There are some divorce cases that are more complex than others. Some involve factors such as alimony, child custody, child support and more. If you own trusts, retirement accounts and other high-value assets, your divorce could be complicated and require a skilled hand to guarantee that you’re as protected as possible.
When you are going through a divorce that has complex issues, it’s a good idea to work with your attorney from the start. Even if you and your spouse agree that you can negotiate and work through property division decisions together, you’ll want to make sure you understand how the law applies in your case.
If you have a divorce with a great number of high-value assets to worry about and divide, remember that there could be business and tax consequences depending on how you divide these assets and if you cash them out. Working with a financial planner alongside your attorney is wise when it comes to complex situations involving monetary assets.
How is property divided in California?
California’s laws require that marital property is evenly split between spouses, which can mean that you have to sell property or assets to divide the value. You and your spouse can agree to other arrangements, though, if you think that dividing your property evenly is not fair or possible in your situation. Your attorney can talk to you more about how you can divide your property, the ways that would be best to preserve your finances and give you the best chance at a secure financial portfolio in the future.