What You Need to Know about High Asset Divorce
If you or your spouse have accumulated substantial net worth, attorney Drummond T. McCunn can help you through the proceedings and protect your financial future. With the help of a high asset divorce attorney, you can feel safe knowing your property will be safeguarded and that you have partnered with a qualified legal professional. Put our experience to work for you in Granite Bay, CA, by calling McCunn Law today.
Divorce: High Asset vs. Traditional
In any divorce there will need to be a separation of assets and liabilities, there will be questions surrounding child custody and support (if there are children), and the process is bound to be emotional even if the split is amicable. But a high asset divorce takes on different characteristics from a traditional divorce in that:
- Prenuptial agreements: If there were a large number of assets owned by either party prior to marriage, the possibility of having a prenuptial agreement in place is high. Traditional divorces typically lack this layer of protection, giving rise to the need for legal analysis of the agreement.
- Support: If both parties are high wage earners, the issue of spousal support may not come into play, but if one party earns less money, the issue of spousal support is important. When child support is an issue, the traditional guidelines may not apply in high asset cases and a knowledgeable attorney will know how to fight for an appropriate amount of child support.
- Property division: Many high asset divorce cases include multiple pieces of real estate or valuable pieces of personal property, making it critical to divide the property equitably. California is a community property state, and in the absence of a valid agreement, property is divided on a 50-50 basis. If you have concerns that your spouse is concealing property or other assets, a thorough investigation is required and a solid legal argument must be made in order to ensure you receive what you deserve.
Mr. McCunn is a high asset divorce attorney who will work hard to protect your interests and keep your property safe.
Assets to Consider in a High Asset Divorce
Cases with a large number or great value of assets focus not only on dissolving the marriage, but also dividing the assets. Typical assets taken into consideration include:
- Real estate in the country, and abroad
- Assets placed in a trust
- Business interests
- Retirement accounts, stocks and stock options, and money market accounts
- Life insurance policies
Each case is unique and careful examination is required to make certain nothing is overlooked.
Prenuptial and Postnuptial Agreements
An individual with large assets may ask for an agreement to be signed either prior to or just after marriage. The agreement is intended to protect assets upon divorce, and generally benefits the party asking for the agreement. A prenuptial agreement is signed before marriage and outlines what will happen to assets upon divorce. A postnuptial agreement is signed after marriage and aims for the same goals as a prenuptial agreement. In either case you should not sign an agreement that may give up your rights to certain things until going over the details with an attorney.
How an Attorney Can Help
Parties of a high asset divorce must make certain their financial and property interests are not infringed upon. Our attorneys protect you by seeking a division of assets that makes sense, and by looking to maintain certain property rights where appropriate. If you have a pre- or postnuptial agreement, we explore that document for validity and proper enforcement. We help draft workable child support and custody plans, and work with an eye towards a secure financial future for your children.
Contact McCunn Law Today
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