Orange County
Divorce for Executives

Divorce can be a complicated and emotionally charged process for anyone facing the end of a marriage. But for executives, the stakes are often even higher. Not only are there potential financial implications to consider, but there is also the impact on each person’s career. This is especially true when both spouses own a business. Between the asset division process and the need to protect one’s interests in the business, these turn of events can quickly become complicated and result in conflict on many levels in any executive divorce.

That’s why it is crucial to consult with an experienced Orange County divorce lawyer who understands an executive’s unique challenges during this process. At the Law Offices of Lisa R. McCall, we have represented many executives going through a divorce. We help any executive seeking divorce protect their interests while minimizing the impact on their careers. We never treat our clients like just another case, and we continuously work to provide the individualized attention and legal guidance our clients need and deserve. If you are worried about the potential impact of your divorce on your business or career, contact our family law firm today for a consultation.

What Are the Potential Financial Implications of Divorce for Executives?

The financial management and implications of divorce can be significant for any couple, but they can be incredibly complex for business owners and executives. This is because many executives have a high net worth, which can complicate asset division. In some family law cases, one spouse may be seeking a greater share of the assets than what is fair, which can result in conflict and even litigation.

It is important to note that in California, all assets and debts acquired during the marriage are defined as community property, regardless of which spouse earned or acquired them. This means all property and debt acquired during the marriage are subject to division in the event of a divorce. This can include everything from homes and vehicles to investments and retirement accounts.

When it comes to dividing assets, the court typically takes a fair and equitable approach. This means assets are divided in a way that is fair to both parties, taking into account each spouse’s financial needs and ability to support themselves after the divorce. However, in some cases, the court may award a greater share of the assets to one spouse if extenuating circumstances exist. For instance, if one spouse was the primary breadwinner during the marriage, they may be awarded a greater share of the assets.

What to Consider When Going Through a Divorce as an Executive

Executives should be aware of a few key issues when going through a divorce:

• Impact on your business. Your business is likely going to be impacted in some way. Especially if you own a business with your spouse, the divorce can significantly impact the business itself. Sometimes, the company may even need to be sold to divide the assets fairly. It’s essential to consult with a lawyer to understand the best way to protect your interests if your business is affected by the divorce.
• Career impact. A divorce can be a major life event, and it can take a toll on your career. If you are in the middle of a major project or deal, for example, divorce can be a major distraction. You want to try to minimize the impact on your work as much as possible, and you may need to take some time off to focus on the divorce.
• Impact on your family. You are going to need to think about the impact the divorce is going to have on your family, especially if you have children. It’s important to try to make the divorce as amicable as you can and to make sure your children understand what is happening. At the end of the day, the divorce is between you and your spouse, and your children should not be used as bargaining chips.

What Is the Fastest You Can Get a Divorce in California?

The divorce process in California can take anywhere from six months to a year or more, depending on the complexity of the case. However, it’s important to note that the divorce process can be expedited in some cases. If both parties agree on the terms of the divorce, it’s possible to get a divorce in as little as six months. California does have a mandatory six-month waiting period before a divorce can be finalized, though, so you won’t be able to settle your divorce before that period is over.

If there are contested issues, such as child custody or asset division, the process can take longer. Consult with an Orange County family law firm to understand the specific timeline for your case.

Who Should File for Divorce First in California?

There is no definitive answer to this question, as there are benefits and drawbacks to filing for divorce first. Sometimes, it may be beneficial for the spouse who is seeking a greater share of the assets to file first. The court may consider the fact that this spouse has already filed for divorce when dividing the assets.

If the spouse who files first is the primary breadwinner, they may be able to claim a greater share of the assets. Ultimately, it’s important to consult with a lawyer to understand the best strategy for your particular case.

What Are Common Disputes in a California Divorce?

There are a few common disputes that arise in California divorces. These include:

• Asset division. One of the most common disputes in a divorce is how to divide the assets. From houses and cars to savings and investments, couples need to decide how to divide the assets fairly.
• Child custody. If the couple has children, they need to decide who is going to have custody of the children. Factors such as work schedules and living arrangements must be considered.
• Alimony. In some cases, one spouse may be required to pay alimony (spousal support) to the other. This is typically the case when one spouse earns a significantly higher income than the other.
• Debt. Couples will also need to decide who will be responsible for paying any outstanding debt. This can be a contentious issue, as both parties may want the other to take on the debt.

What Options Exist to Resolve Disputes in a California Divorce?

If the couple is unable to resolve their disputes, they may need to go to court. However, there are a few alternative dispute resolution options that can be used to come to an agreement without going to court:

• Mediation. A mediated divorce is where the couple uses a mediator to help them resolve their disputes. The mediator serves as a neutral third party who helps the couple reach an agreement on the terms of the divorce. People who find this option appealing typically want to avoid going to court and still have a solid relationship with their spouse.
• Arbitration. An arbitrated divorce is one in which the couple uses an arbitrator to resolve their disputes. The arbitrator, similar to a mediator, is a neutral third party who hears both sides of the case and makes a decision on the disputed issues. The difference between mediation and arbitration is that the arbitrator’s decision is binding, whereas the mediator’s decision is not.
• Collaborative divorce. Collaborative divorce. A collaborative divorce is one in which the couple uses a team of professionals to help them resolve their disputes. The team typically includes a lawyer, a financial planner, and a therapist. In these scenarios, each spouse has their own lawyer, and the team works together to resolve the disputes.

What Is the Cost of Getting a Divorce in California?

The cost of getting a divorce in California can vary depending on several factors, including the complexity of the case, the number of assets to be divided, and the number of children involved. In general, the cost of a divorce can vary from a few thousand dollars to tens of thousands of dollars. Since this is such a big range, the only way to get an accurate estimate is to speak with a lawyer.

Tips for Executives Getting a Divorce

Here are a few tips that executives should keep in mind if they are getting a divorce:

• Be prepared for the process. The divorce process can be lengthy and complex. You want to be prepared for the process, both emotionally and financially.
• Be prepared to negotiate. In a divorce, everything is negotiable. Executives should be prepared to negotiate on issues and realize that they may not get everything they want.
• Be prepared for the future. After the divorce, things will be different. Executives should be prepared for this change and its implications on their lifestyle and finances.

Contact the Law Offices of Lisa R. McCall for Executive Divorces Today

If you are looking for an Orange County divorce for executives lawyer, contact the Law Offices of Lisa R. McCall today. We have already helped many executives through the divorce process and can help you too. Contact us today, and let’s work together toward a positive outcome for your divorce.