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Posts tagged "High Asset Divorce"

High asset divorces and capital gains

The divorce process for high net worth couples is generally more complex and involved than divorces of typical couples. The property division portion of a high asset divorce can open high net worth couples up to significant tax implications. Working with an experienced divorce attorney can help these couples identify potential liabilities and draft a plan for limiting their tax exposure.

Recovery during and after divorce

Going through a divorce is an extremely emotional experience. Even for the most civil of all separations, divorce changes every aspect of an individual's life. If there are children involved, or the divorcing couple is of high net worth, matters can be made even worse. That is why it is so crucial for divorcing spouses to focus on recovering emotionally, mentally and financially during and after the process.

High net worth couples can make mistakes in divorce

Like marriage, divorce too can leave spouses with a heavy financial burden. In fact, all divorces, even the easy ones, have some financial impact on exes. Understandably, high net worth couples involved in high asset divorces experience this impact on an even greater scale. With such a large amount of property, assets and money at stake, any potential mistakes can change the outcome of a high asset divorce substantially. To protect one's self from crippling financial loss, it is important for divorcing couples to avoid the most common of all high asset divorce mistakes.

High asset divorce may make for serious financial trouble

Couples get divorced every day for a variety of reasons. It should come as no surprise that money is a leading cause of marital discourse. While money may be a contributing factor in many divorces, some spouses may not be aware of any financial issues until after the divorce is filed.

How does a qualified domestic relations order work?

A qualified domestic relations order, commonly known as a QDRO, is a court order allowing someone other than the original plan participant to receive money from a retirement account. For many individuals, especially those divorcing later in life, retirement accounts represent a significant investment and, therefore, are often subject to property division.

Plan for business appreciation before divorce

Even the most well-prepared individuals sometimes overlook important aspects of their situation that come back to haunt them later. In reference to marriage and divorce, many individuals find it too overwhelming to consider everything that may impact their financial well-being. However in the event you own your own business and get married, preparation and planning are crucial to protecting your interests.

A marital property checklist may be useful

The divorce process can be complex and confusing. For individuals going through a high asset divorce, property division can be one of the most complex aspects of the entire process. While every divorce represents some type of financial concern to the parties involved, a high asset divorce may represent a significantly greater concern.

Offshore account used to hide marital assets

Alaska is a long way away from Texas yet when it comes to the very rich divorcing; they are not so far apart. Many high asset couples go to great lengths to hide assets from one another when faced with divorce. In a recent article in Forbes magazine, the case of one Alaska man's attempt to hide assets from his ex wife ends in a criminal conviction.

Deion Sanders' divorce has lasting effects

The 2013 divorce of NFL broadcaster and former Dallas Cowboy Deion Sanders from his wife Pilar Sanders may be old news, but the differences that led up to it are long from over. The Dallas Morning News reports that the two are back in court battling even more issues and re-addressing custody.

Man sleeps outside estranged wife's mansion

A Texas man is going beyond contesting his impending divorce to downright protesting it. The 69-year-old man has been living in the front bushes of his large, mansion for the past several months. As a recent Daily News story reports, since his wife filed for divorce last June, he has been against moving, divorcing and giving up his beautiful home.