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Any divorce can have complications, but a high asset divorce can be especially difficult to settle. Property and asset division can be daunting when there are large sums of money on the line. And if you built your wealth by owning and running your own small business, you could end up having to divide as much as half of the assets associated with that business with your ex-spouse.
Going through a divorce can be an emotional and complex process for any couple. But this is especially true when a couple has been married for many years and has managed to amass a high volume of valuable assets during that time. It can be extremely complicated to determine who should get what. What's more, hurt feelings and anger can make reaching an amicable agreement almost impossible.
People typically enter marriages with the belief that their partnerships will last for the duration. Unfortunately, not all marriages are built for the long haul. In some cases, a couple's relationship may erode over a period of years. During this time, spouses may begin to keep secrets from one another. Sometimes these secrets are in regard to the acquisition of financial assets.
We have talked about the prenuptial agreement before, and how important this document is to both divorce and marriage. There are a lot of things to consider when it comes to that prenuptial agreement, and, once complete, that contract can dictate how a divorce proceeds. However, this has led to the perception that prenuptial agreements are ironclad and that they cannot be challenged or appealed. And this simply isn't true.
While a divorce symbolizes the legal recognition of the end of a marriage -- and a couple's decree that they can no longer be together -- there are also many other matters that need to be dealt with to ensure that the divorce is finalized and complete. Just one of these issues is property division, a topic that can be stressful and divisive between the two people who are filing for divorce.
When a couple decides to file for divorce, there are obviously a million things on their mind, and many of them relate to how they are going to deal with the issues inherently involved in their divorce. Assets are one of these key issues that are inherent to divorce. You could call it money, finances, assets, whatever -- because in any case, we're talking about the same thing: a critical factor in your divorce.
The ex-wife of an oil tycoon billionaire recently lost her appeal of the $975 million she was awarded as a part of their divorce. The estimated value of their marital estate was $18 billion, so even though Sue Ann Arnall's appeal may seem ridiculous, she may truly feel that she got the short end of the stick. Her now-ex-husband Harold Hamm wrote her a $975 million check to complete their divorce settlement late last year.
When it comes to any topic, people usually think of that topic in the most conventional or simple way possible. For example, take divorce. It is likely that you when you hear or read that phrase, you immediately think of a family that is going through a rough time. They may or may not have children, and they may or may not have certain issues that you imagined for them, but the basic premise is the same: two people deciding that their marriage is over.
We live in a digital age, and social media is a massive part of the constant interconnectivity that we all have now. For the most part, social media is harmless and, indeed, it can actually be a very useful tool that allows friends and family to organize events and stay in touch. There are many useful ways that social media can be used.
Imagine that you and your spouse "say yes" and agree to get married. Your wedding day is a ways off, but there are still a lot of things that you have to figure out before you walk down the aisle. One of these things is a prenuptial agreement.
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