If you have achieved a position of leadership in your profession, you may be concerned about the impact of a divorce. You may feel vulnerable financially and worry about reputational damage.
The lawyers at the Riley Divorce & Family Law Firm understand the unique needs of prominent high-net-worth individuals facing divorce. We have years of experience managing divorce for lawyers and executives in Ottawa with discretion and exceptional skill.
Ontario Family Law Act s.5(1) requires equalization of the financial benefits the spouses derived from the marriage. Accurate calculations of the net family property require evaluations of all assets, including executive compensation packages and partnership interests.
High-level executives in Ontario often receive a base salary, performance-based bonuses, equity compensation such as stock options or restricted share units, and generous severance packages. They may also receive significant perks such as wellness benefits, club memberships, the use of company properties for recreation, and company cars. Lawyers in private practice may receive a salary or a share of the firm’s profits as well as performance-based bonuses and origination fees.
Accurately calculating the value of deferred and non-monetary compensation is essential in divorce. Our divorce lawyers in Ottawa have a sophisticated understanding of complex executive compensation packages and a network of financial professionals who could assist in assessing any tax implications during the property division process.
Although the law calls for equalization, you can make different arrangements if you and your spouse agree. Executives, lawyers, and other high-earning individuals in Ottawa often enter into marriage contracts that designate the distribution of their property long before they start considering divorce.
If you eventually decide to end your marriage, you or your spouse may decide to challenge an unfavorable domestic contract. A judge may set aside all or part of a marriage contract when the spouse challenging the agreement can prove that:
Even when a marriage contract was fair at the time you and your spouse agreed to it, changes in your finances since you executed the agreement could render the contract unconscionable as of your separation date.
Our lawyers could review your marriage contract and determine whether it is vulnerable to challenge. If so, they could aggressively challenge or defend the agreement to accomplish your objectives in divorce.
Your professional and social prominence depend on your reputation. When private matters become public in a divorce, your reputation can suffer, and the consequences may spill into the public-facing areas of your life.
At the Riley Divorce & Family Law Firm, we strive to resolve divorces for Ottawa lawyers and executives efficiently and with the utmost discretion. It is our goal to keep these matters out of court. We could support you through mediation or the collaborative divorce process to ensure confidentiality.
We are skilled negotiators and could work with your spouse’s legal counsel to create an acceptable settlement agreement. When it is necessary to file sensitive information with the court, we could ask that it be sealed and access restricted.
Some aspects of divorce can be challenging to navigate for lawyers and executives in Ottawa. Fortunately, the lawyers at the Riley Divorce & Family Law Firm have the skills and experience to meet your divorce objectives efficiently and discreetly. We are always available, so reach out today to discuss your concerns about divorce.
Now you can have your Consultation with Paul Riley any time from the comfort of your own home. With video calls from Zoom, your Team at The Riley Divorce & Family Law Firm can meet with you virtually, and learn about your case. All you need is a smartphone, tablet, laptop, or desktop with a built-in camera and microphone.
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