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Answers You Need For Your High-Asset Divorce From A Carlsbad Divorce Lawyer

Whether you are in the middle of a divorce or you are considering starting the divorce process, you probably have a lot of questions. We at Burke & Domercq, APC, want to give you all the information you need to make the decisions that are right for you. To help you get the information you need, we want to answer some of your frequently asked questions here:

How long does a divorce take?

There are many factors that can contribute to the length of a divorce. If one or both spouses are not being cooperative, if lawyers need to work to find hidden assets, if spouses are not negotiating in good faith or if the divorce has to go through litigation, a divorce can take as long as one to two years. If things go smoothly in an uncontested divorce, it can take only a few months to resolve.

How can I be sure of my spouse’s income?

When trying to establish alimony or child support or accurately divide assets, you need to have accurate information. When spouses try to hide assets or income to lower the amount they have to pay in a divorce, it can take some work to find the truth. Having your attorney look through tax returns and bank statements can help establish accurate income statements. Your lawyer can also look into a forensic accounting specialist to find the truth of the matter.

How will our retirement accounts divide?

Retirement accounts can be a tricky matter to divide if you are unfamiliar with the process. If the account in question was established before the marriage, the assets that accrued before the marriage are usually the property of the spouse who owned them. However, the retirement assets accrued during the length of the marriage may be considered marital property and will need to be divided with the help of a Qualified Domestic Relations Order (QDRO). A QDRO is an order that will dictate how the account divides and instructs the policyholder to divide the account so each spouse has their own portion of the account.

How can I prepare for the divorce?

There are several preemptive steps you can take before filing for divorce. Make sure you have copies of any financial documents, including titles, mortgages, and bank and tax statements. Look into local asset appraisers so you can quickly get accurate asset valuations. If you suspect that your spouse is concealing assets from you, we can consult with a forensic consultant about what they can do to help you find that money.

How can I make sure complex marital assets are properly valued?

Valuing complex marital assets takes a great deal of skill and experience. You will likely need the assistance of professionals, like business valuation experts, real estate appraisers and art appraisers, depending upon the nature of the assets.

You can help by gathering all the relevant financial documents you can locate, including bank statements, investment records, property appraisals, business financials and governing documents, retirement account statements and any other documentation related to jointly owned assets.

If my spouse is hiding assets, can they be uncovered in a divorce?

Yes, hidden assets can be uncovered. This is not an uncommon issue. Many clues may surface during the discovery process phase of the divorce, and a forensic accountant’s services can prove invaluable. Our attorneys can help you understand the options for tracing missing funds and how best to pursue a fair division of the marital property and get what you are due.

How is child support calculated when the parents have significant assets or income?

Child support calculations are always complex in high-asset divorces. While California has a formula that establishes “guideline” child support obligations, but the court may consider deviating from this standard (up or down) depending upon things like the child’s actual needs and the quality of life or standard of living the children previously enjoyed.

How can I protect my privacy in a high-asset divorce?

Numerous strategies can be used to protect your privacy. Private negotiations between the pirates and a willingness to cooperate on both sides can keep your divorce details out of the public since only the final agreement needs to be presented to the court.

Sealing the court records is also sometimes an option, as is the use of a private judge. However, you also want to make certain that you work with discreet professionals, from the financial adviser you choose to your attorney here at Burke & Domercq, APC.

Contact A Divorce Lawyer In Carlsbad Today

The first step in preparing for your high-asset divorce should start with calling us. Call our team at our office in Carlsbad at 760-389-3927 or email us here. We can provide you with the answers you need and the representation you deserve from your legal team.