High-Asset Divorces in San Joaquin County California

In recent years, people have started staying single longer before getting married. And though correlation does not equate to causation, the US divorce rate has fallen in recent years too.

But despite all of that, divorce is just inevitable in some cases. This is often a complicated process—especially in the case of high-asset divorces.

Of course you want to protect your assets and navigate the legal system without causing any collateral damage. But during this emotionally charged time, it can be challenging to know what decisions make the most sense and protect your best interests.

At Bansmer Law, we have helped hundreds of clients win a favorable outcome in their high-asset divorce. Our experience, attention to detail, discretion, and professionalism will make your divorce proceedings as straightforward as possible.

What Factors Do California Courts Consider When Determining the Division of Property in a High-Asset Divorce?

While dividing property in a high-asset divorce, California courts consider the following:

• The financial declarations of disclosure you and your spouse are required to fill out
• Which property is community property
• Which property is separate property
• Which, if any, property is a mix of community and separate

During a divorce in California, property is divided into these two categories: community and separate.

Basically, community property is anything accrued during the marriage. Separate property covers gifts, inheritance, assets owned before you were married, and those acquired after the separation.

If you are thinking this could quickly become complicated in a high-asset divorce, you are correct. Say you both are considering selling real estate as part of the divorce. Splitting the appreciated value will also involve potential capital gains and/or tax repercussions.

So, even though California law looks simple in regards to dividing property during divorce, a high-asset divorce in CA is far more complex.

Working with an experienced, focused high-asset divorce lawyer is the best way to effectively navigate this process.

Can a Prenuptial of Postnuptial Agreement Impact the Division of Assets in a High-Asset Divorce?

Yes, a prenuptial or postnuptial agreement can impact the division of assets in a high-asset divorce.

Per the Uniform Premarital Agreement Act, so long as the agreement is signed by both you and your spouse and meets a few other requirements, it will be taken into account while the court divides property.

That said, certain things by law are not eligible for inclusion in a prenuptial or postnuptial agreement in California. This includes details related to childcare and certain financial incentives.

Lastly, California law also requires that independent legal counsel—meaning lawyers—are involved in the process. It is always in your best interest to work with an expert California family and divorce lawyer, whether for a prenuptial or postnuptial agreement.

Potential Complexities During High-Asset Divorces

Some of the many assets that can make a divorce between high-net-worth individuals more complicated include:

• Homes, whether vacation, primary, or secondary
• Businesses
• Intellectual property
• Investment properties
• Bonds and/or other investments
• IRAs, 401(k)s, retirement, and pension accounts
• Stocks, which include RSUs (restricted stock units) for founders, executives, and early employees
• Jewelry
• Horses
• Art
• Cars, boats, and other vehicles

Each asset must be assessed in a different, appropriate way for the courts to divide property. Details like debts, upkeep costs, interest, tax ramifications, and so much more make high-asset divorces quite involved.

Hiring a detail-oriented, experienced California divorce attorney often results in more options while dividing assets.

At Bansmer Law, we have the experience that allows us to see both the big picture and the intricate details. From mediating with your spouse to protecting what is rightfully yours, we will assist you in winning a favorable outcome.

How are Retirement Accounts, Pensions, and Other Complex Financial Assets Divided?

Because California follows community property laws, retirement accounts, pensions, and other complex financial assets are subject to a 50/50 split between you two. This is not a guaranteed outcome, but a possible one if you did not establish a prenuptial or postnuptial agreement.

California courts also often follow a time-rule formula for dividing these funds. By comparing how long the retirement plan existed through the marriage versus the total time the plan has existed, courts can calculate a percentage they believe to be fair.

But it all depends on how your divorce unfolds and what your spouse is willing to negotiate. For example, the marital home can be a good trade-off or bargaining chip to keep retirement funds from being impacted.

Consulting a skilled California divorce attorney like Erica Bansmer is the best way to get a clear picture of how your assets can be divided.

Choosing the Right Attorney for Your High-Asset Divorce in San Joaquin County

The bottom line is that every high-asset divorce in California is different. The total net worth, associated debts, any pre/postnuptial agreements, and children involved are just a few of the details that impact the outcome.

Trying to calculate the potential benefits and ramifications of your various assets—or tasking an inexperienced divorce attorney with doing so—is like trying to move mountains at a time when you are already overwhelmed.

But when you work with Erica Bansmer and the Bansmer Law team, you get so much more than an expert California high-asset divorce attorney in your corner. She strives to serve as a trusted adviser so that you can get the maximum benefit from her knowledge and experience.

Ultimately, we understand that divorce is so much more than a complex legal process. We pride ourselves on being sensitive to the heavy emotional impact that divorce can carry and helping you lighten the burden.

If you are navigating a high-asset divorce in California, contact Bansmer Law now for your consultation. Call us at (209) 474-2400 or contact us online.