Divorce is a difficult thing to get through. Fear, anger, anxiety, and uncertainty may all be feelings you experience during the process. Matters will be even more complex if the divorce involves the division of business assets, multiple homes, wide-ranging investments, and debt. To protect your material interests, you will need to hire a Pleasanton divorce and family law attorney with expertise in high asset divorce. Such a CA divorce attorney will have the knowledge, connections, and tools to ensure you get a fair settlement.
Tracking Down Assets
If you were not involved in the management of the money and assets, you may not know the exact value of your estate or the location of its assets. One of the first things your Pleasanton CA divorce lawyer will do is track down your spouse’s assets and sources of revenue and ensure that every dime is accounted for.
It is not unusual for people to hide bank accounts, investments, properties, and other high-value assets in anticipation of a divorce. If your spouse owns a high-performing business, they may also attempt to hide personal assets within it. They may even employ friends and relatives in their scheme to hide their wealth. You will need to work with a Pleasanton divorce attorney who is familiar with such tricks and will find the money.
Protecting Your Community Property Share
In California, community property is defined as any asset acquired by a spouse after the marriage. California law mandates that all community property be divided equally. This means that each spouse gets an equal share of the total value of the estate.
The flashpoints of a high net worth divorce do not always involve money; sometimes they center on a particular house or a piece of furniture or artwork. If you are especially keen to have a particular property, your Pleasanton divorce lawyer help explain to the court why the item is so important to you.
You will be awarded spousal support. The amount you receive and the length of time you receive it will be based on the following factors:
- The length of the marriage
- The standard of living you enjoyed during the marriage
- Your ability to find work and develop marketable skills
- Your contribution to the career and financial advancement of your spouse
- If You Own a Business Together
One of the thornier types of high net worth divorce involves couples who are in business together. You will need to determine the worth of the business through a valuation. You will also need to establish the company’s cash flow, the value of all its assets, and its debt. You will then need to decide whether you want to continue operating the business as before or if one of you will buy the other out. Liquidating the company is also an option. If you decide to liquidate the business, your lawyer will ensure you get your fair share of the money.
The Division of Retirement Accounts
Pensions and retirement packages are also divided. A court will need to decide how much each spouse will receive. The division of retirement money can be complex. You want an attorney who is experienced in such matters by your side as you go through this process.
Protecting Yourself and Your Future
You have the right to protect your material interests during the divorce. If you played a big role in helping your spouse become wealthy, you should be amply rewarded for it in the divorce settlement. Working with a Pleasanton CA high asset divorce attorney at the Tierney Law Group will ensure that you get everything you are entitled to. You should speak with a Pleasanton CA divorce attorney at the firm to review your legal options.