Upland High Net Worth Divorce Lawyer

If you or your spouse have a business, a large estate, or a high net worth, you are sure to benefit from entrusting an Upland high net worth divorce lawyer. A family law attorney qualified in high net worth divorce procedures is an invaluable resource. A lawyer can help streamline the legal proceedings and ensure your properties are effectively protected.

At All American Law, our professional team of skilled divorce attorneys have successfully managed numerous high net worth divorce cases for clients with varying circumstances. Our legal team can provide services for couples where one or both spouses are business owners, executives, doctors, engineers, etc.

Understanding Divorce Laws in California

No matter the specifics of a divorce, all marriage dissolution proceedings in California must address the same core issues: property division, child support, child custody, and spousal support. Property division refers to the equitable division of a couple’s shared marital property. This can include assets and financial liabilities such as debts, loans, tax obligations, etc.

Child custody arrangements must also be settled. Parents must decide how parenting time will be split up between each spouse and with whom the child will primarily reside. According to state law, each parent must provide for their child by contributing towards the costs of clothing, food, etc. Child support proceedings will determine how much the higher-earning spouse must provide the other parent with regular installments to help cover the child’s living expenses.

Similarly, spousal support (alimony) may be addressed during Upland California divorce proceedings. Alimony is not guaranteed to be awarded within a divorce case, and the court will only consider it if requested. Typically, the judge will award the lesser-earning spouse with support payments. These will be paid by the other party to help them maintain a similar standard of living while transitioning to an unmarried life.

How Is a High Net Worth Divorce Different in California?

Under California’s community property laws, nearly all assets or money acquired by either spouse during the course of their marriage is subject to equitable division during a divorce or legal separation. This is the same for high net worth divorces. However, because of the sizable amount of money or property involved, proceedings can easily turn contentious when high-value assets or businesses are vulnerable to unfair division.

High net worth divorces can also entail other complex assets such as numerous real estate properties, international assets and businesses, investment portfolios, and more. Divorce proceedings for spouses with high value assets can also be time-consuming. All assets must be disclosed and identified in addition to being valued. This can require several professionals such as a forensic accountant.

Another difference you might expect during a high net worth divorce is prenuptials. A prenuptial is a marital agreement that some couples get prior to marriage that outlines how their divorce proceedings will go in the event of separation. Prenuptials can be honored even in high asset divorces but aren’t ironclad. If a spouse hid assets from being included within the agreement, the judge may decide to set aside a prenuptial’s terms.

FAQs

Q: What Counts as a High Net Worth Divorce in California?

A: In the state of California, there is no set amount you must meet to be considered a high net worth divorce. If you have a business or a high-earning job, it may qualify for your divorce proceedings to be handled with the care and attention of a high net worth divorce lawyer.

Q: How Much Does a Lawyer Charge for a High Net Worth Divorce?

A: For California high net worth divorces, it can be difficult to estimate how much lawyer fees will amount to. Every case has different factors influencing how long the proceedings will take, how complex the case is, and what legal tasks are required of your divorce attorney. The net worth or size of your marital estate is likely the most influencing factor. You can speak with an experienced family law attorney to find out how much your legal fees may be.

Q: Does the Higher Earning Spouse Have to Cover All Legal Fees?

A: Whether the spouse who earns a higher annual income has to cover the costs of their partner’s lawyer fees depends on the case. Family courts will sometimes order one spouse to pay the other’s legal costs if there is a significant gap in each spouse’s regular income.

It’s not guaranteed that one spouse will be awarded this, but if requested and the judge deems it appropriate given the situation, the higher-earning spouse may be responsible for their partner’s legal fees.

Q: How Long Does a High Net Worth Divorce Typically Take?

A: It’s difficult to anticipate how long a divorce will take, especially with the complex proceedings that high net worth divorces usually have. All assets will need to be accounted for, evaluated, and strategically and fairly divided. The more property you and your spouse have, or the more complex a particular asset may be, the longer the divorce is likely to take.

Q: Can I Get Spousal Support in a High Net Worth Divorce?

A: You may receive spousal support even in a high net worth divorce, depending on the specifics of your case. The court will consider various factors when deciding whether the lesser-earning spouse requires additional financial support from their partner.

While the division of high-value property is likely to result in substantial monetary gain for the lower-income spouse, the court will evaluate each spouse’s needs, living standards while married, earning potential, average wages, etc.

Skilled High Net Worth Divorce Law Firm for Your Needs

Divorces can be very emotionally challenging events to navigate. Divorcing spouses can benefit greatly from the help of an experienced divorce attorney.

Don’t hesitate to reach out to the competent team at All American Law for your high net worth divorce. Our qualified and professional attorneys understand how stressful divorces can be. With the added concern of protecting your valuable assets, you should feel confident with your legal counsel. Contact us today to schedule an initial consultation. Our legal team is ready and able to help you explore the full extent of your legal options.