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high asset divorce Archives

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.

How to avoid penalties when dividing retirement assets

California couples who are ending their marriages may need to consider how their retirement accounts may be divided in the split. If those assets are not divided properly, it could result in negative consequences today and in the future. For instance, if one spouse is transferring a portion of his or her IRA to the other spouse, it needs to be done as an incident to divorce.

Social Security benefits after a divorce

Divorcees in Los Angeles might be surprised to find out that they are eligible to collect Social Security benefits based upon a former spouse's earnings records without engaging in any further dispute. Even after a subsequent marriage or decades of being single, these funds may be accessed assuming certain criteria are met by the claimant. Early knowledge of this can help with retirement planning and possibly impact asset division negotiations in an ongoing divorce.

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    Kendra is a very thorough attorney. She paid great attention to detail. She is a pitbull in the courtroom and received compliments from the judge. We won a majority of our motions. I found her to be reasonable and understanding. I highly recommend her!- William, a Divorce client (5 star review)

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    I had a complicated case with a lot of assets. We had a business to divide and could not make heads or tails of it. My previous
    attorney messed up the case. However, when we found Thomas Law, the attorney was able to get to the bottom of how our assets should be divided.
    When Ms. Thomas presented the case, the judge realized that she knew her stuff. I had a very good experience with this firm.- Mae, a Family client (5 star review)

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    When I first came to Kendra, was in a panic state. However, after meeting Kendra, I panic no more. I was in a case, where I was being worked “real good”, with an ex who is relentless with absolutely no morals. However, after being in the courtroom with Kendra, I do not believe that he will ever take me back to court. We got everything we wanted. Kendra knew what to ask and how to strategize the case. I would HIGHLY recommend Kendra to anyone involved in a high conflict divorce and/or child custody dispute.- Sharon, a Family client (5 star review)

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