High-Net-Worth Divorce Expanded

High-net-worth divorces often involve complex assets such as 401ks, multiple bank accounts, stocks, property, and ownership interest in a business. To assist our clients, we decided to put together a list of the most frequently asked questions regarding high-net-worth divorce situations. If you have more questions, call The Moran Law Firm for a consultation.

Typically, in a high net divorce case, the wife who has been a homemaker during the marriage, is faced with a situation where she must consider where she is going to get the money to pay her attorney fees which in high net divorce cases can be very high. Family Code 2030 mandates that the party with greater ability pay the other parties attorney fees. At the outset of the case and during the pendency of the case as needed we will seek relief from the court and obtain the necessary attorney fees and expert fees to ensure that your rights are protected in the case

There is no limit to the amount of spousal support you can receive during the separation and after your divorce is entered. One criterion in determining the amount of support one receives after the divorce is finalized is the standard of living you enjoyed during the marriage. During the pendency of the case, the court must ensure that the standard quo at the time you separated be maintained. This means that the standard of living that you enjoyed immediately prior to separation be maintained. Long-term support which is ordered at time of trial takes many other factors into consideration, and maintaining your standard of living is one of these factors as well. You will want to discuss the specifics of your case with your divorce attorney.

Absent the existence of domestic violence or conduct from the other party which might be harassing in nature, judges in Los Angeles will typically not give the other party the exclusive control and possession over the family residence. Hence a husband and wife who are going through a divorce will have to face the difficult reality of either living with one another or one of the parties has to make a decision to leave the family residence.

In high-net divorces, there is usually no issue about one parties financial ability to move out. In these types of cases if both side decide to remain in the same house while going through a divorce it is usually out of spite and some sort of emotional attachment to the family residence. Where the parties have multiple homes, then it is easier to have the parties separate with each party taking up residence in different homes.

During a divorce proceeding, the sole income earner will have to continue making the mortgage payments as he or she has done during the marriage. In general, Los Angeles family court judges make sure that immediately after separation the status quo is maintained which means that the mortgage payments must continue to be made.

During a divorce proceeding, the party that was making the car payments during the marriage will have to continue making these payments. The court will make sure that immediately after the parties separation the standard quo is maintained which means that these payments must continue to be made.

California law will ensure that a spouse who is receiving spousal support will receive enough money in order to be able to save money after separation as the family used to do prior to separation. This is very important because many couples who have significant amount of income might not live a lavish lifestyle and opt to save money and invest instead.

In these cases the individual receiving support is placed in a position that her support might be compromised because she did not live a lavish life style during the marriage. The amount of spousal support will take into consideration the amount of money the parties were savings during the marriage. It is important to discuss with your Los Angeles high-net worth divorce attorney to make sure the information is presented to the court

Any businesses that existed prior to the marriage, and remained separate during the marriage,  will remain your spouse’s sole and separate property. However, the community will have an interest in the increased value of the business during the marriage. We can hire a forensic expert that will conduct a comprehensive valuation of the increased value to determine your financial rights acquired during the marriage.

In a high net divorce case the amount of spousal support is limitless but child support can be limited. The amount of child support is determined by a program called DissoMaster. This program calculates both child and spousal support by entering into the program the parties’ income, percentage of visitation and federal tax deductions in addition to other work-related expense. There are only a few situations where the court can deviate from the amount of child support determined by the DissoMaster, one of which the amount is too high and exceed the child’s needs

Speak to An Experienced Moran Law Firm High-Net-Worth Divorce Attorney
If you are going through a divorce and you or your spouse has significant assets, speak with one of our Attorneys today. High-net worth divorces are complicated, and it is critical that you work with a Firm that will seek to resolve your matter fairly and with integrity-without charging outrageous legal fees. Our legal team has handled complex high-net worth divorces, and we understand how to protect your financial position during a separation. Let us put our success and quality representation to work for you!

Learn More about High-Net-Worth Divorces, Call the Moran Law Divorce Attorneys today at (559) 264-2688 or set up an initial case evaluation here.