If you are 50 or older and going through a divorce, chances are good that you and your spouse have acquired significant assets and marital property during your union. If so, the focus of your divorce will be less likely on the custody and visitation schedule with the kids and more on the property settlement.
Any high-asset divorce has the potential to cause conflict. Both parties have a lot to lose, so it makes sense that they may fight tooth and nail to keep all they can.
Going through a divorce when you have a considerable amount of assets can be a complicated process. You and your spouse may have assets that are invested, saved or put aside that you'll have to access and disclosure during the divorce. You might have assets your spouse doesn't know about or vice-versa. These need to be fully disclosed.
As you may know, high-asset divorces typically last a very long time. They also come with deep conflict, particularly over property division issues. Most people heading into a marriage do not give much thought to the possibility of divorcing one day. However, as statistics from the American Psychological Association confirm, about half of the marriages in America end in divorce.
The wealthier you are and the more apparently stable your family life seems prior to your divorce, the harder your children may take it when the divorce finally comes.
When you're going through a high-asset divorce, one thing you might not be thinking about is how it could affect your children's outlook. While you're worried about their health and overall happiness, the reality is that the cost of this divorce could affect them, too.
The high cost of marital infidelity may be getting even higher. At the same time, affairs are occurring more and more often.
In a high-asset divorce, one of the things that people sometimes consider doing is hiding assets. If you're someone who thinks hiding assets is a good idea, you may want to rethink that assessment.
In the past, a divorce probably didn't feel "real" until one spouse moved out of the marital home and started living somewhere else. These days, however, a divorce doesn't feel real to many people until at least one of the spouses changes his or her Facebook status to "single."
If you're going through a divorce, it's a good idea to sit down and think about unusual assets that you could be forgetting in your asset list. You may not know about all the assets your spouse has in their possession, but with a little creative thinking, it's possible to find more of the assets you share, so that you can get a better payout upon divorce.