Santa Barbara High Asset Divorce Attorney

About Us

At Drury Pullen Law, we have been serving the people of Santa Barbara and beyond with seasoned legal representation, and we understand that each case is unique. Our skilled Santa Barbara high asset divorce attorneys understand that evaluating assets and ensuring their equitable division can be difficult, and they have built a reputation amongst their clientele as knowledgeable, results-driven divorce lawyers.

California and Community Property

Santa Barbara’s high asset divorce laws conform to state regulations when it comes to divorce. Importantly, this means that high asset divorces are governed by the community property rule set forth in Family Code section 2550. This regulation states that, absent any prior agreements, all assets acquired during a marriage are considered shared, or community property, and therefore subject to a 50/50 division during divorce.

Assets subject to such division may include money in bank accounts, real estate, other financial assets, and retirement funds. Community property sits in contrast to separate property, which is money obtained outside of a marriage. Typically, an asset may be considered separate if:

• It was obtained before marriage. This includes any of the assets listed above. Money earned, investments made, personal income, properties, and other viable assets all may be considered separate if you obtained them before marriage.

• Gifts and inheritances. If either of these were received during a marriage to only one spouse, those items are not considered community property and, therefore, will not be subjected to a 50/50 split.

• Profits derived from separate properties. If there is income derived from properties or investments that fall under “separate,” then those likewise are not subject to division by the courts.

• Debts. While debts incurred during a marriage are considered community property, those incurred outside a marriage fall under this category. Some common examples include student or personal loans obtained by one spouse.

These are just a few common examples of items that may be exempted. The line between community and separate property can oftentimes be ambiguous. When entering divorce proceedings, it is critical to hire an experienced high asset divorce attorney to conduct an asset evaluation. This can mitigate potential conflicts and assist the overall divorce process.

High Asset Divorces

In California, high asset divorces are those that usually involve couples whose assets total $1 million or more. While this sounds like a lot, it is important to remember that it includes all assets such as real estate, vehicles, investments, and debt.

Given that the median income for a household in Santa Barbara is around $100,000 per year, and the average home sells for about $2 million, many couples entering the divorce process find themselves in high asset litigation. High asset divorce cases often present unique challenges. Some of these include:

• Valuation of assets. Because of the complexities and interconnectivity of a couple’s assets, distinguishing between separate and community property can be difficult. Because of this, it is critical to have professional guidance when valuing assets. Often, law firms employ forensic accountants when evaluating properties involved in a divorce.

• Tax issues. The division of assets can have significant tax implications. Selling of properties, claims on dependents, and ownership of properties can all affect capital gains. It is essential to have seasoned counsel by your side to keep you informed of the taxation consequences that accompany them.

• Heightened emotions. Divorce is often a painful process for all involved. The presence of significant assets can exacerbate acrimony and make proceedings even more difficult. As such, it is not uncommon for a divorcing spouse to attempt to hide assets. Having skilled counsel by your side can help maintain transparency and avoid any such discrepancies.

Take Proactive Steps

Given the complexities that can accompany a high asset divorce, it is important to take proactive steps to help ensure an equitable division of property. An important step is to keep a record of your financial interests. Bank statements, investments, shares, debts, and property transactional statements can all help your attorney when entering a high-asset divorce.

It is critical that during the divorce process, all parties refrain from attempting to obfuscate or hide assets. This can have critical consequences, including the awarding of those properties to the other spouse if the court officials uncover duplicity. With sound legal counsel, equitable division is possible.

Why Choose Us?

At Drury Pullen Law, we have been assisting the residents across a broad range of litigation for years to ensure their interests are protected. We understand that dissolving a marriage can carry an emotional toll, and that the complexities of financial division can be overwhelming. Our talented attorneys can draw on their extensive experience to conduct a thorough evaluation of your assets, ensuring an objective and equitable division of property during divorce proceedings.

We understand the importance of communication and can offer informed legal counsel on the appropriate actions to take. Whether in the courtroom or at the mediation table, Drury Pullen Law will work to advocate on your behalf and ensure your interests are defended.

Hire a High Asset Divorce Lawyer

While a high asset divorce can be a difficult process, it is important to remember you are not alone. On average, national divorce rates are 14 per 1,000 marriages. When navigating the path of divorce, it is critical to ensure your financial health is protected and that your marriage’s assets are equitably divided. 

Having skilled counsel by your side can help ensure the lawful division of property and secure peace of mind for your financial future. Contact us today to speak with our legal team and learn how we can help you.

Contact Drury Pullen Law Today for Property Division Needs

If you are facing the process of dividing assets in a divorce or legal separation in Santa Barbara County, we encourage you to contact Drury Pullen Law for assistance. Our team of experienced property division attorneys is dedicated to helping clients in Santa Barbara and the surrounding areas navigate the complex process of dividing assets and reach a fair and mutually beneficial resolution.

At Drury Pullen Law, we understand the emotional and financial challenges that can arise while dividing assets, and we strive to help our clients reach a resolution as efficiently and peacefully as possible. Whether you are seeking to negotiate a mutually beneficial agreement or need representation in court, our team is here to help.

To schedule a consultation with one of our experienced property division attorneys, please don’t hesitate to contact us. We are here to help you navigate this difficult time and protect your rights and interests as you move forward with your life.