A Personalized Approach To The Financial Aspects Of Your Divorce
Complex financial assets, such as an owned business or investments, can make a difficult divorce even more complicated. You need to work with an attorney with experience handling high-asset divorces and understanding complex property divisions.
At Lord & Brooker, APC, our divorce lawyers take the time to understand your case and your concerns before developing a personalized strategy for your needs and goals. With decades of combined experience exclusively in family law, we frequently assist high net worth clients and business owners from our offices in Redlands, Riverside and Temecula.
From Unique Assets To Businesses, You Can Trust Us To Help You Keep What’s Yours
In California, property acquired during the marriage is considered owned equally by both spouses and is subject to division upon divorce. A divorce can quickly become complicated for couples who own significant property, have high assets or one or both spouses own a business.
At Lord & Brooker, APC, we have experience helping clients with a variety of financial matters relating to their divorce, including:
- Spousal support (alimony)
- Property division
- Business valuation
- Unique asset valuation and division
- Debt
The division of business assets in a California divorce can be approached by the spouses coming to an agreement or court intervention. If you and your spouse established the business together during your marriage, you would receive half of the property in your divorce settlement.
If necessary, we will work with qualified and reputable appraisers and accountants to complete a business valuation to help determine your business’s current and projected future value. The results of the valuation can help determine the division and future ownership.
Frequently Asked Questions About Division Of Assets In A Divorce
At Lord & Brooker, APC, one of the major concerns that our lawyers tackle is financial matters and the division of assets in a divorce. Here are a few common questions that we talk about with our clients:
How is property divided in California?
California is one of the few states that has community property laws. While other states may divide assets fairly, which may cause unequal distribution of assets, California divides assets equally. This means each spouse has the right to half of everything considered community property, which is largely everything acquired after the marriage began. Assets owned before marriage are considered separate property, as are certain inheritances and gifts.
How is spousal support decided in California?
There are a lot of factors that are considered before determining whether spousal support payments are made. For starters, a judge will consider each spouse’s unique situation, including each spouse’s standard of living, ability to pay spousal support, debts, assets and history of domestic violence. Spousal support often reflects the length of a marriage and the earning spouse’s financial situation. These factors can determine whether spousal support is temporary or rehabilitative. We are by our clients’ side, defending their needs when it comes to spousal support payments, whether they’re making payments or benefiting from them.
How will my business be impacted by my divorce?
Many people treat their businesses like their own children. That is why it is hard for many of our clients who own businesses to go through divorce. The biggest worry that our clients have is whether their business will be impacted by the divorce and whether they will get to keep it. Because California is a community property state, it is important to establish whether a business is a separate property. If a business is communal, then it could be divided equally. Our divorce lawyers want to ensure that our clients keep the businesses that they worked so hard to build.
Guidance You Can Trust
If you have significant assets or a complex financial situation, contact us as soon as possible to discuss your case. A one-size-fits-all divorce settlement likely will not suit your needs and help you meet your goals. We will thoroughly consider your options and provide clear and trusted guidance. Contact us today to schedule a case evaluation by calling 951-666-2367 or completing our online contact form.