Divorce is never a simple choice, and the process can be demanding. There are a few things you should be aware of to assist you in getting ready for the divorce process if you’re considering getting a divorce in California. In this article, we review the fundamentals of divorce processes in California, along with some advice on making the process go as smoothly as possible.

Preparing for Divorce in California

It’s crucial to weigh your alternatives before requesting a divorce in California. If you and your spouse have problems, consider counseling or mediation. Additionally, you should consult a divorce lawyer to learn how to proceed if you’re considering divorce because of an extramarital affair. 

Child custody is an essential factor to consider when preparing for divorce. Consider your children’s interests when developing a parenting plan since California courts prioritize the child’s best interests. You should see a lawyer if you’re considering being a surrogate, adopting a child, or planning to become a parent to learn how this can affect child custody decisions.

Signs Your Spouse May Be Hiding Assets During a High-Net-Worth Divorce

In high-net-worth divorce cases, one party may attempt to hide marital assets to gain an unfair advantage during property division. Identifying these warning signs can help you protect your financial interests:

  • Unexplained Financial Behavior: Sudden transfers of significant wealth or opening of unknown accounts may indicate attempts to conceal assets.
  • Underreported Income or Business Value: A spouse involved in a business may manipulate records to undervalue their income or the business’s worth.
  • Unusual Purchases or Loans: Large purchases or debts may be used to hide marital property in the form of assets like art, jewelry, or offshore accounts.
  • Hidden Retirement Accounts or Investments: High-asset divorces often involve complex financial holdings, making undisclosed stock options or retirement accounts a common area for scrutiny.

If you suspect hidden assets, consulting with forensic accountants and experienced family law attorneys is crucial for uncovering discrepancies and safeguarding your rightful share.

Filing for Divorce in California

One spouse must have resided in California for at least six months before filing for divorce to do so. In addition, the spouse seeking a divorce must have spent at least three months residing in the county. In California, divorce filing costs can be high, but if you can show that you cannot afford them, you may be able to avoid them.

Serving Your Spouse in California Divorce

You must serve your spouse with the divorce papers after filing for divorce. You can accomplish this either in person or by mail. You can ask the court for permission to serve your spouse through publication if you cannot personally benefit them.

Strategies for Uncovering Hidden Assets During Divorce Litigation

Uncovering hidden assets requires a strategic approach, especially in high-asset divorce cases that often involve significant financial complexity. Here are effective strategies to consider:

  • Enlist a Forensic Accountant: These experts are skilled in tracing financial irregularities, uncovering concealed accounts, and valuing complex assets.
  • Utilize Subpoenas: Your legal counsel can issue subpoenas to access bank records, tax filings, and business transactions that may reveal undisclosed holdings.
  • Examine Lifestyle Discrepancies: Compare reported income to your spouse’s spending habits. Excessive spending or sudden frugality can signal hidden wealth.
  • Leverage Financial Experts: Financial experts can provide detailed insights into business interests, stock options, and other assets often overlooked during standard disclosure.

By combining legal expertise with financial analysis, you can ensure all marital assets are accounted for during the division process.

Legal Consequences of Attempting to Hide Assets in California Divorce Cases

California law takes financial disclosure seriously, and attempting to hide assets during divorce proceedings can lead to severe consequences, including:

  • Loss of Assets: Courts may award a larger portion of the marital estate to the innocent party if one spouse is caught hiding assets.
  • Legal Sanctions: Failing to disclose financial information can result in monetary fines, contempt of court, or even criminal charges.
  • Delayed Proceedings: Discovering hidden assets prolongs litigation, increasing legal costs and emotional strain for both parties.

California follows the principle of equitable distribution, ensuring marital property is divided fairly. Attempting to hide assets not only jeopardizes the dishonest party’s case but also undermines the potential for an amicable resolution. Transparency is key to avoiding these penalties.

The Role of a Divorce Attorney in Protecting Your Financial Rights

Navigating the complexities of a high-asset divorce requires the guidance of an experienced divorce attorney. Here’s how they help safeguard your financial interests:

  • Comprehensive Financial Analysis: A skilled attorney works with financial experts to evaluate business interests, significant assets, and retirement accounts.
  • Strategic Litigation: In cases involving hidden assets or contentious disputes, your lawyer ensures compliance with legal disclosure requirements and advocates for equitable distribution.
  • Tailored Advice: From understanding tax consequences to valuing marital property, divorce attorneys provide personalized counsel to align with your unique financial goals.
  • Securing Spousal and Child Support: Attorneys help calculate fair spousal and child support amounts, ensuring that support agreements reflect the financial realities of high-net-worth individuals.

Hiring an attorney who has experience handling these types of cases is essential to protect your substantial wealth and ensure a fair division of assets.

Hiring A Divorce Lawyer in California

Because navigating the divorce process can be challenging, you must consider hiring a divorce lawyer. Divorce attorneys can offer legal advice and assist you in comprehending your rights and obligations throughout the divorce process. They can also guide you through complex custody and property partition decisions.

We at Westover Law Group recognize that divorce can be challenging. To help you get the best result possible, we provide each client with individual attention and deliver fearless representation. 

We offer a variety of services, such as going over all the details and establishing realistic expectations, getting to know you and your situation, explaining all the advantages and disadvantages of any decisions, figuring out what evidence is available and what evidence is required, identifying problem areas, and working to find solutions. We recommend setting up a free consultation with our board-certified family lawyers to discuss your high-net-worth divorce today.