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Securing your future while protecting your privacy.

  • What is a high net worth separation and divorce?

  • Why are high net worth separations and divorces more challenging?

  • Is there an alternative to going to court (litigation)?

  • How are a high net worth spouse’s financial needs assessed?

  • Why is MacLean Family Law best equipped to help me with my high net worth separation and divorce?

What is a high net worth separation and divorce?

High net worth separations are between couples whose combined total worth is significant and their debts are low by comparison. High net worth separations often involve unique and complex issues.

Firstly, defining an individual’s total wealth, which can include a business, major real estate holdings, pension, stocks and other assets, can be difficult. And, if a prenuptial or postnuptial agreement is in place, these will need to be reviewed. Child support, and in some cases, spousal support is determined based on income, making it essential to agree upon an accurate number.

When couples have complex personal and commercial financial portfolios, it’s vital to ensure an accurate valuation of family property and debts, both at the start and end of the relationship. These portfolios could include:

  • Property;
  • Business interests;
  • Stock options;
  • Retirement accounts;
  • Pensions;
  • Executive bonus packages;
  • Books of business;
  • Active and passive asset depreciation.

Our services to high net worth clients include marriage agreements, divorce/separation and property division, and finding the right jointly-appointed financial experts which may include real estate appraisers, business valuators, art appraisers and forensic accountants, to ensure fair valuations and the best results.

Why are high net worth separations and divorces more challenging?

Couples who have amassed wealth and built family businesses often have more complex financial holdings to separate. The process takes time to valuate and may require several industry specific experts.

We resolve a wide range of key issues in high net worth divorce and separation cases, which include:

  • Thorough opening and closing inventory and valuation of family assets and family property;
  • Excluded property calculations and tracing of excluded property and family assets;
  • International family property division issues;
  • Estate freezes, family trusts, corporate rollovers, butterfly transactions, impact on valuation of different share classes;
  • Income taxes, capital gains taxes, RRSP’s and corporate tax implications related to valuation and division;
  • Valuation of business entities, professional practices, partnerships, or other interests;
  • Retirement as it affects the payment of spousal and child support;
  • Valuation of pensions and retirement or executive compensation packages;
  • Analysis of trust funds and beneficial interests and valuations;
  • Division of family debts;
  • The impact of remarriage on spousal support;
  • The need for consideration of inheritance planning for children on remarriage;
  • Exceptions to child and spousal support for high income earners;
  • Self sufficiency objectives for partners leaving long marriages or relationships;
  • How excluded property including pre-relationship property, gift and inheritances are affected by joint registration or ownership of same;
  • Premarital and cohabitation agreement drafting and negotiation.

Is there an alternative to going to court (litigation)?

Discrete negotiations are key in high net worth family law cases. Ensure your family business, professional practice and ventures continue to prosper without interference of divorce and court proceedings. We encourage clients to actively participate in these processes to make solid, long-term decisions, maximize privacy and minimize costs.

Mediation, arbitration and collaborative separation processes are viable alternatives to high net worth divorce and separation litigation. These processes focus on obtaining a timely and fair resolution while keeping personal divorce details out of the courts and the media.

How are a high net worth spouse’s financial needs assessed?

The BC and Alberta courts have very broad discretion when assessing what a spouse’s financial needs are. In high net worth cases, where the family has enjoyed a very high standard of living and there are substantial financial resources, the parties’ needs will be computed in a more generous way than in an ordinary divorce case. This can mean that the court determines a spouse ‘needs’ very large sums, which may run into the many millions of dollars.

At MacLean Law, we regularly deal with high net worth cases and international financial cases involving significant incomes and large asset bases and have set records for child support, spousal support, the size of property division and worldwide preservation orders. We understand how to best deal with arguments concerning needs, both for the wealth-generator and the economically weaker spouse.

Why is MacLean Family Law best equipped to help me with my high net worth separation and divorce?

MacLean Law brings together many years of family law practice and applies this experience to family law disputes. Our unique team approach brings a wealth of knowledge in law, finance and international matters to the table. Our ultimate goal is to help you retain as much financial stability as possible following the breakdown of a relationship. We also empathetically guide–and tenaciously advocate for you to effectively resolve related family matters.

Through our comprehensive family law services, wide-ranging expertise, in-depth legal knowledge, the latest in innovative family law practices, responsive support and relentless commitment to open communication, we’re dedicated to moving you forward to your most positive possible family outcomes. Our priority is safeguarding your interests.

MacLean Law has successfully negotiated or litigated many family law files with record setting judgements. Recent noteworthy judgements:

  • Baryla v. Baryla, 2019 BCCA 22
    Record breaking international divorce and family law trial judgment with client obtaining $20 million plus of family property, $100,000 a month spousal support, nearly $17,000 child support for 1 child, retroactive and lump sum support of roughly $6 million and 100% indemnity for special costs in the amount of $1.5 million.
  • Devathasan v. Devathasan, 2017 BCSC 1010
    Record setting family law financial and special costs award. International divorce and family law trial award with wife obtaining 20 million of family property, $100,000 a month spousal, nearly $17,000 child support for 1 child, 6 million retroactive, lump-sum support & 100% special costs in the amount of 1.5 Million.

For additional MacLean Law successful court cases please refer to Wins.

"

Lorne’s work is focused on achieving the best results for his clients. He is one of the best, if not the best, family lawyer in court and for complex family law matters.

"

Family Law Client