Riverside High Asset Divorce Lawyer

Riverside High Asset Divorce Attorney

Going through a divorce in Riverside isn’t easy for anyone. However, couples who share a myriad of valuable assets or wealth may face additional obstacles throughout legal proceedings. If you’re going through a high asset divorce in Riverside, it’s crucial that you work with a skilled Riverside high asset divorce lawyer who can protect your assets and ensure you receive what is rightfully yours.

Your Riverside High Asset Divorce Team

Getting a divorce is already overwhelming enough, let alone when your spouse is making it difficult to get your fair share of property. At the Law Offices of Michelanne Hrubic, our experienced divorce team has helped countless Riverside residents successfully navigate complex high asset divorces. We understand the nuances of California divorce laws and can work to ensure your rights and interests are protected throughout your case.

Understanding High-Asset Divorces in Riverside

A high-asset divorce in Riverside occurs when couples have highly valuable assets to split up. Since California residents have a higher net worth than the average US citizen, high-asset divorces are more common throughout the state. If you and your spouse are in a high-asset marriage, you will likely need to consider extra factors during your divorce. If you’re unsure whether your divorce qualifies as “high asset,” consult a skilled family law attorney from our firm to learn more.

The Difference Between Community and Separate Property in California

Community property, also referred to as marital property, encompasses all assets and debts acquired by a couple during their marriage in Riverside. Separate property, on the other hand, involves assets that each party collected prior to marriage or received individually during the relationship. This kind of property can include valuable assets from before the marriage existed, as well as inheritances and valuable gifts that were given solely to one spouse during the marriage.

When a divorce goes to the Family Law Division of the Superior Court of California, the judge will work to divide community property equally between the spouses according to state law. High-asset divorce clients with questions about local procedures can also benefit from reviewing the California divorce process.

Important Steps During a High Asset Divorce

When you decide to file for a high asset divorce in Riverside, you need to prepare for meticulous court proceedings, potential disputes, and financial transparency. When you hire a high asset divorce lawyer, you provide yourself with the legal knowledge and support you need to navigate your complex divorce with clarity and confidence. The following are important steps to take during a Riverside high asset divorce:

• Hire a High Asset Divorce Lawyer and Consult Professionals
  Begin by consulting with an experienced high-asset divorce lawyer in Riverside who understands the nuances of California family law. You may also need to collaborate with financial advisors, forensic accountants, and appraisers to ensure all your assets are identified and correctly valued.
• Organize All Financial DocumentsYou should then gather all important financial documents that help to demonstrate your current financial standing. These could include bank statements, investment portfolios, real estate titles and valuations, tax returns, and any business statements. The more organized you are, the more effective your attorney can be when advocating on your behalf.
• Distinguish Separate Vs. Community PropertySince California law requires an equal division of community property, but not separate property, you need to distinguish which assets fall into which category. Our team can help you properly identify the different assets in your life and ensure that what’s important to you is protected.
• Understand Tax ImplicationsThe financial ramifications of a high-asset divorce in Riverside are more than just property division and spousal support payments. While taxes are commonly overlooked, they can have a massive impact on your divorce when it comes to capital gains, property transfers, and the division of retirement accounts.

How a Riverside High Asset Divorce Lawyer Can Help

To ensure you’re not taken advantage of by a sneaky spouse and you receive what’s rightfully yours, you need a skilled high asset divorce lawyer on your side. At the Law Offices of Michelanne Hrubic, our team can provide invaluable legal support as you navigate your complex divorce. We can address matters including:

• Enforcing or challenging prenuptial or postnuptial agreements
• Identifying separate assets and community property
• Ownership and control of privately owned businesses
• Spousal support for the lesser-earning spouse
• Distribution of investment portfolios, retirement accounts, real estate, and other high-value assets
• Protecting your valuable items, like jewelry or artwork
• Child support
• Child custody and parenting time for those with busy careers

FAQs

What Qualifies as a High Asset Divorce in Riverside?

In California, a high-asset divorce typically means that the marital assets involved have a combined value of $1 million or more. Typically, the couple holds real estate, owns businesses, has retirement accounts, invests in securities, or possesses other valuable personal assets. Since California is a community property state, all assets that are acquired during marriage in Riverside are divided equally, which makes high asset divorces more complex than others.

Can My Spouse Claim Part of My Business or Professional Practice in Riverside?

Since California is a community property state, your spouse can typically have a claim to your Riverside business or professional practice if it was established or grew in value during your marriage. The court will look at each spouse’s contributions to the business or practice, and then may order a buyout or asset exchange.

Will I Have to Pay Spousal Support After My High-Asset Divorce in Riverside?

Spousal support in Riverside is not determined solely by asset value. The courts will look at each spouse’s income and earning capacity, how long the marriage lasted, the couple’s standard of living, and the contributions from each. Even with high assets, if there is a significant income disparity or one spouse sacrificed their career to benefit the marriage or family, then support may be ordered.

How Long Does a High-Asset Divorce Take in Riverside?

A high-asset divorce will likely take longer than a standard divorce due to how complex the finances are. Many will require asset identification, valuation, and tax considerations, which may necessitate the services of forensic accountants and other professionals. While California does have a standard six-month waiting period, many divorces take months, and sometimes, even years, when issues arise.

The Law Offices of Michelanne Hrubic: Trusted High Asset Divorce Services

High asset divorces are highly complex and emotionally overwhelming. Luckily, the experienced legal team at the Law Offices of Michelanne Hrubic shares a comprehensive understanding of California divorce laws and is prepared to protect what’s rightfully yours. Contact us today to schedule a consultation and begin protecting your assets.