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Posts tagged "High asset divorce"

Separating from the home

A spouse should consider the couple's house, like other property and marital assets, as something that they may have to lose in their divorce. For tax and other financial reasons, the apparent financial value of the house and emotional attachments, may be misleading.

Deciding custody of the assets: 401(k) and other accounts

Between Labor Day and the December holidays, divorce filings rise. As the possible end of marriage is being considered during this time, asset valuation should be part of this planning because property division is not merely a 50-50 split. Certain assets have different financial consequences not readily apparent from their face value.

What can a divorce do to finances?

A divorce in Arizona may have financial consequences over and above legal costs. Several of these matters, even though they may appear complex and technical, should be considered as major issues that must be pursued in court or negotiations. Planning should start well before the divorce filing.

What happens when business owners in Phoenix divorce?

Many married entrepreneurs in Phoenix have started a business from the ground up. Some of these couples have achieved great financial success in their endeavors, and, therefore, one of their most valuable assets is the business itself. Unfortunately, just because a couple's business has seen financial success does not always mean that their marriage will be equally successful. And, should they decide to divorce, they must face the question about what to do with their business.

High-asset Arizona couples face unique divorce issues

While every divorce in Arizona is unique, a high-asset couple may face challenges in the divorce process that those of lesser means may not. High-asset couples may be business owners, earn significant incomes, hold valuable stocks, own more than one home, have received a substantial inheritance or own valuable assets, such as luxury motor vehicles, works of art or valuable collections. They may also have a prenuptial agreement in place. This may make the property division process more complex.

Postnuptial agreements can ease the divorce process

While some Phoenix couples enter into a prenuptial agreement prior to walking down the aisle, many others neglected to take this step. Perhaps they viewed the entire process as unromantic or as a sign that they did not expect the marriage to last. Perhaps they simply got so wrapped up in wedding planning that they never got around to it. However, sometimes one spouse or the other will later regret not having a prenup. Is there any help to spouses in such situations?

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