Many California married couples enjoy the luxuries and benefits that come from earning high incomes. When such couples file for divorce, high-net worth property division issues can be quite complex. It is easy for obstacles to arise and critical to understand how community property division rules work and what options are available to help protect assets.
While it is true that many high income couples sign prenuptial agreements before marriage, this option does not guarantee that problems will not arise concerning community assets if divorce later occurs. Prenuptial contracts can indeed help define which assets are separately owned. However, sometimes separate property may be converted to community property when monies are commingled, such as in jointly owned bank accounts.
High-net worth couples also often face additional asset issues, such as those regarding vacation properties, businesses, retirement accounts and investments. Sadly, attempting to hide assets to keep them from being subject to division is a common problem many spouses face when their partners are willing to break the law to try to gain the upper hand in court. The good news is that there are steps that can be taken to uncover and rectify a hidden asset problem.
Leslie L. Abrigo, APC has more than 20 years of experience in providing guidance and support in high-net worth property division cases in California. Whether you need assistance researching evidence to find hidden assets or have questions regarding community property guidelines, by requesting a consultation, you can discuss your concerns in a confidential setting to help determine a best course of action. You’ve worked hard for what you own and it is understandable that you want to walk away from divorce with all that you are entitled to in your possession.