Redwood City High-Asset Divorce Attorney
If you and your spouse are a couple that has acquired significant assets during your marriage, you will have a more complicated divorce process than a couple without high-value assets. A high-asset divorce has unique complications. A Redwood City high-asset divorce attorney can help you protect your rights and work toward a positive case resolution. Contact Schoenberg Family Law Group to request a consultation with one of our attorneys in Redwood City, California today.
What Does High-Asset Divorce Mean?
A high-asset divorce is the dissolution of a union between two people with valuable property and assets. Typically, the couple has acquired these assets together during the marriage, making it more difficult to divide during a divorce case. A couple with a high-asset divorce may have a complex marital estate with various types of properties and belongings.
- Retirement and savings accounts
- Stocks and bonds
- Artwork and collectibles
- Family heirlooms
- Real estate
- Jointly-owned businesses
- Intangible assets (e.g., intellectual property)
A couple with a high-asset divorce will encounter unique complications when it comes to property division, alimony, taxes and other related legal matters. Since there is more at stake financially, these couples will benefit from hiring high-value asset attorneys in Redwood City for representation.
What Complications Might You Encounter With a High-Asset Divorce?
Going through a divorce is difficult enough without the added complications of high-value assets. If you and your spouse have acquired a great deal of property during your marriage, it will be even more difficult to come to a fair settlement. These are often high-conflict cases.
An attorney can help you during mediation with your spouse to diminish the chances of having to go to trial in Redwood City. Your lawyer can help you with challenges such as accurately evaluating your financial state, hiring forensic accountants, searching for hidden assets, documenting all of your assets, understanding tax consequences and arriving at a reasonable settlement. If you and your spouse cannot reach a settlement, a lawyer can represent you during a divorce trial.
How Do the Courts in California Divide Assets in a Divorce?
If your divorce case has to go to trial, the courts will divide all of your marital property applying community property law. Under this law, a judge will divide all assets and property accumulated during a marriage in half (50/50), regardless of who earned the assets. The courts will not, however, have the power to divide separate property.
Separate property describes all assets earned prior to the marriage. It also describes certain types of property acquired during the marriage, such as gifts given to only one spouse or one spouse’s inheritance.
How to Protect Your High-Value Assets
If you are the higher-earning spouse in a high-asset divorce case in Redwood City, there are ways to protect your property and assets during a divorce. First, you can use a prenuptial or postnuptial agreement to determine matters such as property division and spousal maintenance should you and your spouse ever divorce.
Prenuptial and postnuptial agreements are legal documents that provide for the division of assets if a couple gets divorced, such as who will keep certain assets or whether or not one spouse has to pay alimony. Second, you can avoid comingling your separate assets after marriage to protect them from division. You can keep your bank accounts in your own name, for example, rather than creating joint accounts. Third, you can hire a skilled divorce lawyer to help you with the legal process.
Consult a Redwood City High-Asset Divorce Attorney Today
It is critical to hire a Redwood City high-asset divorce attorney if you have this type of divorce case in California. An attorney will have the skill, experience and resources to help you protect yourself financially and emotionally. Contact Schoenberg Family Law Group at 415.286.5372 or through our online system today for a consultation.