PASADENA HIGH NET WORTH DIVORCE LAWYER
Defined by the Securities and Exchange Commission, a “High Net-Worth Divorce” is “One in which a natural person who has individual net worth, or joint worth with the person’s spouse, that exceeds $1 million dollars at the time of purchase, excluding the value of the primary residence of such person; or a natural person with an income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year.” If you find yourself in this financial situation, having a skilled Pasadena High Net Worth Divorce Lawyer on your side to maneuver this unique set of divorce circumstances is essential.
For individuals who carry a significant net worth, protecting themselves in the case of divorce is essential in order to properly secure their assets. Statistically speaking, individuals across a wide spectrum can find themselves facing the reality of divorce, no matter their socioeconomic status, ethnicity or religion, but the more assets involved and the higher the net worth, the greater the stakes when it comes to separation of finances and property.
The Benefits of a Skilled Pasadena High Net Worth Divorce Lawyer
Regardless of a person’s net worth, all divorce proceedings should follow a similar protocol awarding equal treatment and regard for the allocation of property, finances and matters relating to children and a High Net Worth Divorce attorney is extremely beneficial for wealthy individuals with much to lose from a divorce.
In general, most divorces follow a series of events that are relatively standard in their unfolding and pertain largely to individuals of a low to medium socioeconomic bracket. This demographic of couples comprise the bulk of divorces in the United States. Many individuals, however, require the expertise of a skilled High Net Worth Divorce Attorney who can assist them through the more complicated process of their divorce based on their higher level of income and High Net-Worth. Knowledge of such specific legal situations as creating and enforcing prenuptial agreements, estates, international property holdings, various investments, high incomes and/or professional licenses is essential, and a skilled High Net Worth Divorce Attorney at the Southern California Law Offices of Ted Khalaf can provide just such assistance.
Our Commitment to You
Southern California is an area where the need for a professional High Net-Divorce attorney is becoming increasingly relevant, and choosing an attorney who is well versed in California specific law as well as the various elements pertaining to foreign investments and assets is beneficial. Avoidance of excessive legal fees from drawn out litigation for our clients is a major priority for our attorneys at Khalaf Law Group. Failure to reach a clear agreement on the specifics of property distribution and asset allocation inevitably leads to long, often painful litigation processes. The result of this legal gridlock is often a net loss for both parties, who suffer extensive financial stress as well as an irretrievable loss of their time and energy.
Mediation and Arbitration
Alternatives to litigation are often effective and include mediation and arbitration. If employed at an early enough stage in the divorce proceedings, mediation and arbitration can be useful in maintaining harmony between parties during a time that can be extremely emotionally volatile. Saving both time and money is of importance to both parties, and with proper mediation and compromise, solutions can be reached that do not involve long, drawn out and incredibly expensive litigation.