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High Asset Divorce Archives

The trouble with splitting up art during divorce

Trying to divide some assets during divorce is fairly easy, because finding out the value of those assets is simple. For instance, perhaps you bought a car for $50,000 and now it is worth $30,000. You can find plenty of comparable vehicles online in seconds to determine the value of the car.

Will my spouse take everything in our divorce?

Years upon years of television shows and movies that use disastrous divorce as a plot point make it seem as though somehow, in the middle of the night, the spouse you divorce will figure out a way to deny you a fair share of your marital property and take everything. While this makes for great storytelling in capable hands, in practice this is very unlikely, although certainly possible. If you have concerns about how you should approach an impending divorce, now is exactly the time to build your divorce strategy and ensure that you do not receive a grossly unfair settlement.

Protecting your child during a complicated divorce

When parents with significant means choose to divorce, this holds the potential to cause great strain on the children in the marriage. Often, this is because high-asset divorces are rarely simple, meaning that the matter may drag out much longer than it might between two parents with fewer issues to resolve in the divorce process. Depending on the nature of the divorce, parents may not realize that they are focusing on dividing up their considerable assets in a favorable way rather than what is truly best for their children.

Disadvantages to Uncontested Divorce

Uncontested divorce can provide much needed relief to those who need to end a marriage but hope to minimize the complications of the process and get the matter resolved as quickly as possible. While many couples do technically qualify for uncontested divorce, it does not always serve the couples' greater needs beyond bringing and end to their legal relationship.

It is not always clear who pays the bills during divorce

Divorce is often a complicated matter that can take months or more than a year to complete, especially if the marriage in question involves significant assets. In cases where a couple must take significant time to work out the details of the divorce, it can prove difficult to work out finances in the meantime to make sure that both parties remain afloat and do not suffer unnecessarily or accrue unacceptable debt.

Make sure your divorce doesn't threaten your credit score

A fundamental part of almost every divorce is dividing up assets and liabilities in a fair way that a court will approve. As part of your property division negotiations, it is common for one spouse to assume the consumer credit debts of another to even out property division terms. However, if these issues are not carefully examined and resolved as part of the divorce negotiation, creditors may continue to pursue both parties for payment if one party does not uphold his or her end of the agreement to repay the debt.

Legal separation offers struggling couples options

Divorce is complicated process, and while it does resolve many conflicts in marriages that cease to function, it is not the only option that couples have under the law. In some cases, couples may find that pursuing a legal separation allows them to "restructure" their marriage to create a stronger, lasting relationship. In others, a legal separation may simply create a civil, responsible preamble to a successful divorce, offering couples time and space to consider the divorce carefully and ensure that each party receives fair consideration.