Five Common Issues In San Jose High Asset Divorces
The breakup of a marriage is never easy, nor is negotiating all the details surrounding a divorce. When a couple has significant amounts of property and assets, divorce proceedings in San Jose become even more difficult and complex.
A high-asset divorce may involve business owners or investors, celebrities, athletes, people with trust funds or other inheritances, and anyone with significant amounts of money, homes, cars, and other high-value belongings. Our San Jose high-asset divorce lawyer provides the trusted legal guidance needed to protect your rights and explains five common issues you may encounter.
Issues You May Encounter When Getting A High-Asset Divorce In San Jose
Money is a common source of friction between married couples. Ensuing fights and arguments over how it is earned, managed, or spent are among the leading causes of divorce in San Jose.
In a high-asset divorce, the same rules and procedures apply under the California Family Code, but the situation itself is more complex. The following are five common issues you are likely to encounter:
- Rights To Marital Property And Assets
California is a community property state. This means you have an equal share in any property and assets earned or acquired by your spouse over the course of your marriage. Identifying all holdings in a high-asset divorce is often difficult because it may include shell companies, shares in businesses, offshore accounts, and international laws.
- Division of Marital Property
While you are entitled to a 50 percent share of all marital property and assets, there are other factors the judge may consider in either increasing or reducing this amount. This includes each party’s individual income and contributions to the marriage.
- Valuations
In order to get your fair share of marital property when filing for a divorce through the Santa Clara County Family Court, you need accurate appraisals. When dealing with homes, cars, collectibles, businesses, investments, and other assets, consider the original price paid, what the property is worth now, what it would cost to replace, and projected future value.
- Tax Implications
Capital gains or losses in a high-asset divorce, selling or transferring ownership of property, and receiving retirement benefits or other settlements could have major state and federal tax implications. To avoid tax debts, discuss all options with an experienced San Jose high-asset divorce lawyer first.
- Privacy Concerns
High-asset divorces in San Jose tend to generate a lot of publicity. Battling it out in court or in the press only makes the problem worse. Pick a legal representative dedicated to protecting your privacy while fighting to get you the best possible divorce settlement in San Jose.
For Trusted Legal Guidance, Contact Our San Jose Divorce Lawyer
High-asset divorces are among the most complex cases and require having an experienced legal professional on your side throughout the process. To get the trusted legal guidance you need to protect your rights, contact Argyris Mah, LLP. Request a consultation with our San Jose high-asset divorce lawyer today.
Sources:
leginfo.legislature.ca.gov/faces/codesTOCSelected.xhtml?tocCode=FAM&tocTitle=+Family+Code+-+FAM
santaclara.courts.ca.gov/divisions/family-division
ftb.ca.gov/file/personal/income-types/alimony.html#:~:text=In%20California%3A,income%20on%20your%20California%20return.
