San Francisco High Net Worth Divorce Attorney
Divorce is never an easy time for anyone involved. But when the divorce involves a couple with substantial assets potentially worth millions of dollars, things often escalate quickly. And sorting out the financial issues from such divorces is not as quick or simple as simply splitting everything in half.
The reality is that with complex assets comes complex legal issues. A qualified San Francisco high net worth divorce attorney can help you through this process. Cardwell Steigerwald Young LLP is a Bay Area family law firm that specializes in representing clients with significant assets to protect and assert their rights under the law. We can assist you in understanding the legal issues involved and work to ensure you the most favorable outcome for your case.
Unique Challenges Facing High Net Worth Couples in Divorce
As you probably know, California is a community property state. In simple terms, this means that in a divorce, any marital property is subject to an equal division. In a high net worth divorce, this means each spouse will likely walk away from the marriage with millions. What tends to complicate matters, however, is that much of the couple’s net worth is tied up in assets that cannot easily be liquidated.
Indeed, it is often a challenge to simply get a handle on how much a high net wealth couple even owns. In any California divorce case, both sides are required to disclose complete financial records. Spouses often try to “hide” or conceal assets from the other spouse. And even when there is broad agreement on what the spouses own, they may have different ideas over what certain assets are worth. This may require the services of an expert witness. Similarly, the parties may need additional experts to determine the potential real estate, tax, and estate planning implications of the divorce.
High net worth divorces also present unique challenges when it comes to determining child support and alimony payments. A party’s income is generally the most important factor in making such determinations. Yet when it comes to high net worth individuals, much of their income may be passive or harder to precisely calculate than someone who works a regular, 40-hour wage job.
Finally, many couples involved in a high net worth divorce want to keep their dirty laundry away from public eyes as much as possible. Alternative dispute resolution such as mediation or arbitration can offer a more private–and less-expensive–means of resolving a divorcing couple’s financial issues than going through a public trial in Superior Court. Even when such methods cannot resolve every outstanding financial issue, they can still minimize the amount of time you need to spend arguing before a judge.
Contact Our San Francisco High Net Worth Divorce Attorney Today
Navigating a high net worth divorce is a complicated task. One way to help make things easier for you and your family is to work with an experienced San Francisco high net worth divorce attorney. Call Cardwell Steigerwald Young LLP today at 415-259-5885 to schedule a consultation.
