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.
It's often said that the more you have, the more you have to lose. When it comes to high-asset divorces, this is, unfortunately, true, and it is why high-asset divorcing spouses must be especially proactive when navigating the entire process.
If you are going through a divorce or have recently become divorced, you may be in the process of negotiating, or you may already be subject to alimony payments. Alimony, otherwise known as spousal support, tends to be awarded to the divorcing spouse who earns a lower income. This is done to try and ensure that neither spouse has to lower their standard of living due to divorce.
When you think about high-value assets, you likely think of real estate, investments and perhaps even cash that you have on hand. You want to divide your financial assets up properly, which mean selling physical assets -- the house -- to split up the value.
You have probably heard people talk about financial issues and how they can lead to divorce. Most of the time, these stories refer to couples who can't pay the bills. When money gets tight, it creates a lot of stress, and this often leads people to seek a divorce.
High-asset divorces can present many complexities because there is a lot at stake for both spouses. High-asset divorces are more likely to lead to conflict and complex litigation since spouses are more inclined to engage in aggressive tactics such as hiding assets.
In a high-asset divorce, one of the potential issues you may face is if your spouse decides to hide assets. They do this because they don't want to split those assets with you, and they may think that you don't know enough about the family finances to even notice what you're missing. Hiding assets may be illegal, but it does happen.
We all want the best for our children, and this means that we do everything we can to ensure their success both academically and socially. However, we can't always control the challenges that we face in life. If you are approaching divorce as a parent, it is likely that you are concerned about the way that this could affect your child.
It's unfortunately common for spouses to become hostile toward each other during the divorce process. This hostility can cause petty arguments and unnecessary stress. Typically, divorcing spouses who are able to collaborate in a civilized way get the most positive outcome from a divorce.
When people imagine their future, it is unlikely that being a co-parent is what they envision for their family. However, the reality is that relationships do not always work out and co-parenting can be still a successful way to rear your children to be happy and healthy individuals.