Palm Beach, Boca Raton, Wellington and Jupiter have been the locations where divorcing couples have had expensive dissolution of marriages. Experienced family law attorneys know that divorce in Palm Beach County can be expensive, but until recently they did not know just how much it might cost…
In May, a Swiss court ordered Dmitry Rybolovlev, also known as the “fertilizer king” to pay his ex-wife Elena, over 4 billion dollars in their divorce decree. In addition, the part-time Palm Beach resident was ordered to pay $100,000 worth of child support per month for their youngest daughter Anna. Although the judgment will likely be whittled down in appeals, it should be a cautionary tale that those people with a high net worth and no prenuptial agreement may pay the ultimate price.
Most state dissolution of marriage laws follow either the equitable distribution or community property principles of asset division, which, without a “prenup,” can entitle a less wealthy- or non-earning spouse to a large portion of the marital estate, regardless of his or her own net worth before marrying. Florida follows equitable distribution principles of asset and debt division. The starting point for equitable distribution in Florida is that a spouse will generally be presumed to receive 50% of the value of the marital estate (with some exceptions).
With a few exceptions, the marital estate (which can be divided by the court) is comprised of the assets acquired during the marriage, whether individually or jointly, and all debts accumulated during the marriage, whether individually or jointly. For this reason, it is critical that high net worth individuals with assets or beneficiaries to protect, insist on the signing of a prenuptial agreement before their marriage.
Florida High Net Worth Dissolution of Marriage Attorney
Board Certified Marital and Family Law Attorney Charles D. Jamieson understands that divorce is an extremely sensitive and important issue. Thanks to extensive experience and a focus on open communication, Attorney Jamieson adeptly addresses the complex issues surrounding dissolution of marriage while delivering excellent personal service. To discuss divorce in Florida, please contact The Law Firm of Charles D. Jamieson, P.A.The Law Firm of Charles D. Jamieson, P.A. or call 561-478-0312.
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