High-Asset Divorce Attorney In Bel Air, CA
High-asset divorces are an especially complex type of divorce, and many divorcing couples in Bel Air must deal with these financial difficulties. Spouses want to protect their financial interests, both for themselves and their family, which can increase tensions during the process. When high-net-worth couples are filing for divorce, it’s important to work with a Bel Air high-asset divorce lawyer to navigate the divorce more successfully, quickly, and privately.
Kramer & Zitser, LLP: Dedicated and Exceptional High-Asset Divorce Attorneys
Obtaining experienced legal support is crucial for accurately valuing assets and debts, determining whether property is marital or separate, considering tax implications, and fairly dividing property. At Kramer & Zitser, LLP, our firm comprises two senior attorneys with decades of experience on our team. We help you through each complex aspect of a high-asset divorce case.
You are not alone. The U.S. Census Bureau reported a rate of 5.9 divorces per 1,000 women aged 15 and over in California in 2022. Although no one expects to get a divorce, couples who do generally do so because it is the right choice for them. You shouldn’t have to face the divorce process alone, either. Our attorneys, several of whom are Certified Family Law Specialists, can help you navigate unique issues like prenuptial agreements, business ownership, investments, celebrity status, and luxury personal property.
We can help you work towards the ideal outcome in your divorce case. Divorces in Bel Air may be filed with the West Judicial District or the Central Judicial District. The closest family law court to Bel Air is the West Judicial District Santa Monica Courthouse, located at 1725 Main Street.
Community Property Laws and Complex Assets
Under California community property laws, spouses have equal claim to the marital property, and the courts divide that property equally. Nearly 20% of the population in California had an income of $200,000 or higher, according to the U.S. Census Bureau. Protecting your assets and financial future is essential as you navigate a divorce.
- Marital property, also called community property, is nearly any property gained by either spouse during the duration of the marriage.
- Separate property is property each spouse owned prior to the marriage, after separation, and certain assets gained during the marriage, like an inheritance given to one spouse.
While separate and marital property seem straightforward, they can become complicated. Separate assets can become marital through accidental commingling or purposeful transmutation, and it can take time and considerable documentation to return them to separate assets. Additionally, spouses must prove that an asset secured during the marriage meets one of the qualifications to be considered separate.
It takes time to categorize assets and debts as separate or marital, and this process is even more time-consuming in high-asset divorces. Property must also be evaluated, as the division of assets should be fair and equal. This also takes time, especially with complex assets like businesses, investments, and other property with uncertain values.
Other Complex Issues in High-Asset Divorces
High-asset divorces must also consider other unique issues, such as:
- Alimony addressing disparity of income, which may be significant, leading to potential substantial alimony awards
- Child custody agreements that addressed international travel and vacations
- Child support that must consider the child’s higher standard of living and exceptional costs like private schooling and luxury vacations
- The potential of one or both spouses hiding separate or marital assets, impacting the division of property
- Privacy concerns for celebrity or otherwise high-profile couples and their children
At Kramer & Zitser, LLP, we understand these unique concerns that affect high-asset divorces, and we can help you navigate them and protect your family.
FAQs
Q: How Much Does a High-Asset Divorce Lawyer Cost in California?
A: The cost of a high-asset divorce lawyer in California may be higher than that of a typical divorce lawyer, because these cases are very complex. The average cost of a California family lawyer is $368 per hour; however, this fee is likely to be higher for high-asset divorces that require professional asset evaluation, financial forensic accountants, and other specialized professionals.
High-asset divorces often take longer to resolve, resulting in increased overall costs.
Q: What Type of Lawyer Is Ideal for a High-Asset Divorce?
A: When you are getting a high-asset divorce, you need a divorce and family law attorney in Bel Air with experience in cases like yours. This includes experience in evaluating and dividing high-value and complex assets, as well as maintaining discretion and privacy.
High-asset divorces take time to evaluate assets and debts and determine whether that property is separate or marital. If a divorce attorney lacks experience in high-asset cases, they are unlikely to possess the necessary resources to handle these cases efficiently.
Q: How Does an Attorney Help With a High-Asset Divorce in California?
A: An attorney helps with a high-asset divorce in many ways, including:
- Accurately valuing high-value and complex assets like multiple homes, commercial real estate, businesses, and other assets.
- Defending your financial interests, both short-term and long-term
- Helping spouses reach an agreement outside of court that the court will likely approve, giving couples more control over asset division
- Helping minimize and account for the tax implications of asset division
- Enforcing the terms of an existing prenuptial agreement
Q: How Can You Protect Your Assets in a Divorce Property Division?
A: The most effective way to protect your assets in divorce property division is to work with an attorney to negotiate and safeguard your fair share of assets.
If you are not getting a divorce, you can preemptively protect your assets by creating a prenuptial agreement. When you and your spouse negotiate a prenuptial agreement, you can protect your interests in certain assets, ensuring your financial interests are taken care of in the event of a potential divorce.
Work With Kramer & Zitser, LLP in Bel Air Today
At Kramer & Zitser, LLP, we take several actions to protect you and your family’s privacy, including using non-disclosure agreements and secure communication channels. We collaborate with valuation professionals, forensic accountants, and tax advisors to accurately categorize and evaluate properties, thereby devising a fair valuation.
We understand the significant impact that the outcome of this case can have on your life, and we want to advocate for the most ideal outcome possible. Contact our firm today and learn how we can help you navigate a high-profile and high-asset divorce in Bel Air.
