There are a number of issues that need to be addressed in the process of finalizing any California divorce. In situations where the couple has substantial assets or holdings, many of these issues become considerably more complex. Both spouses have community and separate property rights that need to be addressed in these cases, and the assistance of a qualified family law attorney can be invaluable.
Discreet Handling Of Sensitive Family Law Matters
At Contreras Law Firm, we represent high net-worth individuals in all aspects of family law. We understand the unique concerns that need to be addressed in these matters, and we utilize effective strategies in pursuit of the best possible result for our clients.
The issues that need to be resolved in any divorce are the same, regardless of the value of the marital estate. In many high net-worth divorce proceedings, however, matters of privacy and reputation become at least as important as the legal issues themselves. It is our commitment to do everything in our power to ensure that your privacy is respected at every stage.
Valuing And Dividing The Marital Estate
Property division is often the most time-consuming and complex part of any divorce, but can be especially so in cases which involve high net-worth individuals whose wealth is often tied up in intangible assets around the world. We make it a priority to gain a thorough understanding of the value of all property acquired during the marriage.
As a community property state, California law allows spouses to keep their separate property upon divorce. Separate property is any property either spouse acquired prior to the marriage. However, certain intangible assets such as 401(k) plans and other benefit plans are not considered the sole separate property of the holding spouse. In most cases, at least a portion of the value of the account will be considered community property. Even if one spouse did not work, he or she is still entitled to a share of the retirement funds and other benefits.
Many high net-worth divorces involve privately held businesses, executive compensation packages and other complex assets. These can be difficult to divide, especially if the business is jointly owned by the spouses. Valuation experts are frequently called in to help determine the actual worth of a spouse's ownership share. In some situations, the terms of a family partnership may prevent a spouse from receiving a share of the partnership in a divorce.
Our firm maintains a vigorous business law practice, and we have experience with a variety of commercial purchase and sale transactions. Once an accurate value for any share of the business that is eligible for division has been identified, we can help you draft and execute the necessary documents to complete the purchase of the non-owner spouse's share.
Seeking The Best Possible Outcome On Your Behalf
Contact our office in San Diego to discuss your high net-worth questions with a lawyer. we offer a no-obligation preliminary consultation to all new clients. We listen carefully to your concerns and fully explain your legal options. You can contact us by calling 619-908-1495 or completing our online intake form to schedule an appointment.Back to Top