High Net Worth Divorce Attorneys in Los Angeles, CA
Los Angeles County is home to many high net-worth individuals. When going through the divorce process, these individuals often face unique challenges with regards to division of assets, determining the value of investments, factoring in debts and liabilities, and more. There is a lot more at stake, and often more scrutiny. It is important that you work with Los Angeles high-net worth-divorce lawyers who know how crucial discretion, care, and professionalism is for your case.
Any divorce case has the potential to be complex and contentious, and this is especially true of high-net-worth divorces. Both parties want to protect their financial interests, for themselves and their families. The higher stakes can lead to greater contention, and so can disputes over the valuation of assets. All of these elements must be handled with exceptional care by a lawyer with the resources and skills needed to address your family’s unique needs.
Diligent Legal Support From Zitser Family Law Group, APC
High-asset and high-net-worth divorces often involve numerous complex assets, including businesses, existing trusts, and more. Many high-net-worth couples have an existing prenuptial agreement which will impact the divorce process. Even with a prenuptial agreement in place, divorce proceedings for high-net-worth individuals are often still complex and require a unique perspective, thorough knowledge of family law, and experience with significant assets.
You need legal support with substantial experience who understands the unique care of high-profile and high-net-worth divorces. As Los Angeles divorce lawyers for high net-worth individuals, our team at Zitser Family Law Group, APC is capable and ready to assist you throughout the process, from planning, to mediation with a private judge, to court proceedings, and everything in between. Contact our firm to discuss your situation.
Our team knows how crucial it is that you and your family are able to maintain your standard of living and take the time to understand your priorities for property division in your divorce case. We know how to navigate complex assets and use our resources to evaluate them appropriately. Our team keeps your divorce secure and private while doing what is necessary to protect your interests and the interests of your children.
Defending Your Assets
The primary difference between high-net-worth divorces and other divorces is the immense value and complexity of the property involved. In any divorce, marital or community property is divided according to community property laws, meaning that each spouse receives an equal portion of marital assets.
How those assets and debts are split may be determined by spouses, the court, or by a preexisting prenuptial agreement. Valuing and splitting complex assets and debts takes time and resources.
It is critical that any divorce attorney for those with a high-net-worth recognize and understand the many complexities that come with determining net worth, including all assets and liabilities. At Zitser Family Law Group, APC, we have experience with all of the common items that may be at issue, including:
- Family businesses and family homes.
- Stocks, bonds, and other investments.
- Retirement funds and 401Ks.
- Joint bank accounts.
- Family heirlooms and inheritance.
- Cars, yachts, and other luxury vehicles.
- Luxury property, including art and antiques.
- Professional practices.
- Trusts and distributions.
- Estate planning documents.
- Commercial real estate.
- Debts and liabilities incurred during the marriage.
We also have experience working with those that have automobile collections, investment properties, vacation homes, and more. Determining the value of these assets and whether they are separate or community assets can require resources like professional appraisers, forensic accountants, and tax consultants.
Those with a high-net-worth often have substantial assets and liabilities that need to be taken into account to successfully determine overall net worth, division of assets, and more. We also know how important it is to account for their standard of living, spending allowances, and other issues that often complicate proceedings for less experienced attorneys.
Above all else, we recognize the importance of discretion and will do whatever we can to ensure that all details of the planning and divorce proceedings are kept private.
Maintaining Your Lifestyle
Divorce changes many aspects of life, and an individual’s finances are certainly one of them. However, this does not mean that you have to forfeit the lifestyle you maintained during your marriage. Courts must distribute assets equally and provide spousal support so that neither party can enjoy a better lifestyle at the expense of the other. This lifestyle should also extend to any children you have.
Our law firm ensures that the court has all of the information it needs to fairly consider all of the financial issues on the table. We will bring in vocational experts, lifestyle experts, and financial professionals if necessary to help us advocate on your behalf.
Discreet Divorces for Celebrities and Those in Entertainment
Divorce is never easy. That being said, divorces for those who work in the entertainment industry are often more so. Not only are there unique challenges – including both tangible and intangible assets, as well as legal complexities that affect only those in the entertainment industry – but there is also the potential for the world at large to be interested in the details of your divorce. A high-profile divorce only increases the strain on you and your family.
Zitser Family Law Group, APC is committed to maintaining your privacy and confidentiality throughout every step of your divorce. We work to keep your divorce out of litigation and public accessibility. You can put your trust in us to help you keep your personal matters under wraps while protecting your assets and future.
