Flicker, Kerin, Kruger & Bissada, LLP
Menlo Park
650-289-1400
San Ramon
925-327-6200

Work with the right team for protection during a divorce

In a high net worth divorce, there is as much to gain as there is to lose. It is impractical to think that you will not need the assistance of an attorney during this time. Your divorce is complicated and complex, and there are many laws that apply to it.

In California, for example, all marital assets are divided equally between spouses. If you do not have a prenuptial agreement or postnuptial agreement, this could mean that many of your assets are left to your spouse, even if they had no part in earning them.

During your high net worth divorce, the first and most important thing to do is to determine the value of your assets and to assign them as marital or separate property. Your goal should be to categorize as many assets as possible as separate property. Your separate property will not be divided during the divorce.

A high-value divorce can take teams of experts to work out how to divide assets fairly. Additionally, these individuals can help you understand how each asset will affect your finances in the future when you receive it. That way, you can better prepare for taxation and other impacts.

It is not normal to divide property unequally in California, but there are cases when you may be able to negotiate for a larger share of property in divorce despite community property laws. This is something to discuss with your attorney and team of experts, so you can protect as many of your assets as possible while still appearing to be fair and considerate of your ex-spouse.

No Comments

Leave a comment
Comment Information