Divorce & asset division

HIGH NET WORTH/CELEBRITY DIVORCE

Any high net worth, celebrity, or professional athlete divorce is a complicated proceeding that should only be handled by an experienced attorney. From accurately accounting for assets to determining the effect of any pre- or post-marital agreements and assessing child and/or spousal support, the issues involved in these types of divorces tend to be complex. At Shulman Family Law Group, we understand the need for discretion and use our years of experience to protect both your privacy and your legal rights. Our caring, knowledgeable, professional attorneys will evaluate your case and guide you through the legal maze.

California Residency

Many people want to file their divorce in California because of the no-fault and community property statutes. However, you will need to provide documentation that you have lived in California for at least six months and in the specific county in which you file for at least three months prior to the filing.

California Divorce Law Statutes
  • All property and assets acquired during the marriage are presumed to be community property, unless a spouse can show that the property was acquired through gift or inheritance. (CA Family Code §2581) The existence of a prenuptial or postnuptial agreement can also impact this determination.

  • Spouses who had premarital debts are responsible for those debts. (CA Family Code §2621)

  • If one spouse has remained at home to care for children, the court will take that fact into consideration and may award spousal support in a higher amount or a longer term. (CA Family Code §4320)

  • Under California law, judges have the option of superseding, i.e., increasing, the regular guideline in the calculation of child support in a high net worth divorce. (CA Family Code §3902)

California Divorce Costs

The cost of a California divorce is determined by the complexity of the of the case. High net worth, celebrity, and professional athlete divorces are likely to be more expensive because there are more assets to divide, as well as child support and spousal support to be determined, if applicable. Our attorneys can provide you with the information you need so that you know what to expect.

Accounting of Assets

High net worth individuals, celebrities, and professional athletes are likely to have multiple assets and sources of income, ranging from businesses, stocks, and investments to sponsorships, endorsements, and residuals. Putting together an accurate record of the assets involved is critical, the experienced attorneys at Shulman Family Law Group can help with this accounting process. We are familiar with the types of assets associated with each of these specific types of clients and can assist you in making sure nothing is overlooked.

Prenuptial Agreements

It’s not unusual for professional athletes, celebrities, and high net worth individuals to use prenuptial agreements to protect their assets in the event of possible divorce. However, premarital agreements are not always as iron-clad as they are made out to be. According to the CA Family Code §§1612-1615, if you have signed a premarital agreement you can legally contest that agreement if the following facts are present:

  • You were coerced into signing the agreement.

  • You did not have a full knowledge and understanding of your spouse’s property or finances.

  • There was no waiver included in the agreement that you were legally giving your spouse the right not to disclose their financial situation or property.

Our attorneys can help determine if there are grounds to contest your prenuptial agreement.

Child Support

In the case of a marriage with a prenuptial agreement, child support is often the biggest expense of divorce. Under CA Family Code §§3900-3902, all parents are required to support their children until the age of 18. With the children of high net worth individuals, celebrities, and professional athletes, the costs of supporting them is considerably higher. Our experienced attorneys understand this and can help you put together a child support settlement using the following factors:

  • The child’s lifestyle (vacations, homes for the child, parties, etc.)

  • Security for the child (bodyguards)

  • Pets for the child

  • Education (private boarding school costs, college, tutors, etc.)

  • Extracurricular activities (riding lessons, sports, travel, art lessons, etc.)

  • Clothing allowance

  • Transportation

  • Entertainment (toys, video games, etc.)

Even after your divorce, you are legally responsible to pay for the same lifestyle that your child/children enjoyed before the split. We will assist you with determining an appropriate amount to pay for your child’s future expenses and care.

Child Custody

High net worth individuals, celebrities, and professional athletes often travel a great deal and may have residences in other parts of the country or abroad. This lifestyle complicates child custody arrangements, but our attorneys understand these matters and can help you put together a custody agreement that is fair to both spouses and to the child/children involved.

At Shulman Family Law Group, we treat each of our clients with care and professionalism. Please call us today at 800-230-1770and we will schedule a phone consultation or an in-person meeting with one of our knowledgeable attorneys.

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