Terri Herron Law
Call Us Today To Schedule A Free Consultation

Terri Herron Law is OPEN! We understand your needs do not stop and we are committed to helping you each step of the way. We are taking measure to ensure we can provide the same quality legal representation while putting your health and safety first. We offer phone and video consultations and our court system is doing the same. Call today to schedule your consult.

Put Your Mind At Ease
During life’s toughest transitions, we’re here for you.
  1. Home
  2.  » 
  3. Child Custody Matters
  4.  » High-asset divorce and child custody

High-asset divorce and child custody

| Jun 5, 2020 | Child Custody Matters |

When it comes to the divorce process, those with significant assets are often especially concerned about various issues related to ending their marriage, including property division and their financial obligations following the divorce (such as alimony and child support). Moreover, some who are involved in a high-asset divorce worry about their custody rights and how their finances will impact their ability to secure custody of their child.

It is important to note that there are a lot of factors that courts consider when making custody decisions. However, the financial circumstances of parents are taken into account.

When one parent earns more

Sometimes, people assume that when one parent earns far more than the other they will have the upper hand during a custody dispute. However, this is not necessarily true, since courts review many different factors when determining which outcome will serve a child’s best interests. In some cases, one parent’s financial situation is beneficial and increases their odds of a favorable outcome. That said, parents with a modest income are also able to secure custody in many instances and receive support from the other parent.

Your child’s future

Finances play a key role in a child’s success and their future options, such as attending college and so on. However, there are many other issues that arise when it comes to custody matters, divorce and a child’s well-being. As a parent, it is imperative for you to safeguard your child’s future and do your best to help them deal with uncertainty or other difficulties during and after your divorce. Our website covers a lot of other topics related to child custody, feel free to review this information to learn more.