Los Gatos High Asset Divorce Lawyer

Los Gatos High Asset Divorce Attorney

Going through a high-asset divorce in California can be overwhelming. A high-asset divorce involves unique challenges, such as combing through years of financial records, identifying complex compensation structures, addressing potential hidden assets, and still being present for your minor children while navigating custody agreements. With so much at stake, it is important to seek experienced legal representation from a Los Gatos high-asset divorce lawyer.

Our seasoned legal team at the Law Offices of Rod Firoozye is here to guide you through this complex process. With nearly 30 years of experience handling sophisticated family law matters throughout Los Gatos and Santa Clara County, we are ready to protect your hard-earned assets and protect your financial stability so that it is not compromised during divorce proceedings.

What Is a High-Asset Divorce in California?

In California, a high-asset divorce involves assets that total over $1 million combined. Assets can include property, real estate, cars, retirement accounts, investments, bank accounts, artwork, and more. California is a community property state, so any asset that was gained during the marriage is subject to a 50/50 split in court.

Substantial assets can really complicate the divorce process and make it incredibly difficult to reach settlements outside of the court. It is important to have solid knowledge and understanding of your assets and financial situation, as well as being able to share the required financial documents.

High-asset divorces may also involve complex issues that can include business valuations, executive compensation packages, and stock options. Hidden assets, tax consequences, and disputes over community property can also fall under this category.

A Los Gatos high-asset divorce lawyer can help you obtain these documents and navigate the complicated divorce process with confidence.

Common Mistakes in a High-Asset Divorce

Los Gatos is one of the richest suburbs in California, with a median household income of $207,891 and a median property value of $2 million. Most couples who choose to dissolve their marriage fall into the category of a high-asset divorce in the Los Gatos area. As emotions are running high, it may be tempting to smudge some numbers or hide assets away to keep them from the divorce, but this should never be done. Here are some common mistakes you can avoid:

• Attempting to hide assets or keep offshore accounts
• Failing to properly value businesses or properties correctly
• Overlooking tax consequences
• Settling too fast, making hasty agreements in the heat of the moment
• Moving out too early
• Failing to investigate deeper into the financials
• Not retaining experienced legal counsel

With the assistance of our legal team at the Law Offices of Rod Firoozye, we will assist you in avoiding these common mistakes. We will consult with experts to properly value any real estate or property. We will also seek the aid of forensic accountants to help analyze data and look for any discrepancies.

Our team can advise on how to calculate your tax obligations so that you are receiving equitable assets after the divorce is finalized. High-value assets come with high tax obligations; we will check to see if there are unpaid taxes prior to coming to an agreement on how to divide assets

Divorces can be emotionally charged times and cause some to act rashly when trying to rush the process. At the Law Offices of Rod Firoozye, we want to make sure you do not lose out because of this and will help you through the process.

FAQs

What Assets Cannot Be Split in a Divorce in California?

California recognizes marital property as community property and is subject to equitable distribution. Property that was acquired before the marriage, gifts or inheritance given to one spouse, and assets gained after the date of separation are not subject to this division. A high-asset lawyer can review documentation and help determine what qualifies as community property.

Why Is Moving Out the Biggest Mistake in a California Divorce?

In California, moving out early can be a major mistake as it can negatively impact child custody, harm property rights, and cause financial strain. If you leave, then the remaining spouse becomes the primary caregiver and occupant of the house, which can weaken claims in court if you wish to possess the home or want primary custody.

What Is a High Net Worth Divorce in California?

A high net worth divorce in California is typically between couples who have over $1 million in net assets. These cases are often far more complex than a typical divorce with large financial portfolios involving businesses, stocks, real estate, and accounts. High-asset divorces require expert valuation, forensic accounting, and the aid of a Los Gatos divorce lawyer to help navigate California’s 50/50 community property laws.

Who Loses More Financially in a Divorce?

Both parties face significant financial implications following a divorce, but women suffer more. Approximately one in five women falls into poverty following a divorce. After a divorce, individuals need at least a 30% increase in income in order to maintain the same standard of living, according to the Central Bank. Additional financial losses stem from increased income tax, an increase in child care costs, housing costs, and legal fees

Hire a High-Asset Divorce Lawyer in Los Gatos

When you hire a high-asset divorce lawyer from the Law Offices of Rod Firoozye, you are choosing a firm with experience helping hundreds of clients with their high-asset divorces. Our team will consult with experts to help uncover hidden assets; give your real estate, business, or properties an accurate valuation; and work toward getting you your fair share.

We understand how complicated these situations are and can help you navigate this process, as well as protect your rights and future. Our team has a strong working relationship with the Family Justice Center Courthouse at 170 Park Avenue in San Jose, where most high-asset divorce cases are heard for Los Gatos residents

Contact us today to schedule an initial consultation and gain the confidence you need to move forward, knowing your assets and properties will be protected after your divorce.