High Asset Divorce
Murrieta Divorce Lawyer – (951) 779-1610
Company executive, business owners, and other high-profile individuals can face significant and unique challenges when going through a divorce, especially pertaining to matters of property division. At Singleton Smith Law Offices, our Murrieta divorce attorneys have personally handled numerous high asset divorce cases and found success after success for our clients who had been fearful of losing prized possessions and assets. If you have found yourself in such a predicament, unsure of where to turn for reliable legal counsel, do not hesitate to contact us today.
Why people depend on us for high asset divorce cases:
- Teamwork approach to each case we accept
- Winners of the Client Distinction Award
- Multiple 5-star client testimonials
- Years of combined family law experience
Your wealth and your legacy are nothing that should be gambled during a high asset divorce. Move forward with confidence and our Murrieta family lawyers by your side. Call (951) 779-1610 at your first opportunity to begin.
Dividing & Valuating a Business
Many high asset divorce cases involve a married couple that managed a business together but there was never a clear indicator of who actually held ownership. This can complicate matters considerably as the divorcing spouses need to decide what to do with the business.
Three choices that are commonly used to handle a business in divorce are:
- Joint partnership: In an uncontested divorce that did not dig up any malicious feelings, it might be possible for both spouses to create or maintain a joint partnership over the business. This option will require significant cooperation and forethought, and might not be the best option for most divorcing couples.
- Buy-out: The spouse that feels most connected to the business may attempt to officially buy-out any ownership belonging to the other spouse. In an unofficial scenario, a spouse that wants to gain sole control of their business could exchange other assets, such as conceding any claim to the marital home.
- Total sale: Married couples that cannot come to a decision on who has the right to vie for ownership of the business may choose to sell it to a third-party, or liquidate it. The profits of such processes are then split accordingly, likely 50-50, between the couples.
Before any of the aforementioned steps can be carried out, though, the value of the business must be completely understood and accurately calculated. Otherwise, there is no way to compare its worth to that of other assets in the high net worth divorce. There are many companies that offer business appraisal services. Our Murrieta divorce attorneys can help you find one to evaluate your business.
Thorough Inventory & Asset Review
High asset divorces that do not involve the division of a business will still require the careful examination and cataloguing of high value items, such as real property, heirlooms, retirement accounts, and so on. In order to protect what is yours – separate property – and gain your fair share of community property, you must be thorough in keeping track of your property. Financial records, account transactions, wills that established inheritances, and more are all crucial to showing the court clearly what should belong to you by the time your divorce is finalized. When you retain our family law services, let us know what you consider to be your top priority items and we can begin our work there.
A Winning Team for Your Divorce
Singleton Smith Law Offices and our Murrieta divorce attorneys are no strangers to high asset divorces and all the complications that can surround them. When you are most concerned about what will happen to your hard-earned assets, carefully-constructed business, and beloved inheritances, contact our law firm. You can request a no-cost, no-obligation consultation with our team to begin hassle-free.