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Atlanta High-Asset Divorce Law Blog

Modifying a child support order when circumstances change

Child support orders are based partly on the child's needs and partly on the paying parent's income. When the paying parent's income drops, due to job loss or other financial pressures, it can become impossible to live up to an old child support order. Falling behind in child support payments can cause terrible financial problems.

One particularly difficult child support dispute involves movie mogul Harvey Weinstein, who is undergoing a very public downfall after he was hit with a plethora of sexual harassment allegations. After the allegations came to the surface, Weinstein was fired from the production company he founded, along with his brother. Now, he faces a dispute over his child support obligations.

What is forensic accounting and when is it needed?

Forensic accounting can be defined as a combination of traditional accounting, investigative skills, auditing and compilation of evidence to be used as viable evidence in a court case. A forensic accountant is highly trained to take a very in-depth dive into the financial records and history of a company or individual. He or she will look much further than just the numbers, taking into consideration the nature and scope of the business as well. They will then summarize their findings for a clear, concise presentation to the court.

Prenups aren't as ironclad as you might think

A long time ago, we wrote a post about a prenuptial agreement that was upheld by a judge after it was legally challenged. That post brought up an interesting topic that we would like to expand upon today: when you challenge a prenuptial agreement, what are some common grounds that are used to support the claim?

This question is important because many people think that prenuptial agreements are somehow immune to legal challenges. While it is true that many judges don't like to interfere with prenups, it is not true that they are immune to a challenge. There are acceptable reasons to challenge a prenup that could lead to the prenup being changed or tossed out.

3 ways to safeguard your business in a divorce

You have poured your heart and soul into your business venture, and now you are getting a divorce. If you have concerns about losing all your hard work to your wife, you are not alone. A company is often one of the most valuable assets in a divorce. You do not want to see it all go away during the property division process. 

Is it possible to protect your business in a divorce? Yes, it is. Here are some strategies for safeguarding your company while you dissolve your marriage. 

3 tips for stay-at-home moms looking for a job after divorce

Divorcing as a stay-at-home mom can be daunting. You might be wondering how you will be able to financially support yourself. Although you might get some alimony from your soon to be ex husband, this may only be a temporary solution. You might have to re-enter the workforce for the first time in many years. 

Getting a job after being a stay-at-home mom can be a daunting idea. Where do you even start? It might seem impossible, but many women have done it, and you can, too. Here are some steps you can take to help get a job after divorce. 

Personal injury award not a marital asset

There are times when a catastrophic personal injury and the physical pain, suffering and reduced quality of life takes a toll on a Georgia marriage. Such tragedy may even cause a divorce.

If the personal injury was due to the negligence of a third party, the injured spouse may have made a claim for compensation. If that spouse received a large sum award, which can easily reach into the millions for a very serious injury, the family may have started using that money to maintain their lifestyle. Alternatively, the insured spouse may have invested it. But either way, a substantial asset is cause for consideration when it comes to distribution of assets in a divorce.

3 tips for anybody entering a high asset divorce

You have worked hard your whole life, and you enjoy the success that resulted from your hard work. If you are currently dealing with the stress of a divorce, it can be overwhelming to deal with the life changes you are undergoing as well as the pressure to maintain your assets. You do not want to see the fruits of your labor drained by your ex as your marriage comes to an end. 

According to the Huffington Post, states divide marital assets either by equitable distribution or community property. Regardless of which state you are in, if you have high assets, you should take the following tips into consideration as you approach your divorce.

Divorcing spouses use many means to find hidden assets

If divorce is on your agenda and you suspect your spouse is hiding assets, an investigation is in order. Today, anyone interested in finding out what a soon-to-be ex is up to can use both traditional and electronic methods to look for evidence of financial infidelity.

Clues to financial misdeeds are available in many places, and you can begin the search right now.

Equal time-sharing custody order can be stressful for children

Joint custody with equal time sharing between two parents is an initial presumption for a child custody order in many states and in the minds of many family law judges. In reality, these kinds of custody plans may end up taking a toll on the children involved. The system is generally handled better in Georgia and some other states where the courts are not saddled with an initial presumption that joint custody and equal sharing is the first preference.

In the joint custody arrangement, some kids have to spend two and one-half days with each parent during the Monday through Friday school schedule. When the parents live miles apart, it can be a grueling ordeal to put the children through, especially in light of their need for some sense of stability to facilitate the completion of their homework and participation in extracurricular activities. Courts tend to view joint custody in a little more rational light by fashioning more flexible and less formal plans. The courts will tend to steer away from a strictly equal division, but, in some instances, one or both parents demand equal time down to the minute and hour.

Divorce and baseball ownership raises financial concerns

The economic status of a baseball team during the owner's divorce has been a sore point of contention in some cases in recent years. Luckily, the issue has not come up in Georgia, but the latest incident is the current divorce case of the Astros owner Jim Crane and his wife, Franci Neely. Although news reports have raised concerns that an announced settlement will impact the team, Crane and team spokespersons have adamantly denied any connection between the two.

In this case, the denials are likely true in that Neely appears to have no interest at all in the team. The reason for the rather obsessive questions on this issue may stem back to the 2011 contentious divorce proceedings between another owner of a major league team and his wife. In that matter, the wife was actually the CEO of the baseball team, causing complications that extended into various aspects of team finance and even resulted in a bankruptcy battle.

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