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Chandra E. Miller

A Northern California Family Law Firm

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The complications of high-asset divorces in California

| Apr 3, 2015 | High Asset Divorce

High-asset divorces sometimes involve complicated assets that raise tensions between the spouses and require a lot of attention during the entire process. If you have accumulated many assets during your marriage, you might need advice and negotiating assistance from a lawyer.

In California, all of the property that you and your spouse acquired during the marriage is considered community property, so it will be equally divided between both of you. These rules, however, often do not apply when spouses have prenuptial agreements that state otherwise.

Despite how simple these rules sound, a high-asset divorce makes the division complicated when certain assets are involved, such as business ownerships, investments in real estate and stock, and contributions to retirement options like IRAs and 401(k)s. The ownership of multiple homes, including those used for vacations, and other property, including boats, electronics, cars, art and jewelry, could also complicate the divorce. However, while your spouse appears to disclose all of the property and assets, you might feel like some assets remain hidden.

Lawyers who are familiar with high-asset divorces often consult with appraisers, accountants and other financial experts to value all of the property and assets involved in a divorce. The lawyers and consulting experts also help spouses determine which items are considered personal and marital property. If necessary, they also consult private investigators to uncover whether a spouse is hiding additional property or assets to ensure that the other spouse receives a share in the divorce settlement.

Whether or not you can work with your spouse to negotiate a voluntary and fair divorce settlement, a lawyer could ensure that a resolution is reached and that your best interests are represented throughout the process. Visit our page on high-asset divorce for more information about how we protect your interests during the division of property and assets.