San Bernardino High Asset Divorce Lawyer

San Bernardino High Asset Divorce Attorney

If you have questions regarding divorce law in the state of California, you should engage a San Bernardino high-asset divorce lawyer. California divorce law can be complicated, and an experienced legal professional is often required to help you along the way. Whether you are going through a divorce, expecting to go through a divorce or know someone who is in the midst of the legal process, a family lawyer can be a crucial benefit to have on your side.

How Assets Are Treated in Divorce

One of the first steps is understanding how divorce courts will treat certain assets. Assets will be divided into marital property and separate property. Marital property is any property that was jointly owned during the marriage. This could be property acquired before or after the marriage took place. Marital property can include things like:

• Primary residence
• Vehicles
• Business assets
• Investment accounts
• Other real estate
• Bank accounts
• Retirement accounts
• Collectibles
• Artwork

Separate property is property that was owned prior to marriage. It’s possible for separate property to turn into marital property. For example, assume you owned a home before you were married. Once you married your spouse, the two of you moved into your home together. If your spouse contributes to the household, then it can be considered marital property from the day the spouse moves in.

Property that’s inherited or gifted to an individual spouse could remain separate property, but it depends on the specific details of the transaction. Generally speaking, marital property is liable to be equitably distributed during the divorce, while separate property is usually kept separate.

Trusts and Asset Protection in Divorce

A trust can be a valuable part of any estate plan to ensure asset protection. A trust is a legal entity that can hold assets, usually to provide financial protection in the event of a death. Those who have worked hard to build business and other financial wealth would do well to protect their assets in a trust. Determining whether your trust will be upheld in your divorce proceeding, however, can be more complicated.

Generally, trusts established before marriage should be upheld in a divorce decree as separate property. Certain kinds of trusts, though, can be subject to claims of alimony, child support, and taxes. You will want to speak to an attorney on any trust matters included in your high net worth divorce.

FAQs About San Bernardino, CA High Asset Divorce Laws

How Much Does It Cost to Get a Divorce in San Bernardino County?

The amount it costs to get a divorce in San Bernardino will depend on the specific details of the case. You will need to consider the county court filing fees, attorney fees, and other costs that could come up. Generally speaking, the more complex the divorce is, the more it will cost. High-asset divorces often present unique challenges that require a professional attorney. Items like child custody and spousal support are critical items that could raise the costs if not promptly resolved.

How Can I Protect My Assets in a Divorce in California?

There are a few different ways you can protect your assets in a divorce in California. A postnuptial or a prenuptial agreement is one of the most effective ways. You could also create a will or a trust for more protection. You should engage an experienced divorce attorney who can explore legal avenues and strategies to protect your assets. An experienced professional understands the complexities of divorce law and knows how assets can be distributed.

Is California a Community Property State?

Yes, California is a community property state. In divorce proceedings, the court will divide the property into separate and community property. Community property is that which was jointly owned during the marriage, and separate property is that which was owned individually or before the marriage.

There are also cases where a spouse could inherit property during their marriage, and it still is considered separate property. An attorney can be helpful in classifying your property to help you prepare for the divorce.

How Long Does a Divorce Take in California?

The length of the divorce process depends on a multitude of factors. Typically, high asset divorces are more complicated than traditional ones, so the process could take longer to resolve. It also depends on the amount of negotiation that’s needed. For example, if spouses are not in agreement with issues such as child support, the process can be lengthy. California law requires a six-month waiting period, so couples have to wait at least six months until the divorce can be completed.

What Is a Common Mistake Most People Make in High Asset Divorces in California?

One common mistake people make during their high-asset divorce in California is making assumptions about their case. People sometimes assume they know how property will be divided or who will get to keep certain assets. The reality is high net worth divorces are complex matters, and there are several variables that need to be accounted for. The right thing to do is engage an experienced divorce attorney who can help you be well-prepared for the case.

The Edgar & Dow: A Law Firm That Cares

Divorces are often difficult for both spouses. They can be especially challenging when there are substantial assets involved. The divorce process can take a physical, mental, and emotional toll on everyone involved. It’s not uncommon for divorcing spouses to get into disputes, prolonging the process. One of the most important things to do is engage the help of a divorce attorney. They can help you protect your significant amount of property.

The legal team at the Edgar & Dow has a demonstrated history of helping countless individuals with their divorce cases. We pride ourselves on serving our community, and we employ the compassion, dedication, and determination necessary to get you the legal results you deserve. We have the resources to explore every legal avenue available to you. Contact us today to speak with a member of our team for help.