Protect Your Assets and Net Worth During Divorce
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Advice on your New Future From a High Asset Divorce Attorney
Protecting your assets during a divorce can be a challenge. But starting with a strategic asset protection plan can help high-income earners facing divorce in California be better prepared. From advice on how to get started to information on working with skilled family law attorneys, our extensive guide will help make the process smoother from start to finish. In this guide, you'll learn:
- How to protect your assets.
- Which high-value financial factors to consider.
- How to financially prepare for divorce.
- How to deal with a business, investments, inheritances, intellectual property, premarital agreements & more.
What's Inside The High Asset Divorce Guide?
Getting Started
From organizing documents to finding an attorney, we’ll walk you through the best practices for initiating your divorce so that you can proceed with confidence.
Disclosing Your Assets
While dividing assets may seem simple, the reality is that it’s incredibly complex. Disclosing a comprehensive list helps keep you protected from the start.
Protecting Your Assets
Learn how a skilled attorney can advocate on your behalf to ensure inheritances, retirement accounts, intellectual property, vacation homes, and other assets are justly divided.
Costly Financial Factors
Explore long-term support obligations and tax implications of property division.
Your New Future
Once your divorce is finalized, updating your trust and estate planning documents is a crucial step to ensure your financial future.
Working With Professionals
Expert attorneys like Cage & Miles are experienced in working with high-net-worth individuals and their team of financial advisors to help you determine the best course of action.
Experienced High-Asset Divorce Experts
At Cage & Miles, we’re seasoned experts in helping high-earners navigate divorce, whether that involves a straightforward amicable mediation or more complex family law litigation.
Through our experience working with professional athletes, executives, and entertainers, we understand the discretion and protection required in high-asset divorces. With our in-depth knowledge of the law and understanding of the intricacies of high-net-worth estates, our team will partner with trusted financial experts to equitably divide your marital assets.
High-Net Worth FAQs:
Q: What should I do first for my high asset divorce?
A: Once you’ve decided on divorce, gather all important documents for your disclosures such as personal and business tax returns for the last two years, documentation regarding your income from all sources, documentation of any separate property, patents, sports/entertainment contracts, retirement documents, all documents regarding real property - especially deeds signed during the marriage, and estate planning documents. When you begin consulting with family law attorneys, they will likely have many questions about your income, expenses, assets, and debts. Having reviewed this documentation and having it organized will help you answer many of the important questions addressed during consultations.
Q: How can I best protect my assets?
A: One of the most important ways you can protect separate property assets is by maintaining thorough documentation regarding the date of acquisition of these assets, tracing their use during marriage, and maintaining them separately from community assets. Many banks and other institutions do not maintain records older than seven years. If your marriage was longer than seven years, you will need to produce this documentation. Maintain digital copies that cannot be lost, stolen, or destroyed. This will make the disclosure phase much simpler and any court proceedings more streamlined.
Q: What are the long-term legal obligations of my high asset divorce?
A: Higher-earning spouses should prepare for ongoing obligations, including child support, spousal support, property buy-outs, and tax implications of property sale/division. A skilled family law attorney can help you have a clearer understanding of what your financial future might look like post-divorce.
Q: How do I choose the right attorney for my high asset divorce?
A: It’s not uncommon for high-net-worth individuals initiating divorces to face prolonged litigation and drawn-out proceedings. Choosing an attorney that aligns with your individual approach and goals can reduce the stress and anxiety of the divorce process. If your case requires extensive litigation, an attorney with a full mediation practice might not be the right fit. If you would like to settle the case quickly and amicably, a “scorched earth” attorney might be resistant to the mediation process or unskilled in settlement negotiations. Certain family law attorneys are skilled at taking a hybrid approach. Keep these important questions in mind when interviewing attorneys to represent you in your divorce.
Cage & Miles: The Experts You Need
Cage & Miles is an experienced and competitive family law firm that advocates for you, every step of the way. We’ve made it our mission to help you find clarity and peace of mind, making it easier for you to focus forward. With a proven track record of helping high-net-worth individuals navigate the intricacies of divorce, we’re uniquely positioned to provide you with reliable and trustworthy legal advice, ensuring your assets are protected at every stage. At Cage & Miles, we also handle every case with integrity, honesty, and privacy, so you can rest assured that your future is secure.