Palm Desert High Asset Divorce Lawyer

Palm Desert High Asset Divorce Attorney

A knowledgeable Palm Desert high-asset divorce lawyer may be a necessary resource for someone who is going through a divorce. Divorces can quickly become complicated when large amounts of assets are involved. Each spouse will want to ensure their portion of the assets are protected. This can be done with the help of a divorce attorney experienced in high-net-worth divorces. Engaging an attorney early in the process is the right decision to make. Don’t go through your case without one.

What Is a High Asset Divorce?

High asset divorces are not legally defined. However, they usually have at least one spouse who is a high earner or has significant property that is subject to negotiation and division. These divorces typically involve large financials, various asset types, several different investments, and other unique complexities.

If you are going through a divorce, an experienced high-asset divorce lawyer can help you understand how interests in real estate, stocks, bonds, artwork, collectibles, and other valuables are handled during a divorce in California. Hiring a family lawyer to help navigate this challenging process on your behalf is highly recommended.

Common Mistakes Made in High Asset Divorces

There can be many mistakes made during the divorce process. Understanding these mistakes and knowing how to avoid them can be critical to the success of your divorce proceeding. Here are the most common ones:

• Don’t hide your assets. For some, the natural reaction to a divorce is to try to hide your assets. You may think that if you hide them, your spouse will never discover them and, therefore, won’t get them. It rarely works out this way. Even if it’s discovered years later that you hid your assets, it can mean trouble for you. Spouses have a fiduciary responsibility to each other and must be forthcoming about their assets.
• Don’t ignore tax implications. When assets of significant value are divided in a divorce, there can be tax implications. Paying alimony, suddenly becoming an owner of an investment account, and even child support can all come with a tax bill. It is important to hire an attorney who understands all this before the divorce papers are signed.
• Don’t underestimate your expenses. Following your divorce, you will be paying the full amount for many goods and services that you once split with your spouse. Having an attorney who is well-versed in these transactions will help you account for all your future expenses and needs.

FAQs About Palm Desert, CA High Asset Divorce Laws

Who Pays for Attorney Fees in a Divorce in California?

Attorney fees in Palm Desert are generally expected to be paid by each spouse. If each spouse gets their own attorney, then they have to pay for their respective services. There are, however, some situations where one spouse may pay for the other’s attorney fees. This usually only happens if one of the spouses requests it from a judge. The court will determine if it makes the divorce process fair and, if so, may grant that spouse the ability to have their lawyer fees paid for.

How Much Is the Attorney Fee for a Divorce in Palm Desert?

The attorney fee for a divorce in California will vary depending on a multitude of factors. For example, the experience level of the attorney will be a factor to consider. The fee will also depend on the attorney’s fee structure. Some family attorneys charge a retainer fee, and some may charge an hourly fee. The attorney’s fee may be greater for divorces that are contested versus divorces that are uncontested. Contested divorces likely require more work.

Is It Expensive to Get Divorced in California?

Getting a divorce in California can be expensive, depending on the circumstances. The total costs will depend on a number of factors, including how complicated your divorce is. For example, if you and your spouse have several issues to work out, like child custody, child support, spousal support, and property division, it will likely cost more. It is important to discuss your attorney’s fees at your first consultation.

What Is the Most Common Mistake Made in High Asset Divorces in Palm Desert?

One of the most common mistakes made in high-asset divorces in California is not getting a qualified attorney to handle your case. An attorney is an absolutely critical element of a successful divorce proceeding, especially if you have a contested divorce. An attorney can help you navigate through the California court system and ensure that all legal documentation and paperwork is filed appropriately. Additionally, an attorney can take the lead in negotiating with your spouse on key issues.

What Is a Summary Dissolution in California?

A summary dissolution in California is a way to end a marriage or domestic partnership quickly. It can be a much less complicated process than a traditional divorce. For those who qualify, the appropriate paperwork can be filed, and a settlement agreement can be completed. The summary dissolution option is typically used by couples who don’t have children and have relatively few assets. High net-worth divorces will likely not use the summary dissolution option in California.

Contact the Edgar & Dow for Excellent Legal Representation

High-asset divorces can be complex legal procedures. The last thing you want is to make a critical legal mistake because you didn’t have proper legal representation. There are several potentially costly mistakes people can make during these kinds of divorce cases, all because they didn’t hire the experienced legal representation they deserve. Once the divorce decree has been issued, the divorce is final, and it’s difficult to amend. Getting it right the first time is critical.

The legal team at Edgar & Dow understands how to help clients successfully navigate the California court process. We have represented many clients in Palm Desert and have successfully protected their interests in their divorce cases. With our legal help, you can rest assured you’re getting the legal representation you deserve. Contact us at one of our offices today to see how we can help you. The sooner you engage our team, the better we can assist you.