Although California is a community property state, and divorcing spouses are each entitled to half of the marital property, in reality it can be challenging to divide assets built up over the course of a marriage in half. In circumstances of a high net worth divorce, the assets can be especially complicated to divide. A high asset divorce can involve a number of valuable assets that must be disclosed, valued and divided so it helps for divorcing couples to understand the process.
In addition, because California is a community property state and marital property is divided in half, it is important to understand how to properly categorize property and to also understand how property is categorized as separate property which is not subject to division. High asset divorces can include a number of complex assets that must be divided such as joint bank accounts; stocks and stock options; pensions and retirement accounts; insurance policies; commercial and residential real estate investments; high-value art and other home furnishings; intellectual property; and other assets as well.