What are the 3 Key Secrets for a Successful High Net-Worth Separation or Divorce in Ontario?
Today, more than ever, spouses going through a high net-worth separation or divorce want to protect their money and assets in these difficult times.
However, you must be careful in these more complicated separations and divorces or you face some serious family law problems.
Hi, my name is Thomas O’Malley. I’m an experienced family lawyer in Durham Region and the GTA.
Here’s three key secrets for a successful high-net worth separation or divorce in Ontario:
1. Provide Full Financial Disclosure to Your Spouse
You may be tempted to hide money and assets. This is a really bad idea. You will lose your credibility with your own lawyer and your spouse’s lawyer when you hide assets.
It gets even worse when you are in family court. The judge can impose some serious financial penalties against you if you hide assets and do not produce the required financial information.
Work closely with your family lawyer to produce full financial disclosure for your former spouse.
If you have suspicions that your spouse is hiding assets, definitely tell your lawyer. Your lawyer can make some excellent suggestions on how to deal with this tricky issue.
2. Be Mentally Prepared for Dealing With The Family Law Issues in Your Case
It can be really difficult to deal with the financial issues in your separation or divorce when you have worked so hard to build your business and create a solid investment portfolio for your retirement.
You need to step back and use the same business mind that created your success business or career to resolve the financial issues in your separation or divorce. It certainly can be difficult to do that.
However, you will get the best results when you take a business-like, professional approach to settling your family law issues.
Of course, work closely with an experienced family lawyer to help you protect your family law rights and get a fair and reasonable settlement with your former spouse.
3. Get Excellent Tax Advice
You need to speak to a tax expert who works closely with your family lawyer to minimize your tax liabilities in dealing with the investments and assets in your separation or divorce.
You can structure your separation agreement or final court settlement to reduce your tax liabilities.
Make sure you spend some time with your family lawyer discussing these important issues in your separation, divorce or family law case.
If you have any questions about your separation, divorce or family law case and you would like our help, there’s a few ways to contact our office.
You can leave a message on my Facebook law office page, visit my website at www.canadiandivorcelegaladvice.com, or call me directly at 905-434-8837. We would be happy to speak to you.
Oh, by the way, did you know you can protect your family law rights and get essential information on settling your family law issues with your former spouse with the daily indispensable family law advice and tips at my FREE Facebook group?
Click here to find out more: Durham Region Separation and Divorce Legal Support Group
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