Getting The Answers You Need For Your High-Asset Divorce
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 the property of the spouse that added them. However, the assets added and accrued during the length of the marriage are typically 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, consult with a forensic consultant about what they can do to help you find that money.
Contact Us Today
The first step in preparing for your high-asset divorce should start with calling us. Call our California 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.