Going through a divorce can be extremely draining, both emotionally and financially, and when significant property and assets are involved in the divorce, the matter of fair and equitable property division becomes all the more complicated. In the state of California, complex property division involves the distribution of high-value marital assets, including retirement accounts, ownership rights to a business, professional practices and investment portfolios, among others, which can be a hotly contested issue for some couples. If you have significant assets and you are considering filing for divorce in Los Angeles, or you have been served divorce papers by your spouse, it is important to understand how you can safeguard your finances and ensure your separate property stays separate. Consult our experienced family law attorneys at Divorce Lawyers Los Angeles today to find out how to protect your assets and financial future in a high net worth divorce.
Affordable Los Angeles Complex Property Division Attorney
If you are going through a divorce in Los Angeles, you are probably wondering how splitting from your spouse will affect your financial well-being, especially if you have significant assets that you acquired either before you got married or during the course of your marriage. At Divorce Lawyers Los Angeles, our legal team is intimately familiar with the intricacies of California property division laws and we have the skill and knowledge necessary to help you devise a plan to fairly divide your marital property with your spouse and keep your non-marital property separate. Our main goal is to help divorcing couples in California reach a fair and amicable agreement outside of court, but should your case go to trial, we are fully prepared to represent your interests before a judge and negotiate a fair settlement on your behalf. Going through the divorce process is stressful enough; allow our Los Angeles family law lawyers to work out the property division details for you.
Property Division Laws in California Divorces
California is a community property state, which means all property and assets (and debts) acquired by the couple during marriage is legally considered community property owned by both spouses equally and should therefore be divided equally in divorce. However, things get considerably more complicated when one or both spouses has a high net worth or substantial property and other assets, which is where the expertise of a complex property division attorney is vital. In divorces where one or both spouses have a high income and high net worth and who own multiple properties or business assets, there is often the issue of the spouses claiming certain assets as separate property. Separate property – property and assets owned by either spouse prior to the marriage or property acquired during the marriage by gift, will or devise – is not subject to community property laws in California.
Further complicating property division issues in Los Angeles are matters of child custody, child support and spousal support, or the existence of any prenuptial or postnuptial agreement, the terms of which could override California’s standard 50-50 property division laws. Unfortunately, when one or both spouses in a divorce case owns substantial property or assets, the divorce process automatically becomes more complex and may last far longer than it would under normal circumstances. That’s where we come in. Our attorneys at Divorce Lawyers Los Angeles have experience handling a wide range of high net worth divorces in Los Angeles, including those involving high-value marital estates and other assets, and we will use our considerable professional resources to help you obtain a fast and fair settlement in your divorce case. Some of the high-value assets at risk in high net worth divorces include:
- Stock options
- Corporate business assets
- Business valuations
- Professional practices
- Investment portfolios
- Residential and commercial real estate
- 401(k)s, IRAs and other retirement accounts
How a Los Angeles Divorce Can Affect Your Assets
Emotions are typically running high when the beginning stages of a divorce are put in motion. Often, high-earning spouses going through the steps of getting a divorce simply want some assurances that the assets and property they owned before their marriage, and the lifestyle they have grown accustomed to in marriage, are protected and that they won’t be left in financial ruin once the divorce is finalized. California law dictates across the board that community property be split 50-50 between spouses seeking a dissolution of marriage, but not all divorces are that simple. Los Angeles is an affluent city and many couples enter into a marriage with significant property or earn high-value assets during the course of their marriage, or both. And when such a marriage ends in divorce, it is imperative that each spouse receives a fair division of the marital property, which may include the increase in value of real estate and retirement accounts, among other shared assets. When it comes to splitting up valuable marital property in divorce, it is imperative that the assets, property and debts are evaluated carefully and thoroughly to ensure an equitable division of property between the spouses upon the dissolution of the marriage. It is also important that each spouse is forthcoming about his or her income and earnings, as well as debts, so that an accurate and reasonable agreement can be reached.
How an Experienced Family Law Attorney Can Help
Los Angeles divorces involving complex property division due to significant assets, professional licenses, business ownership and other complicated financial matters are often highly contentious and high profile, but they don’t have to end in a bitter legal battle. These types of cases require the careful and knowledgeable hand of a skilled family law attorney so that you can determine what assets are rightfully your separate property and what assets are community property to be divided equally between you and your spouse. Our attorneys can help you trace any assets back to their source and determine their current value so as to calculate the accurate value of your possessions and ensure that you obtain the most favorable property division terms. Let our legal team do what it does best so that you can concentrate on moving forward and getting a fresh start.
Free Complex Property Division Consultation in Los Angeles
In Los Angeles divorce cases involving high-value assets, distribution of property is the primary concern, but there are many issues secondary to complex property division that may also require the help of an expert, including any resulting tax issues. If you are facing a high net worth divorce in Los Angeles or elsewhere in Southern California, don’t hesitate to get legal help. Our family law attorneys at Divorce Lawyers Los Angeles have experience negotiating and litigating complex property division issues in Los Angeles divorce cases and will work tirelessly to represent your best interests in mediation and, if necessary, in court. For more information about California’s community property division laws, or to speak to an attorney about filing for divorce as a high net worth individual, contact Divorce Lawyers Los Angeles today at (213) 550-4600.