Complex Financial Estates in San Diego
An Analytical and Experienced Attorney for Your Complicated Financial Matters
Attorney Leigh K. Galyon, APC has been helping clients navigate California’s family legal system for over 16 years. She is a straightforward and knowledgeable attorney who knows how to handle even your most complex issues. In fact, she prioritizes taking on complicated legal cases because she is capable of resolving them. Attorney Galyon is analytical by nature, which will come in handy as she negotiates your high asset divorce entailing complex financial estates.
Contact Leigh K. Galyon, APC for legal advice in your high net worth divorce matter. Call (619) 238-1223 or reach out to our firm online to get started in a consultation.
High Asset Property Division
One of the most important issues in a divorce is the division of assets. This becomes an especially important topic of negotiation when the divorce entails high-property assets and complex financial estates. In general, a high net worth divorce is one that involves a significant amount of property or assets amounting to $1 million or more.
Some examples of complex assets and estates involved in a high asset property division case are:
- Vacation homes
- Real estate
- Jewelry, antiques, artwork
- Investment property
- International property
- Intellectual property
- Retirement benefits and pensions
In many marriages involving complex assets, spouses might already have a prenuptial agreement in place addressing property division in the case of divorce. Such an agreements can help settle many important financial issues in advance and help to avoid a lengthy litigation. Note that it is possible to enter into a post-nuptial agreement after marriage if the spouses did not anticipate a prenup before marriage.
Community Property and Commingled Assets
Recall that California is a community property state, which means that all property acquired during the marriage should be divided 50/50 between the spouses, unless it is otherwise shown that the property in question is separate (non-marital) property. For example, one spouse’s business started during the marriage may be considered community property. Learn more on our Division of Assets page.
High asset divorce cases can also become complicated with commingled assets. Commingled assets are when separate property is mixed into community property (e.g., depositing separate bank account funds into a joint marital account), which complicates the process for delineating what property is separate and what is marital.
Significant Aspects of Complex Financial Estates
High net worth divorces are often lengthy and contentious, as not only do assets need to be identified and properly valued, but also investigated. Additionally, it may be further complicated to value assets like stocks or real estate holdings, which may appreciate or depreciate frequently. In such a case, an attorney may retain a valuation expert or appraiser to determine each asset’s value.
Another important consideration in a high asset divorce is the child support order, which is determined based largely on a parent’s income. In particular, California courts may order a parent to pay a certain amount if they have an extraordinarily high income. Such an order will also be based on the child’s lifestyle during the marriage, however. For example, if the children attended private school, the judge may issue a support order that will allow them to continue this same standard of living. The same applies to spouses seeking spousal support. An experienced lawyer can better help to clarify such a situation.
If you are facing a divorce involving complex financial assets, contact Leigh K. Galyon, APC for legal help in your high-asset property division matter today. Call (619) 238-1223 or reach out to us online.