Bakersfield High-Net-Worth Divorce Attorneys
Helping Secure Your Assets & Property During Your Divorce
The presence of valuable property in a divorce can make the process of dissolving a marriage even more complicated as parties debate over what constitutes an equitable division of marital property.
At Alternative Divorce Solutions, our Bakersfield high-net-worth divorce lawyers help clients navigate high-asset divorces. We'll work with you to protect your property and help you seek an ideal outcome in your case.
Is California a Community Property State?
California is a community property state, meaning that property acquired during a marriage or domestic partnership belongs to both parties (unless explicitly stated otherwise due to a contract such as a marital agreement) and must be equitably divided among them. Additionally, certain assets and liabilities that once qualified as separate property can become marital property over time.
Understanding Property Division in California
For example, if one party owns a house prior to marriage, but during the marriage, both parties contribute to the mortgage and pay for expenses such as renovations and repairs, the court may determine that both spouses have a stake in the house and should be compensated thusly.
What Are Considered Valuable Assets in a High-Net-Worth Divorce?
Property division during high-net-worth divorces often involves valuable assets such as:
- Real estate
- And businesses
Frequently, parties find that assets they may have assumed were separate (such as the revenue from a business) are considered community property, and as such are eligible for division between both parties.
As a result, high-net-worth divorces often have unexpected ramifications for both parties in terms of financial impact and what assets or liabilities each party can expect to maintain sole ownership of post-divorce.
Additionally, the presence of a party with a significant income can affect how the court calculates child support and spousal support. Many high-income spouses worry they may receive a child or spousal support judgment that unfairly penalizes them for their income.
How Alternative Divorce Solutions Can Help You
At Alternative Divorce Solutions, our Bakersfield high-net-worth divorce attorneys understand how to help Californians with valuable assets and liabilities navigate the divorce process. We'll work tirelessly to protect your assets and rights during your case.
“Thank you for all your knowledge, conscientiousness, and kindness.”- Beverly
“First and foremost, I found that I had a lot to learn about the divorce mediation process. I did not exactly know what the role of the mediator was or if we would still have to go to Court.”- Donald B.
“I was so stressed out before I went to ADS. Once I got there Lani sat with me and my husband and explained the whole mediation process. After I left I knew exactly what to expect and ADS lived up to my expectations.”- Giz S.