Unique Complexities of a High Net Worth Divorce
April 15, 2023, In Divorce
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At WHITMARSH FAMILY LAW, PC, our Los Angeles family law attorney knows that when California residents decide to get divorced — whether it is because of a single event, like infidelity or deception, or after years of hardships — their legal paths differ from any other divorcing couple.
The reality is, all divorces are unique. So are the details of those divorces, including how the couple divides their property and goes their separate ways. When there is a higher net worth of property to divide, whether in the form of real estate, businesses, accounts, or other assets, the negotiations can become exceptionally heated.
Our Los Angeles County divorce attorneys can help you understand the assets that are considered community property, which generally means the property acquired during the marriage by either spouse and is presumed to be owned by each spouse equally. This will help us paint an accurate picture of what you are entitled to because of our findings.
Here are a few things high-asset spouses should consider during their California divorce proceedings.
First Things First: Identifying All Marital Assets
Divorcing spouses cannot begin to divide their assets without both knowing the full value of their properties. When representing a spouse who is entitled to their share of the marital assets, we must first identify each of the couple’s holdings.
That may include:
- Checking and Saving Accounts.
- Collections, Antiques, Jewelry, and Artwork.
- Crypto Currency
- Household Goods and Furnishings.
- Insurance Policies.
- Offshore Accounts.
- Pension, Retirement, and 401k Accounts.
- Real Estate Properties.
- Stocks, Bonds, and Other Investment Accounts.
- Vehicles, including Cars, Vessels, and Aircraft.
Often, when one spouse oversees the family’s financial matters, the other spouse is unsure of their exact holdings and the value of their accounts. Our skilled Los Angeles divorce attorneys will partner with experienced forensic accountants and other financial professionals to ensure your assets are assessed at their true value.
This financial assessment will also help ensure one spouse is not attempting to hide assets, which is illegal, to avoid disclosing their full net worth. We will leave no stone unturned during the discovery period, so you can pursue the community property you are entitled to once the divorce is finalized.
Contact Our High-Asset Divorce Attorneys in Los Angeles, California Today
If you are worried about how your divorce will unfold because of the high net worth of the community property, contact our skilled family law attorneys in Los Angeles County at WHITMARSH FAMILY LAW, PC by calling (310) 552-3505 to schedule a free consultation today. We can help provide solutions that produce results.