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Why are high-asset divorces so complicated?

On Behalf of | Oct 28, 2024 | Family Law

Divorce for the average American couple is not an easy process. The stress of figuring out everything from child support to dividing up finances can be quite taxing. However, divorce can be even more complicated when a couple has considerable wealth.

Wealthy couples often have assets beyond those of a middle-class couple. Dividing up the household between the two spouses is more complicated when you have to figure out who gets the vacation home and the business and how to divide the stocks and bonds.

Things to consider in a high-asset divorce

There are things you can do to make a high-asset divorce less stressful. If you have a prenuptial agreement, that will help ease the tension of dividing up the wealth. However, with or without a prenup, there are things to consider.

  • Determine the value of your assets. This includes:
    • Homes owned
    • Bank accounts, stocks, bonds and trust funds
    • Retirement accounts
    • Vehicles
    • Jewelry and collectibles, such as works of art
  • Child custody and support.
    • Will one of you be the custodial parent, or will you share joint custody?
    • Who will support the children financially?
  • Spousal support
    • Will one of you receive financial support from the other?
    • Will said support allow you to live in the manner to which you are accustomed?

You also need to determine if there are hidden assets. Sometimes, one spouse hides assets from the other to give themselves a financial advantage. If you suspect this to be the case, you will need help to uncover any hidden assets.

Stay away from social media

Refrain from posting about your divorce on social media platforms, especially if you are a high-profile couple. Your privacy is important during this time. Remember, too, that anything you post could potentially be used against you by your spouse. 

Given the complexities of a high-asset divorce, you should not try to handle it alone. Instead, seek guidance to help you work through the details and protect your interests.

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