High-Asset Divorce Attorney In Manhattan Beach, CA
Manhattan Beach is a beautiful beach community in the South Bay area of Los Angeles County, and it is home to many affluent couples that may eventually face very complex divorces. A high-asset divorce can be incredibly difficult to resolve without legal representation you trust on your side. If you are facing this situation, you need to consult a Manhattan Beach high-asset divorce lawyer right away.
Experienced Legal Counsel for High-Asset Divorce in Manhattan Beach, CA
Kramer & Zitser, LLP, provides responsive and results-driven legal representation for all types of family court matters in Manhattan Beach and the surrounding areas of California. We understand that you are likely to have several important financial concerns as a high-net-worth individual, and your divorce is likely to entail the division of complex assets.
Trust our Manhattan Beach divorce attorneys to provide ongoing support through every stage of your case. We have a proven record of successful representation in many high-asset divorce cases in Manhattan Beach, and we are confident we can fluently address any and all financial concerns you have. It’s important to start preparing for your high-asset divorce right away, and we look forward to representing you.
Common Problems in High-Asset Divorce Cases in Manhattan Beach
According to a 2022 study from US News, California had the seventh-lowest divorce rate in the United States, with 5.88 divorces per every 1,000 married women in the state. Divorce is more than ending a marriage contract; it is also a formal legal process of resolving property ownership rights over the property a married couple controls. California enforces a strict community property law that dictates each spouse will receive exactly half of all marital property.
In any divorce, but especially in high-net-worth divorce cases, defining the various assets and liabilities the couple controls can be difficult and contentious. Under the community property law, each spouse has the right to claim separate property, which can include anything they owned prior to marriage, as well as gifts and inheritance left only to them. Anything acquired by either or both spouses during their marriage is likely to qualify as community property.
Each divorcing spouse must submit a financial disclosure statement that carefully outlines all of their financial details. Both must provide complete and accurate tax returns, bank statements, investment records, and all other property ownership details. This ensures an honest and accurate assessment of all of the couple’s marital property as well as each couple’s separate property.
High-asset divorces often involve complex financial details such as stock portfolios, retirement accounts, business investments, cryptocurrency accounts, and much more. It is imperative that you hire a high-asset divorce lawyer who understands the financial concepts your divorce entails so you can proceed through this aspect of your divorce with peace of mind. Should any disputes arise, your attorney will know how to address them.
Kramer & Zitser, LLP, can help you make sense of this difficult situation, and you can also rely on our team to help you resolve the various other elements of your divorce, such as child custody, child support, alimony, and prenuptial agreements you and your spouse have in place. It’s important to start preparing for a high-asset divorce right away, so reach out to our firm at your first opportunity to learn more about the legal services we offer.
FAQs
What Is Separate Property in a California Divorce?
In a California divorce, separate property is anything owned solely by one of the divorcing spouses. This will usually include property they owned prior to marriage, property they have inherited from parents and other blood relatives, and gifts given only to them. Under certain conditions, it is possible for separate property to transmute into community property and therefore be subject to division.
What Counts as Community Property in a High-Asset Divorce?
In a high-asset divorce, community property typically includes any property and debts acquired by either or both spouses during their marriage. This can include income earned by both spouses, investment accounts, real estate, cryptocurrency wallets, stock portfolios, artwork, vehicles, and anything obtained using marital funds. A high-asset divorce requires carefully defining all community property and each spouse’s separate property.
What Are the Penalties for Hiding Assets in a High-Net-Worth Divorce?
The penalties for hiding assets in a high-net-worth divorce can be both civil and criminal. The judge handling the divorce could force the spouse who hid assets to pay for the other spouse’s legal expenses, and they could also receive a diminished share of marital assets to account for this behavior. Depending on the severity of their actions, they could also face contempt of court or even criminal prosecution for fraud and/or perjury.
Why Should I Hire a High-Asset Divorce Lawyer?
You should hire a high-asset divorce lawyer because this is an inherently difficult type of case to resolve. You need a legal advocate who has proven experience handling cases similar to yours, so you can feel confident that you will reach a fair and reasonable outcome to your case. The right attorney can help you complete a financial disclosure and resolve any disputes that arise during property division.
What Does It Cost to Hire a Manhattan Beach High-Asset Divorce Lawyer?
The cost to hire a Manhattan Beach high-asset divorce attorney depends on the lawyer’s billing policy. Most family law attorneys in California charge clients by the hour, so legal fees increase based on how much time the attorney must spend working on the case. High-asset divorces are inherently complex, and it is crucial to find an attorney who has proven experience handling these cases so you can resolve your case as efficiently as possible.
The team at Kramer & Zitser, LLP, has more than 50 combined years of experience providing client-focused legal counsel in a wide range of complex family court matters, and we are ready to put this experience to work for you. It’s important to start preparing for your divorce right away, so contact us today to schedule your consultation with an experienced Manhattan Beach high-asset divorce lawyer you trust.
