Property division can be one of the most difficult and contentious issues in divorce, especially when there are significant assets or property interests involved. Hiring a skilled, competent divorce lawyer is paramount to securing a property division arrangement that reflects your best interests. At the law office of David J. Crandall, we work hard to mitigate the pain and complexity of property division in divorce while relentlessly advocating for our clients' interests.
Division of Assets in a High Net Worth Divorce
California property division laws require equal division of marital assets in divorce where there is not a pre-nuptial or post-nuptial agreement. However, in a high asset divorce, it is critical for your divorce lawyer to take special caution to ensure all property is accurately classified as marital property (community property), separate property (non-community property/non-marital property) or a combination of separate property and marital property. We work with skilled professionals to ensure all property is accurately reported and valued, including:
- Locating hidden assets
- Obtaining proper business valuations
- Tracing separate property to determine if it was co-mingled with marital property
- Identifying the augmented value of separate property
- Valuing income from real estate rental property
- Establishing a Qualified Domestic Relations Order (QDRO) for the division of retirement and pension accounts
- Determining the future of a family business (Is a business buyout or buy-sell agreement appropriate, or is the business dissolving?)
Child Support in a High Net Worth Divorce
California child support guidelines are designed to formulate a realistic child support obligation when parents are no longer raising the children in one household. However, the formula that determines child support is primarily designed for the average, median- to low-income family. These child support guidelines may not be appropriate when one or both parents have higher income or assets. Family courts can use their discretion in designing an alternative financial arrangement or may order the standard child support guidelines be utilized, depending on what is in the best interests of the children. We represent high-income earners requesting a lowered child support obligation as well as parents pursuing an augmented child support payment due to the other parent's wealth.
Contact a Reputable, Knowledgeable Divorce Lawyer
Attorney David J. Crandall has more than 35 years of experience as a lawyer and a licensed real estate broker. His complex understanding of real estate and business issues is an asset in high net worth divorces. Contact the law office of David J. Crandall to consult with an experienced divorce attorney who can provide you with the assurance you need throughout your divorce.
Our law firm has been serving clients throughout the San Fernando Valley and Ventura County since 1974. Our fees are always competitively priced.
