While there are a lot of celebrity couples in California, not every couple deciding to end their marriage will make national headlines. There are plenty of wealthy couples who divorce and manage to avoid unnecessary litigation and legal complications. To follow along the same path, a person facing the prospect of a high asset divorce would be wise to work with a legal professional in order to prepare for what lies ahead.
Divorce is not an easy process, especially when it involves valuable property, expansive investment portfolios, successful businesses and vacation homes. For this reason, many California couples choose to protect their interests with a prenuptial or post-nuptial agreement. When this legal protection is not in place, assets will be divided according to state guidelines, which is a 50-50 split of all property, assets and cash.
For some couples, financial negotiations can lead to a resolution that is beneficial to both parties. It is critical to work with a legal professional who can help the client pursue a practical settlement that will provide stability for years after the divorce is final. People with reasonable expectations and those who have outlined their divorce goals are most likely to avoid unnecessary and costly court battles.
No matter the financial situation of the couple, it is wise to work with a lawyer who is experienced in complicated property division matters. This experience can benefit the client as he or she begins to outline goals for post-divorce life and develop a strategy for the divorce. Preparation and professional legal counsel can ease the stress of this difficult process.
Source: The New York Times, “How Rich Couples Who Aren’t Pitt and Jolie Manage Their Divorces“, Paul Sullivan, Sept. 30, 2016