Retaining a savvy high net worth divorce lawyer such as Lorne MacLean QC to protect you in a Vancouver BC Ultra High Net Worth Divorce or relationship breakup helps you avoid disaster.

Vancouver High Income Family Lawyers 1-877-602-9900

If you are involved in a Vancouver BC ultra high net worth divorce you need someone to skillfully protect your interests and Lorne MacLean, QC will do just that. Pick up the phone today and call our Vancouver BC Ultra High Net Worth Divorce lawyers at our waterfront downtown office at Suite 2900 -1021 West Hastings in Vancouver, BC at 604-602-9000.