Occupying the corporate C-level grants you access to a highly unique lifestyle. It also comes with some unexpected personal relationship challenges. No matter how well you think you have things figured out, your divorce could take a far different form than what you might expect. How will your experiences differ from what your average worker goes through? Here’s what C-suite execs need to know about splitting from their spouses in Southern California.
Fundamental Distinctions of Divorce for C-Suite Executives
CEO divorce cases fall under the same legal umbrella that covers all California family matters. Unfortunately, the issues faced by high earners or in high-net-worth divisions may not always be the same. High earners and high net worth estates raise questions that are not mainstream such as:
- What happens when your once-routine business travel starts interfering with your custodial schedule?
- How will different forms of non-salary compensation impact an award of spousal support? This includes stock options, shares, performance incentives, stock rights, and bonuses
Will a CEO’s ex-spouse be entitled to any of the interest the executive holds in their company?- Is the analysis for an extremely high earner affect the calculation of child support pursuant to California guideline?
These kinds of issues are just the tip of the iceberg. The choices you make impact issues of custody/visitation, support, and asset division.
Clarifying Divorce for CEOs
Most San Diego divorce laws weren’t explicitly written with high-net-worth CEOs in mind, but over time, judges have attempted to address out the unique dynamics of property divisions, child custody modifications, support arrangements and other matters involving significant high-earners and high net worth estates. Of course, not all precedents may be in your favor.
Being an executive does not entitle you to preferential treatment by the court, so tread cautiously. For instance, if you think you might seek a divorce in the coming months, then it may be wise to delay certain actions that could be viewed unfavorably, such as moving assets out of your investment portfolio.
From Coronado to Rancho Santa Fe, CEOs still have to participate in the process no matter how busy their jobs keep them. This makes finding a dependable legal advocate that you can trust to review your options of litigating, mediation with a private judge, to stay on top of hearings, discovery requests and other developments all the more important.
Steering Through Your Upcoming California High Net Worth Divorce
Just as you’d ask your employees to submit plans before embarking on new projects, you should invest in thorough pre-divorce strategizing. Thanks to the increased likelihood of contentious proceedings, high-powered C-suite divorces can be lengthier than their lower-income counterparts.
Take Control of Your Future With Superior Legal Advocacy
Going through a CEO divorce dramatically complicates tasks including the need for detailed settlement agreements, distributing high-value community property, and providing for your children. At Neumann Family Law, APC, we make it easier for San Diego’s business leaders to move their personal affairs forward successfully. Take a brighter outlook on your divorce by contacting us today at (619) 363-5906 to schedule a personalized consultation.
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