Qualified High-Asset Divorce Attorney in Pacific Palisades, CA
With a high-asset divorce comes additional challenges with property division. Not only are there complex assets such as high-value real estate or investments, but even small issues can lead to large dollar amount differences between spouses. A Pacific Palisades high-asset divorce lawyer can make sure your property division plan is fair and based on accurate financial information.
Kramer & Zitser, LLP: Work With an Experienced Pacific Palisades High-Asset Divorce Attorney
With over 50 years of combined experience, Kramer & Zitser, LLP provides experienced guidance and legal representation in high-asset divorces. Our firm is led by two senior attorneys, Brian Kramer and Diana Zitser, who are both Certified Family Law Specialists.
Our Pacific Palisades divorce lawyers understand how difficult the divorce process can be, both due to the emotional challenges and the complex high-asset divorce laws, and we seek to make this process easier through compassionate legal guidance.
High Asset Divorces in Pacific Palisades
Divorce is common in Pacific Palisades. In California, there were 108,403 marital cases filed in the 2024 fiscal year, including divorces, separations, and nullities. In Los Angeles County, 7% of men and 9% of women are divorced.
Many Pacific Palisades divorce cases are considered high-asset divorces due to the involvement of significant assets. While there is no strict legal definition of a high-asset divorce, these cases typically involve over $1 million in marital assets.
Types of Assets Involved in High-Asset Divorce Cases
High-asset divorce cases tend to involve a variety of valuable types of property, many of which can be difficult to value or are not easy to divide. Because of the complexity in a high-asset divorce case, it is a good idea to speak with a Pacific Palisades high-asset divorce attorney who can analyze your marital estate and help you determine a favorable property division strategy.
Real estate is often one of the most significant assets in a Pacific Palisades marital estate, as the average home value is $3,044,325. This can be even higher in neighborhoods such as The Riviera or Amalfi Drive. This means that even owning a single home may mean you have a high-value estate.
However, your home is not the only asset to consider. Other types of assets commonly involved in a high-asset divorce case include:
- Financial accounts
- Investment portfolios
- Business assets
- Valuable vehicles and other personal property
Important Steps in a High-Asset Divorce Case
Adhering to California’s high-asset divorce laws and achieving fair property division requires you to follow a few key steps. While every case involves specific factors that impact the divorce process, some of the most important steps in a high-asset divorce case include:
- The discovery process. During this phase of a case, you and your spouse are gathering and exchanging financial information. This allows you to move forward with a clear picture of your financial situation and what assets are in the marital estate.
- Determining separate and community property. Next, a lawyer can help you identify whether assets are subject to division or are separate property.
- Valuing assets. Valuing assets is an important step as it involves determining the actual value of assets. This is particularly important for assets whose value changes over time, such as investment portfolios or real estate.
- Discussing property division plans. You and your spouse should speak about your financial goals and how you would like to split certain assets. If you hire a high-asset divorce lawyer, they can suggest fair plans that reflect your personal financial interests.
Many high-net-worth couples prefer to settle their divorce outside of court as it offers more privacy while allowing them to maintain control over the outcome. However, in cases where you cannot reach an agreement, you may pursue litigation. In Pacific Palisades, divorce cases are heard at the Stanley Mosk Courthouse at 111 North Hill Street, Los Angeles.
FAQs
What Assets Cannot Be Touched in a Divorce?
Assets that cannot be divided in a California divorce are separate property. This includes assets that were owned before the marriage, inheritances, gifts made to one spouse, and certain property acquired after separation. However, if separate assets were commingled with community property, then they may become community property. Due to this complexity, it is important to work with a high-asset divorce lawyer who can clarify whether assets must be divided or not.
Is My Spouse Entitled to Half of My 401(k) in a Divorce?
While your spouse may be entitled to half of your 401(k) in a divorce, there are exceptions. If contributions to the account were made during the marriage, then it is community property and subject to division. However, you may keep the 401(k) while your spouse keeps other property of equal value. In the United States, 56% of married adults say that a divorce would impact their retirement strategy, making it essential to carefully split 401(k)s.
What Is the Biggest Mistake in a Divorce?
One of the biggest mistakes in a divorce is making major financial decisions without understanding your options or the long-term impacts of a decision. This includes hiding assets, ignoring financial disclosures, or agreeing to a settlement without looking at how it impacts you in the future. This error can be even more significant for high-asset divorces, as there are higher dollar amounts involved, which can lead to higher inequalities in a divorce agreement.
What Should You Not Forget in a Divorce Settlement?
There are countless things to remember when creating a divorce settlement, including remembering to address every marital asset and debt, business interest, retirement account, spousal support needs, and the tax consequences of certain property transfers. Overlooking valuable assets can lead to disputes later on or difficulty remaining financially secure after a divorce.
If you hire a high-asset divorce lawyer, they can create a comprehensive divorce settlement that addresses all important issues in your high-asset divorce case.
Reach Out to a Skilled Pacific Palisades, CA High-Asset Divorce Attorney
High asset divorces are more complex than a typical divorce case because there are more assets and financial implications that must be considered. Fortunately, you do not have to navigate the divorce process alone. Contact Kramer & Zitser, LLP, to speak with a Pacific Palisades high-asset divorce lawyer about how to achieve a fair divorce.
