High-Asset Divorce Attorney In Malibu, CA
Divorces are always stressful. When financially successful couples dissolve their marriages, the situation can be even worse. Each party feels that they have a lot to lose. As California is a community property state, all marital assets and debts are divided evenly upon divorce. If you’ve found yourself in this position, you need to hire a Malibu high-asset divorce lawyer.
Trust Kramer & Zitser, LLP
Kramer & Zitser, LLP, has extensive experience in working with high-net-worth individuals. We know how to protect their wealth and property during divorce proceedings. Our Malibu divorce attorneys understand that you have unique concerns not applicable to the general public. We can exercise discretion so that you don’t have to give up any more of your privacy than necessary. If you’re looking for a Malibu high-asset divorce attorney, search no further.
Why Hire a High-Asset Divorce Lawyer?
Malibu is one of the richest cities in California. It has an average per capita income of $88,750 and an average household income of $192,159. Unsurprisingly, there are a lot of high-net-worth couples residing in the area. Given California’s divorce rate of 5.88 people per 1,000 residents, there are many high-asset divorces occurring every year in the city.
If you are facing a high-asset divorce, you need to hire a high-asset divorce lawyer as soon as possible. High-asset divorce attorneys are used to working with wealthy clients, so they understand the unique concerns they face, both during their divorce proceedings and because of their position in society. We know how to shield your privacy while taking all steps necessary to protect your assets and interests.
Our team has an in-depth understanding of high-asset divorce laws. We’ve handled countless high-asset divorce cases at the Los Angeles County Superior Court. Our firm has a clear understanding of what it takes to keep them out of the public eye. If you’re concerned about maintaining your privacy during this process, we can provide critical services toward that end.
What’s Considered a High-Asset Divorce?
A high-asset divorce is the dissolution of a marriage between individuals who own significant amounts of real estate or other forms of wealth, including businesses, stocks, bonds, and high-value property. If you have substantial assets, such as luxury properties or a successful business, it’s worth hiring a high-asset divorce lawyer in Malibu. These cases are often complex and require a strategic approach, including valuation and legal counsel.
What to Consider During a High-Asset Divorce
Several factors should be considered during a high-asset divorce. These include:
- Asset identification and valuation. During any divorce, the first step in property division is to identify which assets are considered community vs. separate property and have them valued. This process often requires the work of appraisers, accountants, and other financial professionals. We can arrange accurate assessments.
- Complex property division. Because California is a community property state, all community, or marital, property is divided evenly upon divorce. Unfortunately, dividing high-value assets, like businesses, real estate, and investment portfolios, can be complicated. You’ll need a lawyer who can negotiate on your behalf and formulate a strategic plan. They can make sure your assets are divided in a way that aligns with your financial goals.
- Spousal support. Spousal support, or alimony, is often a key issue in high-asset divorces. If one member of the couple was responsible for making most of the money used to support their lifestyle, the court may award significant spousal support payments. Factors such as each spouse’s financial situation, how long the marriage lasted, and what standard of living the couple enjoyed all apply when calculating alimony payments.
Key Steps in a High-Asset Divorce
The steps you’ll need to take in a high-asset divorce are similar to those during any divorce proceedings. You must:
- Consult legal and financial professionals.
- Gather and organize your financial documents.
- Identify separate vs. community property.
- Consider spousal support needs.
- Examine the tax implications.
- Negotiate a divorce agreement that protects your interests.
A skilled Malibu high-asset divorce attorney can manage this process while providing knowledgeable counsel.
FAQs
What Assets Are Untouchable in a Divorce?
Separate assets are untouchable in a divorce. These assets consist of any property owned before the marriage began, plus gifts, inheritances, and personal injury settlements obtained during the marriage. If you legally separate before divorcing your spouse, any property you gained after the separation is also considered separate property and is thus untouchable.
Are Expensive Divorce Attorneys Worth It?
Expensive divorce attorneys are worth it if you have a lot to lose. High-net-worth individuals often feel that it is more than worthwhile to pay the legal fees associated with highly skilled family law attorneys in Malibu. They also have a greater need for exceptional legal representation because they have more assets to protect. Reach out to a member of our team to find out what to expect in terms of legal fees.
How Do People Hide Assets in a California Divorce?
People hide assets in California divorces in many ways. Some of the most common methods include:
- Temporarily giving money or property to family or friends
- Hiding money in offshore accounts
- Delaying compensation from employers
- Overpaying taxes or debts
- Underreporting business income
- Intentionally undervaluing businesses, real estate, or other assets
A lawyer can identify these and other forms of asset hiding.
How Do I Financially Protect Myself in a Divorce?
You can financially protect yourself in a divorce by hiring a high-asset divorce lawyer. Their work can be crucial if you have a lot of money or property to be divided during the divorce proceedings. While a lawyer cannot prevent the equal distribution of assets, they can protect your interests and make sure your partner is not hiding anything.
Your Malibu High-Asset Divorce Lawyer
If you’re a high-net-worth individual concerned about keeping your wealth and property safe, you’re not alone. Malibu has a high percentage of high-net-worth residents. If you’re one of them, you need to hire a Malibu high-asset divorce lawyer to assist with the dissolution of your marriage. There’s too much at risk to delay protecting your interests. Trust the experienced team at Kramer & Zitser, LLP, to safeguard what’s yours. Contact us to schedule an initial consultation today.
