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your needs, and focused on reducing the emotional
and financial toll to your family.

High Asset Divorce Archives

The financial side of preparing for divorce

California couples who are ending their marriage can organize their finances in a way that might make the process less difficult. While they may get advice from friends and family, it is important to remember that legal and financial professionals might be able to offer more reliable counsel, and people should not hesitate to consult and hire these professionals if necessary.

Aisha Tyler and Jeff Tietjens finalize their divorce

The community property laws in California provide family law judges in the state with few options, and divorcing couples who would rather decide for themselves how their property will be divided may enter into amicable agreements to avoid protracted court disputes. Celebrity gossip is now an accepted part of the daily news cycle, and famous divorcing couples may be especially motivated to end their marriages quietly and avoid the public glare of a civil trial.

The importance of getting advice on QDROs in California

When a couple divorces and has to divide retirement assets, a Qualified Domestic Relations Order may be necessary. A QDRO outlines how much money will need to be provided from one spouse's retirement account to the ex, and it can also determine what those assets will go toward. For instance, assets from the account could be considered payments for alimony.

Couples in business should plan for a future asset division

All around the country, divorces trigger business partnerships to terminate. However, things can become especially complicated in community property states such as California, where laws state that divorcing couples each own half of their marital assets. While making plans for a potential future breakup may not be high on the list of a couple planning a wedding, it may make matters easier if the relationship ever does end.

Dealing with the family business during a divorce

Although it is not rare for a California couple to get a divorce, it can be a difficult process to divide up all marital property especially if one of the former spouses started a business. Ultimately, how a person protects the family business will depend whether it was started prior to the marriage or afterwards.

Financial considerations for older divorcing couples

The divorce rate in California and across the country has remained fairly stable since peaking in the late 1970s and early 1980s, but the overall rate conceals a demographic trend that has alarmed many sociologists. While the number of younger couples choosing to end their marriages is actually falling, divorces among couples aged 50 years or older has surged in recent years. A study published by the National Center for Family and Marriage Research reveals that such couples were twice as likely to end their marriages in 2014 as they were in 1990.

Social Security, divorce, and ex-spouses

Some California residents who have gone through a divorce might be unaware that they may be able to claim Social Security benefits based on the work record of their ex-spouse. They must have been married for at least 10 years. They must not be remarried, and the benefits they would receive from their spouse's work record must exceed what they would get from their own record. A person can claim up to 50 percent of the benefit their spouse would receive in these circumstances. The ex-spouse's own benefits will not be reduced.

Billion-dollar divorce settlements

Many California residents who get divorced lose money in the process. they often experience a drop in income after a split, and marital assets that are divided in a property division settlement could feel like a financial loss for one of the parties. While divorce is expensive for most people, there are only a handful of couples in the world that have reached settlements exceeding $1 billion.

Automatic temporary restraining orders in divorce

In the state of California, when one person files for divorce, a court will issue an automatic temporary restraining order on both parties. Among other things, this is intended to prevent a spouse from hiding or dissipating assets in an effort to keep them from the other spouse. For example, one spouse might make a high salary while the other spouse stays home with the children. The high-earning spouse might attempt to spend as much money as possible to prevent having to share assets with their spouse. They may be able to easily make the money back after the divorce while the other spouse may face financial devastation.

Common money issues that end marriages

Some studies show that nearly half of all first marriages will end in divorce, and subsequent marriages have an higher likelihood of failure. One of the main causes of divorce is money problems, but California couples can discuss their financial situation and attitudes toward money ahead of time. This might help reduce the chance of conflict later.

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Miller & Associates, Attorneys LLP

Miller & Associates, Attorneys LLP
6542 Lonetree Boulevard
Rocklin, CA 95765

Phone: 916-780-0848 
Fax: 916-780-0787

Miller & Associates, Attorneys LLP
850 Iron Point Road, Suite 113A
Folsom, CA 95630

Phone: 916-365-4941 
Fax: 916-780-0787

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