Few people would describe divorce as an easy, straightforward process. Certain issues, such as property division, child custody and spousal support issues, can heighten tensions.
Contention can become even more magnified during a high-asset divorce, though. Couples with significant net worths often own assets that may be more challenging to divide.
High-net-worth couples often own multiple properties
Couples with high net worths are likely to own more than just the family home. For example, couples may own vacation properties, both domestically and abroad. Furthermore, wealthier couples might have a full portfolio of investment properties and accounts, several businesses and offshore bank accounts. Divorces that involve a greater number of assets are likely to take more time to negotiate.
Income can come from various sources
One or both spouses may have revenue streams coming from various different sources with varying levels of financial success. This could make trying to isolate exact incomes more difficult, which may make issues such as spousal support challenging to settle.
Maintaining privacy could be challenging
When divorces involve high-profile personalities, maintaining privacy can be a key issue. Leaked information with regards to your family, children or finances could be potentially damaging for your reputation.
Deciding to divorce is a big decision that can have life-altering effects. However, your post-divorce life can also is a new beginning. As a spouse involved in the divorce process, you should know your legal rights so you can exercise them to the fullest.