HIGH-NET WORTH DIVORCE
Los Angeles High-Net Worth Divorce Attorney
Los Angeles is an affluent city. It is home to celebrities, business owners, and entertainment industry moguls. Given the financial resources of many Los Angeles residents, our divorce attorneys often assist clients with high-net worth and substantial assets. If you are going through a divorce and are concerned about protecting your wealth, call Los Angeles high-net worth divorce attorney Hossein Berenji.
Berenji & Associates is conveniently located in downtown Los Angeles and Beverly Hills.
High-Net Worth Divorce Overview
High-net worth divorces often involve complex assets such as 401ks, multiple bank accounts, stocks, property, and ownership interest in a business. To assist our clients, we decided to put together a list of the most frequently asked questions regarding high-net worth divorce situations. If you have more questions, call Hossein Berenji for a free consultation.
Q: I have never worked during the marriage how will my attorney fees get paid?
A: Typically, in a high net divorce case, the wife who has been a homemaker during the marriage, is faced with a situation where she must consider where she is going to get the money to pay her attorney fees which in high net divorce cases can be very high. Family Code 2030 mandates that the party with greater ability pay the other parties attorney fees. At the outset of the case and during the pendency of the case as needed we will seek relief from the court and obtain the necessary attorney fees and expert fees to ensure that your rights are protected in the case.
Q: How can I make sure that the high standard of living I enjoyed during the marriage is maintained after divorce?
A: There is no limit to the amount of spousal support you can receive during the separation and after your divorce is entered. One criteria in determining the amount of support one receives after the divorce is finalized is the standard of living you enjoyed during the marriage. During the pendency of the case the court must ensure that the standard quo at the time you separated be maintained. This means that the standard of living that you enjoyed immediately prior to separation be maintained. Long-term support which is ordered at time of trial takes many other factors into consideration, and maintaining your standard of living is one of these factors as well. You will want to discuss the specifics of your case with your divorce attorney.
Q: After I file divorce do I need to continue living in the same house with my husband?
A: Absent the existence of domestic violence or conduct from the other party which might be harassing in nature, judges in Los Angeles will typically not give the other party the exclusive control and possession over the family residence. Hence a husband and wife who are going through a divorce will have to face the difficult reality of either living with one another or one of the parties has to make a decision to leave the family residence.
In high-net divorces there is usually no issue about one parties financial ability to move out. In these types of cases if both side decide to remain in the same house while going through a divorce it is usually out of spite and some sort of emotional attachment to the family residence. Where the parties have multiple homes, then it is easier to have the parties separate with each party taking up residence in different homes.
Q: Who will pay the mortgage payments for our expensive family residence if my spouse who was the sole income earner leaves the family residence?
A: During a divorce proceeding the sole income earner will have to continue making the mortgage payments as he or she has done during the marriage. In general, Los Angeles family court judges make sure that immediately after separation the status quo is maintained which means that the mortgage payments must continue to be made.
Q: Who will pay the my car payments?
A: During a divorce proceeding the party that was making the car payments during the marriage will have to continue making these payments. The court will make sure that immediately after the parties separation the standard quo is maintained which means that these payments must continue to be made.
Q: We have been able to save money aside from our lavish lifestyle. Can I continue to save money after separation?
A: California law will ensure that a spouse who is receiving spousal support will receive enough money in order to be able to save money after separation as the family used to do prior to separation. This is very important because many couples who have significant amount of income might not live a lavish lifestyle and opt to save money and invest instead.
In these cases the individual receiving support is placed in a position that her support might be compromised because she did not live a lavish life style during the marriage. The amount of spousal support will take into consideration the amount of money the parties were savings during the marriage. It is important to discuss with your Los Angeles high-net worth divorce attorney to make sure the information is presented to the court.
Q: My spouse owns many businesses, properties and has many accounts, how can I make sure I get my equal share?
A: To determine the extent and nature of the community assets in a high net divorce requires the retention of a forensic accounting experts. These accountants who have experience in handling high net divorce cases are able to look at your spouse’s businesses and determine the cash flow available for support and determine the value of the asses that need to be divided.
Q: My spouse had many businesses before we got married. Do you have any interest in these businesses?
A: Because this business existed prior to the marriage it is deemed to be your spouse’s sole and separate property. However, the community will have an interest in the increased value of the business during the marriage. Your divorce attorney will hire a forensic expert who has the expertise to conduct such valuations to determine your rights.
Q: Will my child support be limited?
A: In a high net divorce case the amount of spousal support is limitless but child support can be limited. The amount of child support is determined by a program called DissoMaster. This program calculates both child and spousal support by entering into the program the parties’ income, percentage of visitation and federal tax deductions in addition to other work-related expense. There are only a few situations where the court can deviate from the amount of child support determined by the DissoMaster, one of which the amount is too high and exceed the child’s needs.
Speak to An Experienced Los Angeles High-Net Worth Divorce Attorney
If you are going through a divorce and have significant assets, speak with a Los Angeles high net worth divorce attorney at Berenji & Associates today. High-net worth divorces are complicated and you want to make sure the matter is resolved fairly for you and your family. Our legal team understand how to protect your financial position during a separation. Let us put this experience to work for you.