No divorce, no matter how many assets you have, can likely be called “easy” to sort out. It’s more likely for disputes to become more heated the more valuable assets someone has, though.
A few different details make negotiating a settlement in a high net-worth divorce a bit more challenging than it is for other couples. Those factors are detailed below.
Various sources of income
You and your spouse may have income coming from one or more jobs, plus investments, bank or investment account dividends or various other sources. Identifying all the different streams of income, especially when there are bonuses and incentives, can prove challenging. You must hone in on a the correct amount if you’re looking to broker a fair settlement agreement between you and your spouse.
There’s a concern over privacy
Fortune often comes with recognition or notoriety. Litigated cases are often open to the general public. Discussions about your net worth, your kids’ custody and other private matters may become public fodder if you don’t take measures to prevent that, such as negotiating an uncontested divorce settlement or mediating your divorce.
Your likely have multiple properties instead of just a marital home
Real estate is much like a family business in that its value can shift considerably depending on its location, improvements that have been made to it and other factors. Whether one is talking about businesses, real estate or bank accounts, tracking down foreign assets can prove to be challenging. It’s important, though, as this is where valuable assets are likely to be hidden.
Your divorce can either make or break you when you have significant means. It’s critical that you carefully weigh all different decisions and choices to ensure that you’re doing what’s best for yourself now and in the future.