Understanding The Divorce Process For Professionals
Whether you have been married for decades or only a couple of years, divorce can be an intimidating and complicated process. This is particularly true if you or your spouse is a professional ― such as a doctor or lawyer ― and have acquired significant assets throughout your marriage.
For instance, the division of substantial assets and property, including homes, businesses, investments and retirement accounts, can be quite complex and often contentious. Given what is at stake during divorce, it is crucial to fully understand the process so you can avoid needless, not to mention costly, mistakes.
The First Step: Filing Divorce Petition
As with all other divorce proceedings in California, the divorce process for professionals starts when one spouse files a divorce petition, which is then served on the other spouse.
Each side must then provide the other side with his or her Declaration of Disclosure, which, as its name suggests, is the disclosure of your assets, income and debts. In the case of professionals and other successful individuals, these disclosures often include references to bank accounts, business entities, stock portfolios and other investments.
As a professional, it is always a good idea to consult with a lawyer if you are considering divorce. At the Law Offices of Lynda Sheridan, we can explain your legal rights and guide you through this complicated process. Attorney Lynda Sheridan can review your assets, help place a value on them and assess whether they may be considered separate property, in which case you may not have to split them with your soon-to-be ex. To schedule a meeting, email us or call us at 310-272-5357 for a FREE 30-minute telephone consultation.
Is There Any Way To Keep My Divorce Proceedings Private?
Many professionals, including business owners and professional athletes, prefer to keep their personal lives out of the spotlight. This can be difficult to accomplish during a divorce, however, especially if the divorce goes to trial.
Fortunately, you do have some legal options available to keep your divorce more private. For example, with the assistance of your attorney, you can agree to a voluntary settlement conference to negotiate with your spouse outside of court, which can help keep your personal life and assets from becoming public knowledge. In many cases, couples are able to resolve all divorce-related issues in settlement conferences, including:
- Property division
- Child custody and support
- Spousal support, which is sometimes referred to as spousal support
Avoiding trial not only maintains your privacy, but it is also often less costly and significantly faster.
Not Sure What Option Is Best For You? Contact Us For Experienced Guidance.
Regardless of whether you want to litigate your divorce or keep it private, the Law Offices of Lynda Sheridan can help. With more than 20 years of legal experience, attorney Lynda Sheridan is both an experienced litigator and skilled negotiator. Simply put, she can assist you no matter the circumstances. Even if you are unsure about which path to take, she will explain your options and give you a cost/benefit analysis regarding whether litigation would be beneficial for you or not.
From our office in Century City, we assist clients throughout Los Angeles County and Orange County, including those in Beverly Hills, Sherman Oaks and Santa Monica. Contact us today to learn how we can help you.