What are executive divorces? They are divorces where one or both spouses are professionals, whether that is a CEO, CFO or other significant position with a company.
Executive divorces can range from self-employed presidents of companies that have significant gross receivables (corporate or partnership income) to executive employees, officers, directors or shareholders of large companies such as financial institutions, public traded companies or larger private ones.
We write this article from the perspective of representing the executive in the divorce. In a future article, we will write from the perspective of the non-executive (and supported) spouse.
Divorce proceedings involving highly compensated business executives or professionals require the attention of an experienced executive divorce lawyer who understands the unique issues and special concerns central to high income and asset cases.
Very often the outcome of an executive or high net worth divorce will be influenced by the presence of a prenuptial agreement that the spouses signed prior to entering upon the marriage. Many individuals who possess considerable wealth, own businesses, or are otherwise concerned about protecting themselves against the claims of spousal support and property division that this precaution. William D. Evans APLC, will help you depending on which side of the issue you are on. We may seek to invalidate the terms of the agreement by demonstrating that it is not legally enforceable or we might have to defend your prenuptial/postnuptial agreement against the claims of your spouse.
A high asset marital property division can get complex when one or both spouses have a complex property portfolio, especially when one is an executive. You need a quality divorce attorney to divide the property. In any divorce the couple will have accumulated property. When the courts look at a high asset divorce usually a lot or real estate, investments and other business interests are involved. Examples of high assets are:
- Pensions that cannot be divided until retirement
- Stock options
- Vehicles, boats
- Real estate
- Securities Portfolios
- Business partnerships or professional practices
Hidden assets may appear in a high net worth or executive divorce. These assets may include:
- Cash and traveler’s checks
- Stocks and bonds
- Mutual funds
- Insurance policies
- Faulty Tax Returns
- Property such as jewelry or vehicles
There are lawyers and law firms who may claim to have your best interests as a priority, but ultimately have your billing as their focus. Beware of any lawyer that tells you that court litigation is the only option, or litigation is best to “defeat” your spouse during the divorce process. California family law protects the lesser earning spouse. If your wife has a good attorney, unnecessary litigation tactics will backfire, including significant attorney fee orders against you.
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Divorce cases are very difficult and complex. You need an experienced Los Angeles Family Attorney to guide you through the legal process. Contact our law firm today at 562-439-9001 if you or someone you know needs the help of an experienced family law attorney. We will be here for you when you call. Schedule a free consultation!
We are very central to all of Long Beach, Seal Beach, Lakewood, Palos Verdes, San Pedro, Newport Beach; and regularly serve all of Los Angeles.
This is intended as general advice and should not be interpreted as legal advice. Each situation is unique and requires specific analysis of relevant contracts, facts and legal obligations.