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High Asset Divorce Archives

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.

How much of your marriage's debt should you take in a divorce?

When couples with significant complex assets choose to divorce, reaching fair agreements surrounding property division is often very difficult. This is even true in instances where both spouses prioritize a peaceful divorce process and fair property division terms. While those who have relatively few assets or debts between them may find it possible to quickly divide up a handful of things and go their separate ways, divorces involving robust estates often require complicated assessment and negotiation.

High asset divorce, taxes and avoidable expenses

Divorce is rarely simple, but when a couple with significant assets chooses to divorce, both spouses may have a number of issues to consider that other couples never encounter. In the eyes of the law, divorce is more or less the same as dissolving a business partnership, and requires spouses to agree on a fair way to divide their marital property, including both assets and liabilities. While any couple who divorces must address marital property, spouses in a high net-worth marriage may find that they face significant tax burdens once the divorce finalizes.

Is fair property division possible in divorce?

Property division during divorce may play out many different ways, depending on the individual factors in your marriage as well as the laws that Florida has in place that govern property division. Unlike some other states like California and Texas, Florida uses the "equitable distribution" model of property division. This means that a couple may divide assets and liabilities held within their marriage many different ways as long as both the spouses and the court agrees that the division is fair and legal.

High asset divorces and where to file

When a couple with significant assets chooses to divorce, they may face a number of complicated issues that other couples never encounter. One of the most common complications is where to actually file for divorce, which may greatly affect the outcomes of the process. While many couples may think, "Of course I'm going to file my divorce where I live," many wealthy individuals may have grounds to claim residence in a number of places, and each of them may provide distinct advantages or disadvantages.