Orange County High Asset Divorce Lawyer

Dedicated Orange County High Asset Divorce Attorney

A divorce can be an emotional, unpredictable, and complex situation for both parties involved. This can be especially true if you have considerable assets. Under California’s community property laws, your spouse may be entitled to half of all marital assets. A high-asset divorce can end up costing you a lot more than you may initially think when you consider investments, real estate, and businesses. An Orange County high-asset divorce lawyer can help you make a plan.

The legal team at Cianci Law, PC understands the complexities ahead of you in a high-asset divorce case. We’re a local law firm dedicated to helping clients understand what’s coming in their divorce. We can assist you in better understanding the state’s high-asset divorce laws and how they may affect your financial interests. Melissa Cianci, a Certified Family Law Specialist, can devote decades of focused experience to your case. She knows how to help.

Separating Your Assets in a High-Asset Divorce

If you move forward with a high-asset divorce in Orange County, your case will be handled through the Orange County Superior Court, with family law matters filed at the Lamoreaux Justice Center on The City Drive South in Orange. High-asset divorces often require careful identification, characterization, valuation, and division of the parties’ assets and debts. The marriage rate in California is 5.5 per 1,000 people, while the divorce rate is 10.1% for women and 7.1% for men. You should hire a high-asset divorce lawyer for help.

Protecting your assets in the event of divorce may be the most important thing on your mind throughout this process. Determining whether property is community, separate, or party both can require a detailed review of when and how the property was acquired and how it was managed during the marriage. The last thing you want is to end up losing much more than you had prepared for or what you should. If you have a prenuptial agreement in place that lays out terms for asset division, that may be enough to protect assets. Don’t try to hide assets, as that is seen as a breach of fiduciary duty and can land you in legal trouble. Here are some protective steps that may be important in a high-asset divorce:

• Keep thorough records. You can never have enough documentation when it comes to asset protection. Avoid making significant transfers or withdrawals from joint accounts without first understanding the potential legal consequences. Don’t try to empty any joint bank accounts, as that could trigger serious penalties. Make sure you have up-to-date and accurate copies of your bank statements, tax returns, retirement records, business records, real-estate documents, and investment accounts. When the time comes to divide assets, you want to have an accurate portrayal of everything you could potentially have to split.
• Asset tracing. Property owned before marriage is generally separate property, as are certain gifts and inheritance received by one spouse during marriage. However, separate property can become difficult to identify when funds or assets have been commingled with community property. However, it’s up to you to prove which assets are separate property, and that can be easier said than done if you don’t have receipts. You may want to hire a forensic accountant to trace the origins of your wealth or analyze complex financial transactions.
• Protect your business interests. If you own a business, you have to act quickly to protect it from potential community property division. Obtain a formal business valuation as soon as you can. If your business was built before marriage and you solely used premarital funds to develop it, it should be seen as separate property. If your spouse is involved, you may have to buy them out or keep them on as a silent partner.
• Postnuptial agreement. A postnuptial agreement is similar to a prenuptial agreement, except it’s drafted and signed after the marriage. A properly prepared and enforceable martial agreement may establish or alter property rights and can play an important role in a high-asset divorce. If there is a prenup or postnup in place, it can often be your strongest protection against a community property split of your high-value assets.

FAQs

What Assets Are Untouchable in a Divorce in California?

In Orange County, California, any assets that are seen as separate property are untouchable in a divorce. Separate property is any property that was solely yours before you got married, as well as gifts, inheritances, personal injury settlements, and any earnings that were made after the date of separation. However, characterization can become complicated when assets have been commingled, changed form, or are subject to reimbursement or other claims. A forensic accountant can sometimes be very useful in tracing separate-property interests.

How Are Businesses Divided in a California Divorce?

Businesses that are started or grown during a marriage are usually seen as community property and are eligible for an even split in a divorce. It’s important to assess the total value of your business and determine the respective community and separate-property interests. While a buyout is common practice, you may be able to offer your spouse the equivalent value of their half of the business in other assets, such as real estate.

Why Is Moving Out the Biggest Mistake in a Divorce?

Moving out before the divorce is finalized is often seen as the biggest mistake you can make because it can weaken your position. It removes you as the primary caretaker of your children, can disrupt your custody rights, and trigger severe financial strain you may not be prepared to handle. Above all, you want to approach your divorce from a position of strength. Remaining in the marital home can help you do that. Because the decision can have practical and strategic consequences, it is often helpful to discuss the circumstances with a family-law attorney before taking action.

Should I Hire a High-Asset Divorce Lawyer?

Yes, you should hire a high-asset divorce lawyer. You don’t want to end up losing more than you are obligated to lose. If your spouse is vindictive, they may try to take as much as they can, leaving you destitute and regretful. Hiring a high-asset divorce lawyer with experience handling volatile and unpredictable cases can be the wisest move you make in this entire process.

Be Sure to Hire a High-Asset Divorce Lawyer Today

Creative Family Solutions has been helping individuals and families with their complex legal needs for quite some time. When your high-value assets are at stake, careful planning and a thorough understanding of the financial issues involved can be critical. Having someone in your corner who has experience with cases like this can only help you in the long run. At Cianci Law, PC, we are prepared to provide you with the resources you need to see this through. Contact us to speak with someone on our team who can help.

Orange County High Asset Divorce Lawyer Reviews