High Asset Divorce Attorney In Beverly Hills, CA
The divorce process in Beverly Hills can be filled with intense emotions, disputes, and stress, especially when you’re involved in a high asset divorce. Because high-asset divorces involve complex assets of high value that are often difficult to divide fairly, it’s crucial that you hire a Beverly Hills high-asset divorce lawyer who can protect your assets and your interests throughout all divorce proceedings.
Kramer & Zitser, LLP: Your Senior High Asset Divorce Lawyers
At Kramer & Zitser, LLP, we understand the intricate complexities of a high-asset divorce. In addition to having 50 years of combined legal experience, our Beverly Hills family law attorneys and legal team share a dedication to protecting the rights of California residents. We leverage that dedication, along with our in-depth legal knowledge and experience, to provide powerful divorce services for those seeking to protect their wealth in high-asset divorces.
What Is a High-Asset Divorce in Beverly Hills?
A high-asset divorce in Beverly Hills differs from the average divorce in that it involves a marital estate or shared net worth that is valued at $1 million or more. Because these types of divorces often feature complex, intertwined financial investments and holdings, they require the legal counsel of high-asset divorce lawyers and financial professionals to identify, value, and divide diverse assets.
In the fiscal year of 2022, over 114,000 family law cases regarding marriage issues and divorces were filed in California, many of which involved high-asset divorces. Key aspects that separate a high asset divorce from the average divorce in California include:
- Complex asset identification and valuation
- Intricate financial portfolios
- Business or real estate interests and holdings
- Hefty tax implications
Because of the intricate assets these divorces involve, professionals such as forensic accountants, tax professionals, and business valuators are often required to ensure accurate identification and fair distribution of property.
Community Property Laws and High-Asset Divorces
Because California is a community property state, family courts generally require an equal (50/50) division of all assets and debts acquired during marriage. However, because high-asset divorces include complex, high-value assets such as businesses, real estate, stock options, and intellectual property, dividing property fairly becomes a challenging process. Forensic accountants, appraisers, and experienced Beverly Hills divorce attorneys are needed to ensure accurate valuation.
While community property laws require all marital property to be divided equally in Beverly Hills, separate property must legally remain outside of the property division process. Separate property in Beverly Hills can include any assets or interests owned before your marriage, as well as any assets you received through inheritances or gifts while married.
Common Assets Involved in Beverly Hills High-Asset Divorces
The biggest difference between high-asset divorces and other divorces is the immense value and complexity of the property involved. Even though California is a 50/50 community property state, how you split assets is determined by both spouses, the court, or by a preexisting prenuptial agreement. It is critical that you take the time to identify, value, and prove ownership of all assets during your case to ensure fair division.
Common assets involved in Beverly Hills high asset divorces include:
- Family businesses
- Family homes
- Vacation homes
- Stocks, bonds, and other investments
- Retirement funds and 401 (k) s
- Joint bank accounts
- Cars, boats, and other vehicles
- Luxury property, including art, antiques, and furniture
- Commercial real estate and other real estate investments
- Debts and liabilities incurred during the marriage
Why Should You Hire a High-Asset Divorce Lawyer in Beverly Hills?
You should hire a high asset divorce attorney from Kramer & Zitser, LLP, to ensure your property is protected and that you receive the assets you rightfully own. High asset divorces in Beverly Hills can become complicated quickly, especially if one spouse is attempting to hide or undervalue assets. Our team works tirelessly to guide California residents through challenging divorces and is prepared to stand as your legal advocates throughout proceedings.
In Beverly Hills, divorce cases are generally handled through the Los Angeles Superior Court, with hearings typically held at the Beverly Hills Courthouse on Burton Way. Our team has experience working in these facilities and is ready to guide you through your case with knowledge and support.
FAQs
What Is Considered Separate Property in a Beverly Hills Divorce?
If you’re going through a divorce in Beverly Hills, it’s imperative that you identify all pieces of separate property to ensure they do not get divided during the divorce process. Separate property in Beverly Hills can include a variety of assets as long as they were obtained by a spouse before their marriage or received via gift or inheritance during their marriage.
How Can a Beverly Hills High-Asset Divorce Lawyer Help Me?
Because high asset divorces are more challenging than the average California divorce, working with a skilled divorce lawyer can come with immense benefits. An experienced high asset divorce lawyer not only has knowledge of the state’s divorce laws, but they are also aware of the complex processes required to identify, value, and divide property fairly. Working with a skilled high-asset divorce lawyer helps ensure your rights, interests, and assets stay protected.
Can You Move Money Around Before a Divorce in Beverly Hills?
Moving money to different accounts or taking it out before a Beverly divorce can be illegal if the intent is to hide, shield, or dissipate marital assets. While you may have technical access to joint funds, using them or moving them may trigger legal consequences such as charges of fraud, contempt of court, and a reduced share of the settlements. Courts often issue automatic temporary restraining orders prohibiting any transfer or hiding of assets when a divorce begins.
How Is Real Estate Divided in a High-Asset Divorce in Beverly Hills?
Because real estate investments and holdings cannot necessarily be split 50/50, your lawyer and your spouse’s legal counsel must work to find a fair agreement to divide properties equally. If you cannot make agreements outside of court, you may need to go through litigation, where a family judge will decide how to split your assets, including the real estate involved. In some cases, real estate may have to be sold, and profits may be split to ensure fair division.
Trusted High-Asset Divorce Attorneys in Beverly Hills
When you need an experienced Beverly Hills high-asset divorce attorney to help you navigate the complexities of family law and property division, Kramer & Zitser, LLP, has over five decades of combined legal experience to apply to your case. Our knowledgeable team can protect your assets as well as your privacy. Contact us to schedule your initial consultation today.
