Our Los Angeles family law attorney at the Harris Family Law Group knows that while all California divorces are unique, property division is often a highly contested factor in the marriage’s dissolution.
That becomes especially true when we are talking about a high-net-worth marriage.
Typically, the higher the monetary value of the couple’s assets, the higher the stakes when it is time to divorce. That means one or both spouses may be willing to fight a little harder for the financial outcome they believe they are entitled to.
That is why there are several unique considerations for high-asset divorces. Here is what our California residents need to know.
Before you and your spouse can split your marital assets, you must first identify them. This is where things may get tricky. If one spouse has little involvement in the marital finances, he or she may not know what they have, or to what they are entitled.
That can often lead to one spouse attempting to hide assets, which is illegal, or simply trying to buy their way out of the marriage, so they do not have to disclose their full net worth.
If you are unsure of your financial standing, our skilled divorce attorneys in Los Angeles will help ensure your spouse discloses all assets during the discovery phase.
Once all assets are identified, your divorce lawyer will partner with the proper accounting party to ensure they are assessed at their true value. It is impossible to take the other spouse’s word for how much something is worth without partnering with a financial specialist.
Our skilled divorce lawyer in Los Angeles will accurately determine the overall worth of your combined assets, so they are divided and distributed properly.
No matter which side of the divorce you are on — whether you are the dependent spouse or the one who currently financially supports the marriage — the eligibility requirements are the same for everyone. That means the court is going to weigh all the applicable factors, which may heavily pivot toward one spouse.
The length of the marriage, and whether there was a prenuptial agreement in place, will be two immediate factors. However, the most important may be whether one spouse works — and his or her net income — or whether the other has been dependent on him or her for the duration of the marriage.
If you are unsure of your marriage’s finances, you do not have to take the other spouse’s word for it. Our skilled divorce attorney can help by scheduling a free consultation today by calling (310) 745-8644.
At the Harris Family Law Group, our divorce lawyer in Los Angeles collaborates with clients using flat fees, instead of billable hours, which allows you to plan your expenditures upfront, so you can have confidence in your financial future.
