If you have sacrificed your career to stay home and raise a family, the idea of getting a divorce can be incredibly overwhelming. You may feel uncertainty regarding your financial future, especially if your spouse is a high net worth individual. It’s important to understand, however, that stay-at-home parents have rights during a divorce. If this reflects your circumstances, you’ll want to keep reading to learn how our dedicated Los Angeles high net worth divorce attorneys can help protect your rights during these tumultuous times.
If I Stay Home With the Children, What Rights Do I Have?
One of the most common misconceptions about high net worth divorces involving stay-at-home parents is that the spouse who did not financially contribute is not entitled to assets. This is far from the truth. In reality, California is a community property state, meaning each partner, regardless of their financial contribution to the marriage, is entitled to an even 50/50 split of assets.
It’s important to understand that despite feeling pressure from your spouse, you are under no legal obligation to leave the family home. This is true even if your name is not on the deed to your home, as your spouse can only have you removed from the premises with a court order.
What Complications Can Arise for Stay-at-Home Parents During High Net Worth Divorces?
Because of this law regarding property distribution, it’s not uncommon for spouses to try to hide assets. This means you’ll receive less than you are legally entitled to during the divorce. As such, it’s important to understand that it’s in your best interest to work with an experienced attorney who can help examine the financial documents exchanged during the discovery process to ensure that your spouse isn’t attempting to hide assets to receive a more favorable outcome during your divorce.
Additionally, you may find that if you do not have a job or have not worked in a while, the future can seem uncertain. As such, it’s necessary to begin preparations for how you will financially support yourself following the divorce. Though you will likely receive alimony and assets that can help aid you in this new chapter, becoming financially independent is critical.
How Can an Attorney Help Me During These Times?
If you are going through a high net worth divorce, understanding the importance of connecting with an experienced attorney during these times is critical. As a stay-at-home parent, ensuring your spouse doesn’t take advantage of you is critical.
At the Zitser Family Law Group, we understand how complex these matters can be, which is why we are committed to fighting for you. If this reflects your circumstances, connect with us to discuss these matters in further detail.
