In California, when a couple divorces, assets and debts are divided amongst the two parties equally. Generally, courts apply this one size fits all approach to the division of assets, making it problematic when one of the parties to the divorce has a high personal net worth that was obtained during the marriage.
Community Property and Spousal Support
Not all assets are considered to be of a high value to the court. Assets that may need to be divided differently include any stocks (such as Restricted Stock Units) or investments, businesses, and real estate that have a higher than average value. During a divorce, a court must determine how to fairly divide all assets acquired during the marriage, often leading to disagreement about a spouse’s entitlement to certain assets. These assets may be complicated to value and of course, can have profound effect on litigant’s livelihood.
Spousal support is also an important component of divorce. When there is a large discrepancy between the parties’ income, it is important to find an amount for spousal support that is fair to both parties. The purpose of support is to provide the spouse with the lower income enough support so their standard of living does not substantially deviate from what it was during the marriage. There is temporary support and permanent support.
High asset divorces need to be handled differently than a traditional divorce and require an attorney well versed in dealing with complex community property cases. These types of cases often become volatile and expensive if not handled in an efficient, cost-effective manner. Contact our office today to schedule a consultation.
Our Areas of Practice
Adult Child Support
Assisted Reproduction Technology Litigation
Child Custody and Visitation
Child Custody Mediations
Child Support Arrearage
Divorce with Children with Special Needs
Domestic Partnership Dissolution
Enforcement (or Set-Aside) of Pre-Marital and Post-Marital Agreements
Establishing Paternity or Maternity
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Gender and Name Changes
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Non-Marital Relationship Dissolution