Hermosa Beach High Asset Divorce Lawyer

High Asset Divorce Attorney in Hermosa Beach, CA

Divorce is never easy, but the difficulties only increase when high assets are involved. Hermosa Beach is a wealthy and affluent area, and the couples living along The Strand or near the famous Hermosa Beach Pier hold their property close.

You have worked hard to acquire the things you have, and it is natural to be concerned over how these items of property will be divided in a divorce. Thankfully, a Hermosa Beach high asset divorce lawyer is here to help.

Rombro & Manley LLP: Protecting Your Property in a California Divorce

At Rombro & Manley LLP, we have over four decades of experience helping couples with a high combined net worth through a divorce. We understand that each divorce case is unique and can review your case to determine the most effective legal option for protecting what you hold dear. Our Hermosa Beach high asset divorce attorneys are dedicated to protecting your rights, property, and your financial future, no matter what.

Understanding High Asset Divorce Cases in Hermosa Beach

In Hermosa Beach, a high asset divorce occurs when the divorcing couple owns a substantial amount of marital assets and financial interests. No divorce is easy, but when high-net-worth is involved, there are several unique complications that arise. Like any California divorce, properties such as the family home, cars, or bank accounts will need to be divided between the couple, making it essential to work with an experienced family lawyer.

In high asset cases, certain assets require dedicated care and attention to ensure they are divided correctly between the couple. These include:

• Real estate holdings. In Hermosa Beach, the average home price is around $2,155,894. Homes of this high value can be fought over in a divorce, but they aren’t the only real estate holdings you and your spouse may own. You will likely also have to determine how to split vacation homes, commercial real estate holdings, and investment properties.
• Business interests. When one or both spouses have ownership stakes in a business, a partnership, or a professional practice, this can add an additional layer of complexity to the property division portion of a divorce. Valuing and dividing these assets can be complicated, and you will want to hire a lawyer who can assist you.
• Valuables and collectible items. When you and your spouse own any kind of antiques, jewelry, artwork collections, luxury items, collectible cars, or other possessions of high value, they are likely subject to division, and tensions can rise when deciding who gets what.
• Investments and securities. High-net-worth couples often have extensive investment portfolios, including things like stocks, bonds, retirement accounts, and mutual funds. These will likely be divided between the couple, and an attorney can ensure your rights to these securities are protected.
• Retirement accounts. Approximately 14% of the Hermosa Beach population is 65 years or older, making it a popular destination for many retirees. If you and your spouse own retirement accounts like IRAs, pensions, 401(k)s, or other similar accounts, these will likely be subject to a division.
• Trusts or estate plans. Couples who own a significant amount of wealth are more likely to have an estate plan in place to protect this wealth in the event of their death or mental or physical incapacitation. Things such as wills, trust funds, and other forms of asset protection will need to be reevaluated during the property division in a divorce.
• Intellectual property. Any copyrights, patents, royalties, or trademarks of inventions or other created works that were acquired during the marriage will likely need to be assigned a monetary value and divided between the couple.
• Tax liabilities. It will prove vital in a high asset divorce that your attorney explains to you all of the possible tax implications associated with capital gains, spousal support awards, asset division arrangements, and child support.

FAQs About Hermosa Beach, CA High Asset Divorce Laws

Who Gets the Family Home in a High Asset Divorce?

In a California divorce, the family home will likely be community property. If you and your spouse can achieve an uncontested divorce–meaning that you can agree on how property will be split without having to go to court–the answer to this question will be up to you. However, if you cannot reach an agreement, a family court judge will make the ruling for you, and you may have to sell the house and split the proceeds. Alternatively, one spouse may buy out the other spouse’s equity in the family home.

What Factors Impact Spousal Support Awards in a High Asset Divorce?

Spousal support is a key factor in many high asset divorce cases. When awarding spousal support in these situations, the judge will take several key factors into consideration, including the standard of living that was experienced during the marriage, the income and assets that each spouse is able to keep following the property division, the health and age of the spouses, and whether there are any disparities in income.

How Can a High Asset Divorce Lawyer Help Me?

When you work with a high asset divorce lawyer in California, they can help you in several ways. These include helping to identify and value all marital assets, minimizing tax implications, working with forensic accountants to uncover any hidden assets, negotiating on your behalf, and ensuring that all property valuations are honest and accurate.

What do I do if My Spouse is Hiding Assets?

Nearly 40% of all adults admit to some form of financial difficulty during their marriage or throughout divorce proceedings. In a high asset divorce, when a substantial amount of financial interest is involved, a spouse may attempt to conceal assets. If you notice large monetary transfers or inaccurate account information, this could be a sign that your spouse is attempting to conceal assets.

Hire a Hermosa Beach High Asset Divorce Lawyer: Contact Rombro & Manley LLP Today

A high asset divorce requires detailed attention, a strong legal strategy, and a thorough understanding of relevant California property laws. Without the right counsel, you risk facing an unfavorable outcome that goes against your interests and even violates your rights. Whether you own a slew of properties along the coastline or hold several large investments, the team at Rombro & Manley LLP is here for you. Contact us to hire a high asset divorce lawyer today.