Why Choose Zitser Family Law Group, APC
Here at Zitser Family Law Group, APC, we have represented dozens of divorces for those working in the entertainment industry, including defending those involved in potentially high profile dissolutions. Our team has represented actors, screenwriters, musicians, directors, authors, and more, and we have done so with the utmost discretion and attention to the needs of each client.
We have over 20 years of experience handling cases similar to yours, and we understand the challenges that life in the entertainment industry presents, including complexities such as:
- Child custody for those that spend months on location.
- Media influence and the potential biases they can create.
- Division of royalties and intellectual property rights.
Asset division in a divorce, especially without a prenuptial agreement, means that often the individual will need to protect assets such as screenplays, software code, digital content, and more, all of which a court needs to determine how to divide among all parties. Our team can help you represent these assets and ensure they are divided fairly and in accordance with California state law.
Based in Los Angeles and serving both LA County and Orange County, we have better expertise than most at the issues that arise during these entertainment industry divorces, and since we also know that most in the entertainment industry are subject to intense public scrutiny, we will also do whatever we can to keep details of the case safe, secure, and private.
Other Complex Aspects of a High-Net-Worth Divorce
Property division is not the only element of a divorce that is affected by high-net-worth and complex marital and separate assets. Couples with complex assets also have added difficulties in determining alimony, providing financial support for their children, and the possibility of hidden assets. These are concerns that must be addressed with care and experienced legal support.
Alimony in High-Asset Divorces
Because the state is a community property state, disparity between income or assets is more commonly addressed with spousal support, or alimony. High-net-worth couples may have significant differences in income and separate assets, and the equal division of marital assets does not change this fact.
Alimony can be awarded during the divorce proceedings, awarded as part of the divorce decree, or both. The court will consider several factors when determining if alimony is awarded, as well as how much alimony and for how long.
The court will review factors like:
- The standard of living and lifestyle that each party is used to
- The income and earning capacity of each party
- The value of each party’s separate assets and debts
- How long the parties were married
Alimony in high-net-worth divorces also has higher tax implications to consider, which are part of fair calculations. High-net-worth divorces may consider unique factors when determining alimony, depending on a family’s circumstances. Determining all of these factors can take significant time and resources to properly calculate. Even if couples agree on spousal support outside of court, the court will still have to determine if that amount is fair.
It is important to have legal support by your side to ensure your rights and financial interests are protected. The intention of alimony is to provide both spouses with immediate financial support, and to ensure both spouses are able to maintain a sustainable future financially.
Child Support and Custody in High-Net-Worth Divorces
When the court determines child custody and child support, the child’s best interests are the priority. There are unique considerations in high-net-worth divorces because your children are used to a higher standard of living which the court aims to maintain.
Child custody will have to consider unique issues like frequent and international travel of parents while ensuring a child has a stable living environment and spends time with each of their parents. A child’s school and extracurriculars are also important considerations when determining custody and visitation. The support of the right attorney helps parents protect their needs and plan for these unique complications in their lives while upholding the child’s interests.
Child support is also affected by high-net-worth divorces. Child support is typically determined on a formula, considering the income and custody each parent has. However, in high-net-worth divorces, these guidelines are often less strictly followed. There are unique and extraordinary expenses to consider, such as:
- Private school
- Expensive sports and extracurriculars
- Luxury vacations and travel
- High-cost healthcare
The court is likely to add these expenses into the calculations for child support. Properly calculating these elements takes care and resources.
Hidden Assets in High-Asset Divorces
Hidden assets are more common in high-net-worth divorces. Couples have a lot more to potentially lose. Spouses may hide assets out of spite because they have an emotional attachment to the assets, or out of fear of financial instability.
When a spouse hides separate or community assets, it can affect several aspects of the divorce, including the division of marital assets and determinations for alimony. Hidden marital assets means that the other spouse will receive less than an equal half of the assets. Hidden separate assets make it appear that a spouse has fewer resources than they do, which affects how alimony is calculated and awarded.
If you suspect your spouse is hiding assets, it is important to discuss this with your attorney to determine your next steps.
Contact Zitser Family Law Group, APC
If you work in the entertainment industry in Los Angeles and are going through a divorce, contact Zitser Family Law Group, APC today. Our firm is committed to helping protect your rights, your privacy, and your future. Contact our office today to learn more about how we can help you.
