Some of the issues we must address in high-income divorce cases include:
Spousal support: If one spouse has no income or assets, a temporary spousal support order is almost a certainty. Also, spouses should be aware that long-term or permanent spousal support calculations are based on the standard of living during the marriage. If your ex-spouse strikes it rich after the divorce, the family law court won't entertain a motion to increase spousal support payments beyond the marital standard of living.
Assignment of attorneys' fees: If one spouse has little or no income or assets, the divorce court may require the other spouse to pay attorneys' fees, including a temporary order for payment of partial fees so the non-earning spouse may obtain competent legal representation from the outset of the case.
Property division: The date of separation becomes critically important to determine when certain types of assets revert to separate property from community or marital property. This is especially true with investment accounts and pensions, which will continue to grow in value during the divorce proceedings. This question is related to the investigative accounting work that must be done to trace all of the property to determine whether it is community property or separate property.
Breach of fiduciary duty: Spouses must use due care when managing marital assets. In high-asset divorces, accusations of mismanagement of marital funds are commonly made and must be defended against.
Division of family businesses: What portion of a family-owned business will be granted to each spouse? What if you owned a business before the marriage began? Will your spouse get any share of the business' growth? How will business valuation be handled? These are examples of the complex questions that must be asked when closely held or family businesses are included in the marital assets.
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