The Law Offices Of Joseph Torri
A California Family Law Firm
Call for Affordable Legal Services
Some of the most complex dissolutions of marriage happen to be high net-worth divorce cases. These types of cases require a lawyer that has a great deal of experience and expertise in this area compared to the average divorce. That is why you need the Law Offices of Joseph Torri.
The Law Offices of Joseph Torri have provided legal assistance to numerous high net-worth divorce clients throughout the Whittier area for many years. The Joe Torri law firm has developed a strong reputation as experienced family law and corporate law attorneys in the area. We are extremely knowledgeable about the various issues that are involved in a high net-worth divorce and we will use our knowledge to assist you in formulating an equitable dissolution of your marriage.
One of the most important aspects of a high net-worth divorce is the distribution of separate and community property. California is a community property state, meaning that all of the income and debts that have been accumulated during the marriage belong equally to both spouses.
This rule applies even if income was kept in a separate banking account. The first step of a high net-worth divorce is to complete a Schedule of Assets and Debts. All of the separate and community property must be listed, along with the value of the item. Having various items assessed and adding these assessments or appraisals with your list of assets and debts can assist in determining the value of the items and fairly distributing them among you and your spouse.
Pension plans and other types of retirement accounts that can include large values of financial products must often be joined as a party in the divorce. Your spouse may be entitled to one-half of the value. Businesses that are owned by one of the spouses may also be divided during the divorce proceedings. If your spouse signed a prenuptial or postnuptial agreement, we will seek to enforce this agreement during the divorce proceedings.
Whether you are a spouse who wants to seek the maximum settlement possible or you want to protect your net worth, the Law Offices of Joseph Torri can assist you.
During the divorce proceedings, the court will make important decisions regarding every aspect of your life. In addition to dividing your property, the court will:
Child support and spousal support awards can be quite sizeable when you have a high net-worth. Even if the majority of your funds are tied up in assets, such as property, high-ticket items and financial products, California courts have allowed a deviation from the standard formula in calculating the appropriate amount of support when one of the spouses owned many assets. When one spouse has a high net-worth, it is common for the other spouse to be the primary caretaker. This relationship and additional amount of time with the children are factors that the court will consider when determining what is in the best interest of the children.
A high net-worth divorce often involves a long and stressful process in which the values of assets are disputed, custody issues become heated and accusations of hidden assets are frequent. Do not go through this without the best possible representation possible. Protect your future and the future of your children with the Law Offices of Joseph Torri.