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Top Rated High-Net-Worth Divorce Attorney in Beverly Hills, CA
Divorce is one of the most challenging events that you can go through in life. Separation comes with a variety of emotional, financial, and legal concerns that are only heightened when you and your spouse share high-value assets. A Beverly Hills high-net-worth divorce lawyer can help you with every step of the process, from initial filing to final negotiations.
About Us
Our team at Benefield Faulk Law is dedicated to advocating for the people of Beverly Hills in their divorce cases. As an experienced Beverly Hills Divorce Lawyer, our founding attorney, Tamara Shari Benefield, has spent decades litigating and negotiating family law matters in Southern California. Her legal accomplishments earned her various accolades, including the National Bar Association naming her one of the “Top 40 Attorneys Under 40” in 2017.
Overview of High-Net-Worth Divorce in Beverly Hills, California
Divorce is one of the most common family law cases nationwide, with seven out of 1,000 women reporting getting divorced in 2022. California ranked below average, at 5.88 per 1,000 women, but that lower rate still results in thousands of divorces here in Los Angeles County.
Separations in California are considered high-net-worth when the monetary value of shared assets is worth more than $1 million. High-net-worth divorce is not a legal designation, but rather is a term used when the property value is valued large enough to have additional complexities and concerns. Divorce cases in Beverly Hills are likely to be considered high-value since the median income of married couples is $228,125.
Hire A High-Net-Worth Divorce Lawyer — Benefield Faulk Law
High-value divorces can be an especially difficult type of separation to go through on your own. If you are currently facing a divorce with a large estate, it is recommended that you hire a high-net-worth divorce lawyer who can guide you through the process. Your Beverly Hills high-net-worth divorce attorney can advocate for your interests throughout the proceedings.
The following are a few common problem areas in high-value separations where your lawyer from Benefield Faulk Law can make a positive difference:
Property Division
California has equal property division laws, meaning that shared property must be split equally between spouses in divorce. Most belongings acquired during a marriage are likely to be considered shared property. Separate property, which is left out of any division deliberations, is defined as assets that a person had before the marriage, was a gift to them, or was acquired through inheritance.
High-net-worth divorce property division can be tricky due to the interweaving layers of ownership and potential for malicious action. Spouses can hide assets, undervalue them, or blur the lines between what is separate and shared property.
Our team at Benefield Faulk Law can find evidence of any wrongdoing and expose the truth. We can partner with forensic accountants and use our years of legal experience to get the property division agreement you deserve.
Divorce Litigation
The chance of a contested divorce or litigation tends to rise when there is more at stake. The increased likelihood of litigation means you deserve someone to represent you in the Stanley Mosk Courthouse, 110 North Grand Avenue, and 111 North Hill Street in downtown Los Angeles. We can be at your side, advocating for your needs both in and outside the courtroom.
Spousal Support
Spousal support, otherwise known as alimony, is a frequent element in high-net-worth divorce. The likelihood that one spouse makes significantly more than the other and can afford to pay spousal support results in payments to ensure the same quality of life for the lower-earning party. Whether you need financial support or are worried about providing large payments, we can negotiate a final agreement that matches your financial interests.
Tax Concerns
Taxes, fees, and other expenses can apply while assets are moved around during high-net-worth divorce cases. We can help you avoid any unnecessary charges and find deductions that can save you money now and later.
FAQs
What Is Considered a High-Net-Worth Divorce in California?
In California, a divorce is likely to be considered to have a high net worth if the value of shared property is worth more than $1 million. High net worth or high value divorce is not an official term, so the definition can change depending on the source. The term is used to signal when the value of assets reaches a point that additional care is required.
How Much Does a High-Net-Worth Divorce Lawyer Cost in California?
How much your high-net-worth divorce lawyer costs depends on the details of your case, such as the value of shared assets, whether litigation is required, and the total work hours your case needs. A case where spouses agree on all important details tends to cost less than a hotly contested divorce with months of litigation. Your high-net-worth divorce attorney can provide an estimation based on your case for how much the total expense may be.
What Assets Are Excluded From High-Value Divorce Proceedings in California?
Assets in California that are left out of high-net-worth divorce proceedings are all belongings deemed separate property. Separate property is anything you owned before marriage, gifts, or inheritance. Distinctions can grow hazy when your assets are comingled during marriage. Your high-net-worth divorce attorney can investigate the ownership and prove what you deserve to keep.
Can You Keep Your Home in a California High-Net-Worth Divorce?
Whether you can keep your home in your high-net-worth divorce case depends on the agreements you make with your spouse. State law requires that assets be split equally in value, meaning if one spouse wishes to keep the home, they can buy the other’s share of the property based on an evaluation. Some spouses choose to co-own the home after divorce and rent it out, or sell it and split the earnings.
Meet With an Honest High-Net-Worth Divorce Lawyer Today
Our team at Benefield Faulk Law has years of knowledge and experience, which have prepared us to assist you with your high-net-worth divorce case.
Contact us today for an initial consultation, where we can discuss your case and begin providing potential pathways forward through your high-net-worth divorce. You may also visit our Beverly Hills office — located on the corner of Wilshire Boulevard and Beverly Drive in the heart of the city.
