Are you concerned about protecting substantial assets in a Carlsbad divorce? Do you own rental or investment real estate? Do you have substantial savings, investment and or retirement accounts? Are you or your former spouse the owners of a business or a partner in a professional practice? What steps should you take to prepare for divorce and to protect your interests?
If the financial aspects of your life are extensive a divorce will require skilled and experienced counsel and strategic insight. Just as investments require specific knowledge, oversight and planning you will need guidance to protect all that you’ve worked so hard to build. What do you need to know as you prepare for a divorce?
The divorce process itself requires you to continue to act as a fiduciary in these matters. You legally owe your former spouse a continuing duty to act fairly, and with their best interests in mind. This is a time for full, accurate and timely disclosure. Any attempt to hide or secret financial or other assets will result in harsh consequences in a Carlsbad Family Law Court.
Start by organizing all documents associated with each asset or financial account. You will be required to submit comprehensive information to the court regarding all assets and accounts as part of the divorce disclosures.
The Court will give consideration to the lifestyle you have established with your former spouse. Be prepared to account for every expense and understand the Judge in this matter will consider and generally attempt to maintain that lifestyle during the course of property division and spousal support proceedings. The strategy of protecting substantial assets in a Carlsbad divorce is based upon preservation of assets which are the most important to you while offsetting those you wish to keep with property or holdings which have less value or interest to you personally.
One of the most challenging aspects in these cases is the valuation of specific assets such as a business interest or a collection of art or jewelry. The Court and all parties in the divorce must have a clear understanding of the genuine value of each and every asset before community property issues can be resolved. The process of valuation can be quite contentious as the interests of each side invariably seem to affect the valuations provided by their experts.
Protecting substantial assets in a Carlsbad divorce requires a detailed strategy. You will need skilled, experienced representation and counsel. The attorneys at Burke & Domercq are Certified Specialists in Family Law who have represented clients with substantial interests before Carlsbad Courts for decades. We invite you to review the strong recommendations of our clients and the legal industry and contact us or call 760-434-3330 to schedule an appointment.