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Many issues common in a high-asset divorce

On Behalf of | Oct 11, 2019 | Family Law

All divorces are unique. This is because divorce is defined by the dynamic between the divorcing spouses, but also factors such as whether there are children involved and net worth. If you have a high amount of assets in your marriage, the divorce is likely to be more complex than average.

The more assets that need to be divided, the more complex the process can be. The following are some issues that can arise in a high asset divorce that you should be aware of.

Assessing financial assets could take longer

In a high-asset divorce, the process of identifying marital assets can take a significant amount of time. Additionally, these marital assets will need to be valued. This can be a significant challenge if marital assets include businesses, homes and antiques among other things.

Disputes are more likely

Due to the high stakes of a high-asset divorce, disputes are more likely. This can drive up the cost of a divorce and create a more stressful experience for everyone. It can be possible to avoid disputes by managing expectations from the start and planning ahead.

Alimony is likely to be awarded to one spouse

If there is a big disparity in the incomes of each spouse, the spouse who earns less will likely be awarded alimony for a certain amount of time after a divorce. This can be a highly contested issue that requires planning to adequately manage.

Going through a high-asset divorce can be particularly complex, but when done right, it will ensure a fair outcome and a bright future for you and your children.