Not all divorce cases are simple and straightforward. People’s lives are all different, and when certain divorce cases arise, it’s clear to both parties immediately that all the processes that must be completed, including that involving property and asset division, will be extremely complicated. If this is a situation that you face and you want to be sure that your rights are properly protected, seek the help of experienced San Diego complex divorce attorneys. Below is an overview of what could arise that creates the need for this sort of help.
When a couple has a high amount of net worth and assets that exist in several different contexts, a question that often arises is whether any particular asset is marital property subject to division or separate property that should be protected. This is particularly true if any assets have been sold or invested into other assets. This can also lead to complex issues regarding the liquidation of certain assets in order to satisfy the need for a fair division. There are times when one party wants an asset liquidated while the other does not.
When a marriage occurs and at least one person is of a high net worth, it’s common for either a prenuptial agreement, a postnuptial agreement or in some cases both to be executed and in place. However, just because these contracts were properly executed and are valid, that does not mean that questions and challenges will not arise regarding the enforcement and interpretation of certain terms. These disputes can take much in the way of effort to resolve.
When two people have a marital estate that’s of high net worth, the tax consequences of separating that estate can be severe for one or even both parties. These tax issues need to be carefully analyzed and projected for both spouses before the estate is divided not only for the good of those involved but in order to minimize the chance that a dispute will arise down the road.
In addition to the problems that could arise regarding tax liability, if one of the spouses has an ownership interest in a business, the process of accounting for this asset can be difficult. Placing a numerical value on this ownership interest can require the help of accountants, and whether or not this ownership interest is even subject to the community property division is another question that could arise.
Finally, if a married couple has a high net worth, that couple usually has one if not several documents and instruments in place that deal with their estate upon one or both of their deaths. These instruments often confer benefits on a surviving spouse, and these instruments need to be adjusted or revoked so that issues do not arise well after a divorce is complete.
If you are facing a complex divorce, you owe it to yourself to protect all that you’ve worked so hard to attain. Contact the San Diego complex divorce attorneys at the Law Offices of Mens Divorce Lawyers today to schedule an initial consultation.
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