When people of a high net worth decide that it's time to end their marriage, they generally have more work to do than many others when it comes to organizing their assets and completing the process of dividing them in accordance with California's community property laws.  This is especially true if no proactive steps have been taken by the spouses to label certain assets in certain ways that arguments over them can be avoided.  Most often, this lack of proactive steps involves a business ownership interest.

When one of the spouses either owns a business outright or has an ownership interest in an ongoing concern, that ownership interest can in many cases be seen as a marital asset that must be divided in an equitable manner.  This can lead to impractical results that in some situations can all but force the sale of the business so that the non-business owner spouse can walk away from the divorce with his or her fair share of the marital estate.  Courts generally look to avoid this step because of the harm it can do to those parties such as partners and employees who had nothing to do with the marriage at issue.

Fortunately, there are strategies that can be employed that eliminate these difficult situations.  One of those specific steps involves the execution of a postnuptial agreement between the spouses.  This agreement is much like a prenuptial agreement except that it's completed after the couple is married.  These agreements can specifically state how a business ownership stake should be handled in the event of a divorce.

San Diego High Asset Divorce Lawyers

While no one wants to contemplate the end of a marriage before any troubling signs appear, it behooves anyone who is in a position of high net worth to take steps to protect those assets so that even if a divorce occurs, both parties can walk away with a fair share of what they have worked for instead of exhausting it on litigation.

If you would like to make sure that your situation is properly organized, seek the help of San Diego high asset divorce lawyers who have helped many couples protect themselves from unwanted financial surprises.  Contact the law office of James D. Scott today to schedule an initial consultation.