High Asset Divorce Attorneys In Brentwood, CA
Divorce is often complicated, but when you have substantial assets such as businesses, homes, and investments, it can increase the complexity. A Brentwood high asset divorce lawyer can guide you through the legal process and help protect your rights and financial interests.
Kramer & Zitser, LLP, is a family law firm formed by two senior Brentwood family law attorneys. Together, they have over 50 years of experience helping clients navigate complex family law matters, including high-asset divorces. We have a reputation for getting results, and we understand that each of our clients is going through a difficult time and deserves our compassion as well as legal knowledge.
What is a High Asset Divorce?
Between 2022 and 2023, there were 111,894 marital filings in California. While many of these were standard dissolutions, legal separations, and nullities, some involve more complex financial situations.
A high-asset divorce involves a couple with significant wealth or a number of complex, high-value assets as part of the marital estate. The assets in these cases sometimes include:
- Extensive securities and investment portfolios
- Trusts
- Business ownership
- Equity holdings
- Multiple real estate holdings, Intellectual property
- Executive compensation, stock options, deferred income
- Hedge funds
Dividing Assets in a High-Asset Divorce
California is one of the few states with community property laws. Under this rule, both spouses are considered equal owners of all assets acquired after the date of their marriage. In the case of a divorce, this community property is divided equally. The only exception to this is if they had a prenuptial agreement that determines a different allocation of assets.
Separate property is property that belongs to just one spouse. It could be assets they had before the marriage, an inheritance, or a gift specifically left to just one spouse. Separate property stays with the original spouse after divorce.
Dividing an estate in a high-asset divorce case requires the skill of an experienced Brentwood divorce attorney familiar with high-asset divorce laws. The complex process includes:
- Consulting with legal counsel
- Gathering and organizing financial documents
- Identifying community and separate property
- Evaluating spousal support needs
- Considering tax impacts
While many divorces are resolved by negotiation and mediation, high-asset divorces may involve litigation in the Spinetta Family Law Center in Martinez, CA. This is especially true when spouses are disputing asset division or spousal support.
Common Challenges in High-Asset Divorce Cases
When a divorcing couple has a number of high-value assets, the entire process includes some complexities beyond what you might see in other divorces. These include:
- Hidden assets. In some divorce cases, one spouse may try to hide or undervalue assets to avoid splitting the value. Your attorney may work with a forensic accountant to uncover anything your spouse tried to conceal.
- Business valuation. If you and your spouse own a business, it can be difficult to determine its value and decide how to divide ownership. A forensic accountant can work to assess the business value, while your attorney can provide guidance on whether a buyout or continuing joint ownership is the optimal way forward.
- Complex investment portfolios. High-asset divorces often involve investment portfolios with stock, retirement funds, and other financial tools. These financial assets need careful evaluation to help make their division equitable.
Hire a High-Asset Divorce Lawyer
When a divorce involves large assets or complicated financial situations, an experienced Brentwood high asset divorce attorney can help you avoid expensive mistakes that could have long-term consequences. Your attorney can provide:
- Asset protection by identifying and protecting real estate and business holdings
- Professional financial strategy by coordinating with business appraisers, CPAs, and forensic accountants.
- Compliance guidance by demanding disclosure of assets and debts from your spouse.
- Negotiation and litigation skills by representing you in negotiations with your spouse’s legal team and representing you in court if necessary.
Navigating the California legal system in a divorce can be complicated and should be done with experienced legal representation by your side. An attorney can keep you compliant with California law and make sure your spouse is also complying with applicable laws.
FAQs
What Assets Cannot Be Split in a Divorce in California?
Separate property cannot be split in a divorce in California. Separate property is property that was acquired by one spouse before the date of the marriage or was specifically given to them as a gift or as an inheritance. It can include real estate, vehicles, jewelry, bank accounts, and investments.
Is Spousal Support Different in a High-Asset Divorce in California?
Spousal support can be treated differently in a high-asset divorce in California. The court may consider maintaining the marital standard of living rather than using the standard formula for determining support. High-asset households often have more complex compensation arrangements, greater income inequality, and irregular sources of income, which add to the complexity of the divorce.
Is Moving Out a Big Mistake in a High-Asset Divorce?
Moving out during a divorce can be a mistake in a high-asset divorce because if one spouse continues to pay the mortgage and other household expenses, it may be taken into consideration in the final financial division. Moving out may also limit your access to important financial paperwork and affect how the court views your case.
What Are the Biggest Mistakes to Avoid in a High-Asset Divorce?
Some of the big mistakes to avoid in a high-asset divorce include undervaluing assets and overlooking the long-term impacts of your decisions. Failing to disclose financial information or hiding assets is another big mistake. California Family Code § 2104 requires full disclosure, and failing to do so can lead to serious legal consequences.
Contact a High-Asset Divorce Attorney in Brentwood
If you are facing a divorce in Brentwood, CA and you and your spouse have accumulated significant assets, it’s necessary to hire a high-asset divorce lawyer. Contact Kramer & Zitser, LLP., today to discuss your case. We can guide you through the process, help protect your financial interests, and serve as your advocate at the negotiation table, in mediation, or in court if necessary.
We can help you keep your financial future safe. We take proactive steps to protect your share of the marital assets and help you update estate planning documents to develop a post-divorce financial plan.
