While divorce is a difficult process regardless of your net worth, it can be especially challenging for individuals whose assets run into the millions of dollars. For couples with high assets, the divorce process can become an incredibly high-stakes battle to ensure individual post-divorce financial security.
A prenuptial agreement could be the answer you're looking for to protect yourself if you're a female entrepreneur. It's always wise to look into ways you can protect yourself before you get married. If you don't, then you could find it extremely difficult to do so if your marriage should later end in divorce.
If you are facing divorce in a situation where there is a significant net worth, you simply cannot take any chances when it comes to finances. Especially in contentious divorces, finances often play the most critical role in the divorce process and can also become a source of great conflict.
If, like many divorced or divorcing Georgia parents, you're sharing custody of your children, you know that it can be difficult for kids to get used to moving between homes to see their parents. It's essential that they have a room of their own (or maybe that they share with their sibling) at each home — not just where they live with one parent.
Most parents naturally want the best for their children -- and that often means making sure that the money is there for a college education no matter what.
Anyone who has been through a divorce, even an amicable one, can tell you that it's not a pleasant experience. There is always an emotional toll on the spouses. Decisions made in the heat of the moment or simply without preparation, can resonate for decades to come.
Imagine you and your spouse enjoyed fancy meals, expensive homes and luxurious vacations on a regular basis during your marriage. If you're planning to get a divorce, a Georgia family law court may seek to ensure that both of you enjoy the same standard of living you've grown accustomed to during your marriage. That is, if that standard of living was real and not artificially created through credit.
It doesn't matter who you are or how much money you have; divorces are difficult. There is the emotional aspect of the divorce to deal with, but there's also the reality that you have to do everything in your power to protect the assets you've built over time.
At best, divorce is frustrating, but it is usually much worse. Ending your marriage is often a heart wrenching and complex experience. If you attempt to go through a divorce on your own, you will suffer emotionally and financially.
It seems like every day, we read about someone getting a divorce. We hear about the assets at stake, the reasons for the split and whether the parties are amicable or contentious.
After a divorce (or a breakup between unmarried parents) most may not think about the prospect of further litigation. But the reality is that people may still have disagreements after a decree is entered that may require court intervention. For instance, there may be missed (or denied) parenting time, clashes over payment of unreimbursed medical expenses, and challenges over passports.
Divorce tends to be difficult for most couples. When high-value or complex assets are up for division, additional complications and tensions often ensue.