In our region of highly educated and successful individuals, the division of assets and determination of spousal support can be complicated. There are many factors the courts consider in determining the equitable distribution of property including closely held businesses, professional practices, stock options and real estate. When not handled properly any divorce can be a tremendously trying time. This potential for difficulty is dramatically exacerbated when substantial assets and income are factors in the divorce.
The following issues are most likely to be severely impacted by high income and substantial assets:
- Child support — Correctly calculating child support obligations for children in a family where substantial income is present can become difficult when income is not received from ordinary employment. It is imperative to identify and determine income derived from multiple sources for the calculation of child support. Understanding the factors for deviation from the state guidelines for the established needs of your children is important.
- Alimony/Spousal Support — In high income situations the potential for substantial alimony obligations being awarded calls for a very thorough examination of all of the income sources and factors the state employs in determining alimony, including the standard of living established during the marriage.
- Division of property — When there are substantial assets like a business partnership, professional practice, franchise, stocks and investments or real estate interests owned during the marriage an understanding of how the court characterizes and values the assets is required to ensure an outcome that recognizes each party's contributions to the marriage and acquisition of assets.
AV Preeminent Rated* by Martindale-Hubbell's Peer Review Rating System
At the law firm of Kearney, Freeman, Fogarty & Joshi, PLLC in Fairfax, our high-asset divorce lawyers understand how to help clients achieve their goals for divorce when substantial income and assets are present. We bring decades of skill in the courtroom and in negotiating for our clients' best interests, and we can help you understand what your best options are and how best to pursue them.
Contact our Northern Virginia Attorneys for the Division of Real Estate and Other Assets
When you are divorcing, you need to do everything you can to ensure that you are able to secure a positive outcome, especially when substantial income or assets are a component of that divorce. Turn to the experienced Fairfax family law attorneys of Kearney, Freeman, Fogarty & Joshi, PLLC, in Fairfax, Virginia. To schedule your initial consultation, call 877-652-1553, or contact us online.
*AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the Bar and the judiciary. Martindale-Hubbell ratings fall into two categories: legal ability and general ethical standards.
