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high asset divorce Archives

What should you consider before hiring a valuation expert?

There are certain assets you know you want the judge to award you in your California divorce, but you will probably have to make some trade-offs with your spouse to make sure he or she agrees. Trading based on emotional value could leave you with less than an equal share, though. According to the Journal of the American Academy of Matrimonial Lawyers, providing the court with a professional opinion may ensure that you receive the items you want without losing others you should have in the bargain.

Reviewing the effects of your divorce on your will

While the dissolution of your marriage in Los Angeles may come as welcome relief to you, it does not necessarily end your association with your former spouse. If yours is case where there are considerable assets to distribute between to two of you, then it may take years for those matters to be sorted out. Some in your situation have come to us here at The Thomas Law Offices concerned that even their deaths will not sever their links with their ex-spouses, and that the only way for them to avoid having their exes take the rest of what is theirs is to revise their wills. Is such action required following your divorce? 

Does your spouse have off-shore accounts?

When spouses in California are faced with dividing everything they own during divorce, the temptation to hide assets can sometimes become irresistible. If you fear that your spouse has hidden funds in off-short accounts, you may be worried about how you will find this information and ensure that you get a fair settlement. The American Bar Association has created a guide to help you find any monies that your spouse may be attempting to hide in foreign banks.

Dividing artwork during divorce

While splitting up assets can be difficult in any divorce, the process can be especially complicated if you are an artist. Artists in California will have to follow strict guidelines and adhere to state property division laws when it comes to pieces they have created and sold. We at the Thomas Law Offices understand the difficulties associated with these cases and are here to help fight for your rights when it comes to dividing your artwork during divorce.

Red flags that divorce may be on the table in the future

Many couples in Los Angeles may be surprised to learn that there are some factors that can indicate divorce is in their future. With divorce rates across the country declining, couples who want to increase their chances of successful marriages should understand that many divorce situations do not develop overnight.

Mine, yours and ours: dividing property in California

If you and your spouse have been living what would be considered an affluent lifestyle, you may be wondering what happens to all you've accumulated during your marriage in a divorce. What's mine? What's ours? These are two of the most commonly asked questions when the assets are divided during a divorce in California.

Divorce and co-owning a business

California couples who have a prenuptial agreement may have made an arrangement to protect the business they own together in case of divorce. However, for divorcing couples who have not created a prenuptial agreement or a buyout agreement, it might be necessary to negotiate what becomes of the business.

Divorce and trusts

Individuals who are beneficiaries of a trust set up by their parents or other parties and who are getting divorced may be concerned if their soon-to-be ex-spouse will be able to lay claim to the assets in it. Trust recipients in California should be aware of how to protect their assets.

Some fees may be charged in splitting a 401(k)

California couples who are getting a divorce and who need to divide their employer-provided 401(k) account may not be aware that they need a document known as a Qualified Domestic Relations Order in order to complete that process. This is a complex document, and although it is required by both the court and the plan sponsor, there may also be a fee attached. The fee might be even higher if any changes are made.

Taking care to avoid property division mistakes

Californians who are getting divorced might want to make certain to avoid certain mistakes that can leave them with less from their divorces than they might otherwise receive. Taking into account income differences and potential tax consequences when dividing assets may help people to ensure that they get what they should be entitled to.


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