Legal Tips For High Asset Divorce

Posted on May 01, 2020

Going through a divorce is not easy for anyone, and the whole process can become incredibly complex. This is especially true when a divorce occurs and there are high assets involved. A high asset divorce in Thousand Oaks can have various aspects involving income, property, retirement accounts, business valuations, and more. At the Law Offices of Stephanie L. Mahdavi, our Thousand Oaks high asset divorce attorney is ready to help you with your case today.

Important tips for dealing with a high asset divorce in Thousand Oaks

A high asset divorce can also be classified as a complex divorce because it will almost certainly require specialized assistance. These divorces can include numerous asset types, including:

  • Savings and checking accounts
  • Division of real estate
  • Retirement accounts (401ks, IRAs, etc.)
  • Investment portfolios
  • Business valuations
  • Division of brokerage accounts
  • Investments and collectibles, including art collections, jewelry, cars, etc.

If you are going through a complex property divorce in Thousand Oaks, these tips may prove helpful:

  1. Secure a skilled attorney now: This does not mean you should go find the closest divorce attorney to your house. You need to find an attorney with vast experience handling high asset divorces. A skilled attorney will understand the investigation and negotiation process and ensure you are treated fairly.
  2. Maintain trust: If you are able to remain amicable with your spouse during the divorce, this will streamline the process. When there are significant assets involved, it can be all to easy to think the other party may be hiding something. It can be very hard, if not impossible, to regain trust during a divorce process.
  3. Have realistic expectations: If you are the high earner in the marriage and your employment generated most of the assets, you may feel like you are entitled to keep most of the assets in the divorce. If you are the spouse of lesser means, you may not want to assume any risk involved in the assets you take from the marriage. It is important for both parties to be informed about how the law applies and to maintain realistic expectations.
  4. Don’t be afraid of creativity: A skilled family law attorney will often be able to work with a knowledgeable financial planner to help develop creative options to settle the financial matters in the divorce. Professionals can craft options that will address the interests of both sides. For example, dividing stock options between the two parties may not be possible if options contracts are not transferable to another party. There may be a “trade-off” with other assets involved.
  5. Take special care with inherited assets: Keep in mind that some inherited assets are considered separate property, and only become community property if they are commingled with marital property. This will all need to be investigated extensively during the divorce process.

Let us help you through this difficult situation

If you are going through a divorce, or are considering doing so, and there are extensive assets involved, you need to seek legal assistance. At the Law Offices of Stephanie L. Mahdavi, we want to ensure you are treated fairly throughout this process. Our Thousand Oaks high asset divorce attorney will investigate all aspects of your situation and work to achieve the best possible outcome for your case. You can contact us for a consultation by clicking here or calling 805-379-4550.

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