Sarasota High-Net-Worth Divorce Lawyer

Sarasota High-Net-Worth Divorce Attorney

No matter what the circumstances are, divorce is a difficult matter. When it comes to dividing up debts and property, especially in cases where the couple shares a high net worth, the divorce can become even more complicated. Whether you are living in Sanderling on Siesta Key or own a boat behind the gates of the Longboat Key Club, you want to protect that which you have worked so hard to build. An experienced Sarasota high-net-worth divorce lawyer can help.

Trust Your Divorce to the Team at Ruhl Law, P.A.

At Ruhl Law, P.A., we understand how challenging divorce can be and want to help ease some of that burden. Since our firm was established in 2011, we have helped hundreds of individuals just like yourself get through the difficult legal matters of divorce.

You can trust our team to protect your interests as they relate to your significant assets and the protection of your property. Let our firm come alongside you today and provide you with the legal care you deserve at this time.

Understanding What Happens During a High-Net-Worth Divorce in Sarasota

Married couples living in Sarasota see a median income per household of around $106,200 a year, and with the average home price in the area at around $535,000, many divorce cases involve a significantly high amount of assets.

Because of the complexity that is often involved in a high-net-worth divorce, experienced legal knowledge is necessary to understand and plan for possible tax implications and the diversity of assets involved. The most common assets typically involved in a Sarasota high-net-worth divorce case include:

• Real estate: Outside of the marital home, high-net-worth couples are also more likely to own vacation properties, rental properties, business properties, and investment properties.
• Retirement accounts or pensions: These might include IRAs, 401(k)s, pensions, and other long-term savings.
• Luxury items: Many high-net-worth couples in Sarasota own a number of complex and luxury items that will be affected in a property division. These can include boats, vehicles, fine art, jewelry, antiques, and other high-value collections.
• Business interests: If either spouse has any kind of ownership stakes, partnerships, professional practices, or family-run businesses, these will be affected by a divorce, and it is crucial to hire an attorney who has experience handling these kinds of assets.
• Investment portfolios: This can include any kind of mutual funds, stocks, bonds, and other financial securities.
• Trusts and inheritances: If the couple has created any kind of family trust or if there is any inherited wealth or similar financial structures in play, it is important for an attorney to review these to see what is subject to division and what can be protected.
• Offshore or hidden assets: Some high-net-worth couples may have international investments or holdings of cryptocurrency. It is also more common for there to be hidden or undisclosed financial interests in these cases. An attorney can review your case in order to uncover any of these assets and protect your rights to them.

Common Issues That Occur in a High-Net-Worth Divorce Case

All divorce cases can be challenging. However, when the couple owns a significant number of highly valued assets between them, issues common to all divorce cases only become more complex. These common issues include:

• Valuation of assets: It is crucial that all assets are properly evaluated so that the division can be fair to all involved parties.
• Spousal support: In high-net-worth cases, issues of spousal support are more apt to arise, and it is important to have a lawyer who can help determine the fair and reasonable amount of support involved based on income, future earning potential, and standard of living.
• Marital agreements: When prenuptial or postnuptial agreements are in place in a marriage, enforcing or contesting these agreements and how they affect property division will require the knowledge of a seasoned attorney.

FAQs About Sarasota, FL High-Net-Worth Divorce Law

​How Are the Children Affected by a High-Net-Worth Divorce?

In a high-net-worth divorce, children can be affected in a multitude of ways. Custody and support issues regarding minor children will need to be addressed, and there could be other, unique considerations for couples in high-net-worth divorces when it comes to their children. These considerations include inheritance or estate planning (only around 46% of Americans have an estate plan), as well as expenses for private school tuition and extracurricular activities.

How Can an Attorney Help Me?

An attorney can help you in several ways when it comes to a high-net-worth divorce case in Sarasota. First, your attorney is here to protect your financial interests and preserve your privacy. At Ruhl Law, P.A., we are also here to guide you with dignity and respect throughout the case, and advocate for the most positive solutions or bring your case to court should the need arise.

What Assets Are Protected in a Divorce?

In a divorce, there are certain assets that are protected from the required property division in Florida. These assets are known as separate property. Separate property includes any assets or debts that were acquired by either spouse prior to the marriage, or anything that one spouse acquired through an inheritance or gift.

How Long Can a High-Net-Worth Divorce Take?

The amount of time it takes to reach a conclusion for a high-net-worth divorce will ultimately depend on the factors of the case. These factors can include the complexity and nature of the assets involved in the divorce, the availability of the courts, and the willingness to cooperate shown by the involved parties.

Hire a High-Net-Worth Divorce Lawyer Near You Today

If you are facing a high-net-worth divorce case in Sarasota, you do not have to face it alone. When you hire a high-net-worth divorce lawyer from Ruhl Law, P.A., we are here to come alongside you and offer you the compassionate legal care and guidance necessary during this time. Let us review your case today and tailor our counsel and representation to fit your unique needs. Contact our offices and schedule a free consultation today.