Protecting your Assets in a High Value Divorce Edina
Beth Barbosa focuses on representing individuals who are going through a complex high-asset divorce. She will help you easily navigate otherwise complicated issues such as property division and spousal maintenance, in addition to any other asset-related determinations that you and your former spouse need to make. Specifically, Beth has worked with many business owners, physicians, and executives, so she understands the challenges these types of professionals may face during a divorce.
If you own your business or practice, Beth will likely hire an appraiser on your behalf to determine the value of your business accurately so she can best negotiate for your assets. It is important to have an impartial determination as to the value of your assets to avoid unreasonable requests or expectations during the negotiation process, especially at a time when emotions are running high.
As a professional who is potentially well known in the community, you may be concerned about your privacy and the privacy of your business or practice while you are divorcing. Beth in edina, mn has represented high-profile clients during their complex divorces and will work diligently to push for a resolution that ensures you won’t need to allow your private information to become public. Your personal and professional information is safe with Beth Barbosa.
In addition to your business assets, you may have real estate, stocks, bonds, and other types of assets that you wish to ensure are fairly disbursed between you and your ex-spouse. You deserve your pre-marriage assets, and you need to ensure that your post-divorce finances will be adequate to sustain your quality of life. Throughout the divorce process, Beth may use a variety of professionals, such as financial neutrals, real estate experts, and others with in-depth knowledge to protect and advance your interests. There are many options for negotiating the distribution of your assets, so Beth will ensure you are aware of the possibilities and can make informed decisions about what you would like to prioritize.
In the state of Minnesota, spousal maintenance or spousal support, which is often referred to as alimony, means that the higher income earner in the marriage will need to contribute financially to their former spouse’s standard of living. This is ordered if the court determines that the lower income earner requires financial support to reasonably continue living the lifestyle they lived while in the marriage.
There are a variety of factors that are used to determine exactly what spousal maintenance means for each former couple. These include the length of the marriage, ages of the individuals, income, and current standard of living. It also considers the types of employment available to the lower-earning spouse. For example, if he or she has not worked for many years due to being a homemaker, the courts may determine that it would be difficult for this person to get a job that would adequately support their lifestyle without spousal support.
Spousal maintenance can be negotiated between spouses if other financial assets are made available to the lower earner. For this reason, it’s very important to have a qualified attorney on your side who can help you consider what your finances may look like long-term if you were to pay spousal maintenance monthly. Beth Barbosa will not only assess your future finances in a variety of scenarios; she will also provide you with innovative options to optimize your finances during the negotiation process.
Receive Individualized Support from Your Family Law Attorney
Beth will provide you with the individualized attention you need to ensure all your needs are met throughout your divorce. She makes herself available to you based on your schedule, including on weekends. Beth is available through any of your preferred methods of communication, whether via cell phone, or email,. When you begin working with Beth, she will give you as much information about what to expect as possible and will continue to update you promptly with new developments in your case. She will see your divorce through from start to finish and will remain your ally throughout the process.
Beth Barbosa in Edina, MN will help you protect your assets to ensure your quality of life and future earning potential remain unchanged after your divorce. Contact Beth today to get started >
At the end of the day, it’s really not important who files for divorce first in Minnesota. If you weren’t the spouse who filed, you shouldn’t assume you’ll have a rough go in the divorce. However, if you are considering a divorce, there may be some small benefits of being the filing spouse. One benefit is the ability to consult several attorneys before deciding who you want to work with. After you file for divorce, your spouse will have a limited time to respond and may have to choose their attorney more quickly. If you are considering a divorce but neither you nor your spouse has filed yet, consider taking some time to find an attorney who will be right for your case.
The biggest mistake you could possibly make in any divorce is assuming how the situation will transpire. It’s very important to be prepared for anything when starting the divorce process; this is even more true when you’re dealing with complex or substantial assets. You might assume you know how you and your ex will react to the divorce and come to find out things are totally different, or you may think you’ll get to keep certain marital assets and come to find out that’s not the case. Whatever the scenario, you should remain prepared for a challenging divorce with the help of your high-asset divorce attorney. That way, any surprises will be pleasant.
Preparation is key. You should have a clear understanding of all the marital assets to be divided in your divorce, as well as pre-marital assets you and your spouse may have brought to the table. There’s nothing you can “do” about your assets now – it’s illegal to hide them or take some for yourself in the midst of the divorce. What you can do is hire a competent and experienced divorce attorney who is knowledgeable about high asset divorces. This is the best way to ensure a favorable outcome to your divorce because the right attorney can advise you on all the other necessary steps you should be taking to protect yourself.
Child support is based on a number of factors, but its intended purpose is to provide for the child. If you are concerned you won’t be able to agree to child support arrangements with your ex, there is a potential that the court will eventually have to make a ruling on the matter. If so, the judge will take into account both parents’ assets and income to ensure a respectable portion of that income is going towards keeping the child housed, fed, clothed, etc. In some cases, the custodial parent will have more than enough assets to provide financially for the child. In this case, they can agree that no child support will be paid by the other parent.
Don’t stress too much if you think your spouse is initially dishonest about his or her income and assets. Both parties in the divorce will need to produce financial documents that back up their claims, so his actual income will be divulged to you sooner or later. If you feel it’s possible that your spouse is purposely hiding assets, make sure to share that information with your attorney. Otherwise, just focus on preparing your own financial documents and getting your attorney information she’ll need to effectively negotiate on your behalf.
There isn’t a “standard divorce,” especially when there are substantial assets involved. The more assets you’re dealing with, the more opportunity you have to negotiate a favorable yet fair settlement. It’s true that you may have to take a disbursement from your retirement account to split with your ex during your divorce, but there may be other options based on your circumstances. That’s why we recommend working with a high asset divorce attorney specifically, instead of an attorney who may not have the experience negotiating substantial assets. Your attorney can help you understand what to expect when it comes to retirement accounts and all the other assets under scrutiny during your divorce.
Beth Barbosa is a great choice if you’re searching for a high asset divorce attorney. In fact, Beth focuses on representing individuals who are going through a complex high-asset divorce. She will help you easily navigate otherwise complicated issues such as property division, child support, and spousal maintenance. She will also help you address any other asset-related determinations that you and your former spouse need to make. Beth has worked with many business owners, physicians, and executives during their divorces and other family law cases, so she understands the challenges these types of professionals may face during a divorce when it comes to both their assets and the demands of their career.