As if a divorce is not complicated enough, the complexities are often made worse when there’s a substantial amount of assets to divide. Usually, if one or both spouses have acquired assets worth at least $1 million, it’s considered a high net worth divorce. The division of assets varies depending on the state. In California, for instance, all assets acquired over the course of the marriage are considered community property and should be divided equally between the spouses.
However, things are not as straightforward as it sounds. Things can change in the event of prenups and other written agreements that state otherwise. A company that was formed by one spouse before the marriage may also be considered community property if marital funds were used to sustain its operations. Other assets such as stocks, artwork, jewelry, and retirement funds may also be more complicated to divide. If you have these, you might want to hire an expert high net worth divorce attorney. For more info, visit NapaDivorce.com.