Orange County High Asset Divorce Lawyer

Orange County High Asset Divorce Attorney

Navigating a divorce in Orange County can be challenging, especially when significant assets are involved that are worth a large sum of money. These scenarios are termed a “high net worth divorce,” which significantly increases the stakes and complexities of a traditional divorce. Your Orange County high asset divorce lawyer should intimately understand the intricacies of this type of divorce.

If you are confronting this type of divorce in California, understanding more about the nuances of divorcing with high-value assets can make a huge difference in the process. At Quinn & Dworakowski, LLP, our uniquely skilled team can help you understand the financial details of your high asset divorce.

What Items Could Be Found in a High Asset Divorce Portfolio?

If you’re questioning if your divorce might fall under the category of a “high asset divorce,” the following common attributes found within these cases can help to clarify.

• Multiple properties: If the splitting couple’s real estate portfolio goes beyond just having a single primary residence, there is a good chance their divorce will fall within the bounds of a high asset divorce. If the couple has invested in rental properties that span different geographies or owns multiple vacation homes, dividing these property assets brings a new level of complexity that can lead to even more strife between both parties.
• Stocks and bonds: If the couple has an investment portfolio that consists of several stocks, bonds, and other financial securities, this can complicate matters. Each asset’s worth may fluctuate in value frequently, which makes it difficult to assess what would be the right way to split these items fairly in accordance with California law.
• Business interests: If the couple has ownership or any substantial stakes in different businesses, this adds an entirely new level of complexity to navigating the divorce. Whether the businesses are family-owned, partnerships, or larger corporations, the court will need to see how each of these business relationships is valued. This can take a while to determine, especially if the business is not yet publicly traded.
• Valuable collectibles: Often, high asset individuals own rare and valuable items, such as art collections, antiques, jewelry, classic cars, etc. Each of these items will need to be appraised for consideration on who gets what after the divorce. Incorporating any emotional significance into these items can further complicate an ordinary division of assets that appears fair on paper.

The Role of Family Law in High Asset Divorces

At its core, family law serves as the legal framework for all matters related to relationships within a family unit. It serves as the backbone for all complex divorce cases, including:

• Helping to divide assets: Family law outlines principles for dividing marital assets. Orange County high net worth divorce attorneys will be able to navigate various jurisdictions that might dictate different items within the couple’s vast and varied portfolio.
  Whether the asset is bound to the regulations of community property or equitable distribution, an attorney will be able to assess each item individually and incorporate them into the overall divorce plan.
• Child custody and support: When children are involved in a high asset divorce, distributing various assets could also help accommodate different custody and support arrangements. For example, if one parent has been awarded a few different investment properties, they may also be asked to take on a larger share of the child’s expenses or provide additional financial support to their ex-partner.
• Protection of assets: Sometimes, one partner attempts to undervalue or hide certain assets to personally help their own position in a divorce case. Having a family law attorney on your side can help to investigate any possibility of these activities happening and ensure the divorce remains transparent and fair.

High Net Worth Divorce FAQs

Q: How Can I Assess if a Particular High Asset Divorce Attorney Is Experienced?

A: To assess an attorney’s experience, review their professional profile to see how many years they have been in practice and what cases have been handled. You want to see if there are any client reviews that can make you feel more confident in your hiring decision.

Also, be sure to ask specifically about the attorney’s familiarity with complex asset valuation cases. If you don’t feel as if their answers to your questions are conveying competence in this field, you may want to look for another option.

Q: How Much Does It Cost to Retain a Divorce Lawyer in California?

A: How many years an attorney has been practicing, in addition to the complexity of your case, will influence the overall retainer cost. An average hourly wage to expect is roughly $250 to $500 per hour. Some notable attorneys in the area known for winning will charge more. It’s not uncommon for some lawyers to request a retainer fee upfront, which helps to secure their confidence in your ability to afford their services throughout the process.

Q: Does the Length of Marriage Affect Divorce Settlements in California?

A: Yes, the length of a marriage can influence a final divorce settlement in California. This is especially true when it comes to determining spousal support, as both individuals have become used to a certain lifestyle that the court will try to maintain after the legal split.

Typically, any marriage that has lasted longer than ten years will be labeled as long-term. If, within those years, one partner made a significant career or educational sacrifice for the benefit of the marriage, that will be taken into consideration when assets are being divided.

Q: How Does Property Division Work in a High Asset Divorce?

A: California is a community property state, which simply means that any assets or debts that have been acquired during the marriage will be split equally between both spouses. The reason why high asset divorces can muddy this traditionally straightforward process is that various assets could be within an equitable distribution state where assets are rather divided fairly, not necessarily equally.

This is why having a qualified high asset divorce attorney is necessary to navigate these intricacies and make sure that both parties enter the next chapter of their lives feeling comfortable with the conditions of their divorce.

Divorce Attorneys You Can Trust With Your Complex Case

If you are being confronted with a high asset divorce in California and are struggling to keep on top of the process, contact the experienced attorneys of Quinn & Dworakowski, LLP, today. We have years of experience scrutinizing every detail of high asset divorces to make sure our clients can receive a fair and equitable distribution of assets. Contact us today and see why others in the same situation have already trusted the family at Quinn & Dworakowski, LLP.