A high asset Orange County divorce case can range from simple to complex. Spouses that get along, co-parent and don’t have a major disagreement about things such as custody, support, the division of real and personal property, and businesses can generally resolve their divorce case quickly and at a reasonable price. Those that cannot generally get involved in bitter and lengthy court battles and could find themselves spending much of their money and assets fighting each other in Court.
How do we handle high asset divorce cases? We break down the issues.
- We first look at the children involved. If there are issues of abuse, neglect, drug or alcohol abuse or other matters between the parents that endangers the children’s health, safety, education or welfare, we ask the Court for an appointment of a forensic psychologist and/or a lawyer to be appointed for the children (called minor’s counsel), depending on the children’s ages. Getting custody issues under control and doing so quickly is a critical aspect of handling the high asset divorce case. That is because, without it, the children could be used as leverage and undergo unnecessary emotional harm during the parents’ bitter court battle.
- Step two is protecting liquid assets. It’s not uncommon in these types of divorce cases for one spouse, without the other’s consent, to liquidate bank accounts, 401(k)s or sell stocks.
- Child and spousal support orders are the next and immediate order of business and most high asset Orange County divorce cases involve a quick entrance into Family Court to set the amount of temporary child support and alimony. Sometimes, if one or both spouses are self employed and operate their own business, a forensic accountant will need to be appointed. This can be either be done by each person (whereby each spouse hires their own accountant) or the Court appoints one to the case as the Court’s expert.
- Attorney’s fees are often a hotly disputed issue. When one spouse makes most or all of the money, the other spouse will want a contribution toward his or her lawyer’s fees. How is that effectuated? Does that attorney fee award come from the higher earner’s income? Are bank accounts split? Are assets sold? The answers to these questions depend on the particular case but one thing for certain is that attorney’s fees in a high asset divorce case can increase very quickly if the spouses and the lawyers don’t come to reasonable agreements on such issues early.
Farzad Family Law are experienced at handling high asset Orange County divorce cases. Our family law attorneys have been successful at trial and at settling such cases on behalf of husbands and wives. Contact us for a strategy session and we’ll get you started on the right track.