San Diego High Asset Divorce Attorney

Divorces Involving Highly Valuable Community Property

A big part of any divorce is property division, which divides the community property you share with your spouse. This particular step will be even more challenging and contentious if you own highly valuable property and assets that you would rather not part with, especially not without a fair legal process. To get your case pointed in the right direction – the one that upholds your best interests and respects your rights to your property – team up with Gill Law Group, PC and our San Diego high asset divorce lawyers today. We bring decades of collective family law experience to each case we handle, so you know that you can trust your high asset divorce with us.

Dial (619) 485-9030 or use an online contact form to request an initial case consultation.

Community Property Division in High Asset Divorce

In California, any property that you obtain or gain (or sometimes also improve) while married is considered community property that you and your spouse both own equally. During property division, community property is meant to be split 50-50, and separate property that you own alone should be exempt from the process. The 50-50 split is not based on the amount of assets and property that you keep but instead is based on the total value of all the property. 

Different types of property considered in a high asset divorce are:

• Antiques, artwork, and jewelry
• Family-owned or jointly-owned businesses
• Investment and retirement accounts
• Luxury vehicles or multiple family vehicles
• Real estate property (especially homes beyond the first)
• Stocks, bonds, and other similar financial assets

How Does Splitting High Value Assets Work?

To split high value assets in a divorce, the value of each piece of community property will need to be known, and then the total value of all pieces will be calculated. You and your spouse will each be owed property with values that equal half that total amount, except in uncommon cases with unique circumstances.

For example: You and your spouse share a high value savings account, a second home, and a collection of luxury vehicles, which are all considered community property. The second home is worth $1,000,000, the savings account is worth $700,000, and the luxury vehicles are worth $300,000. A solution to reach a 50-50 division in your high asset divorce would be to award you the second home and your spouse the savings account and the vehicles; in this situation, you would each get property worth a total of $1,000,000.

Keep in mind that the above is only a rough example. The actual division of high asset property in a divorce will be more complicated, which is why working with an attorney early in the process is important.