As if dividing up property in a high-asset divorce is not difficult enough, it can be even worse when you suspect your spouse is hiding assets from you. You do not want your ex to cheat you out of what you deserve, yet you may fear making any accusations until you are absolutely certain or have physical evidence. What should you do? How can you tell if there are hidden assets?
For some Massachusetts residents, privacy is a very personal matter, one that is taken seriously. A high asset divorce is often seen as a major invasion of that privacy since divorce records will become part of the public record, available for anyone to access for any reason. That means that a couple's financial information and personal matters can be placed in the public realm, a thought that many people find difficult to bear.
The high profile divorce between Johnny Depp and his former wife, Amber Heard, may be final, but the pair may return to court to debate the details of that split. As part of the couple's high asset divorce, Depp agreed to pay a settlement in the amount of $7 million. Massachusetts residents may recall that Heard pledged to donate that money to several charities. Now, however, she claims that Depp has failed to make good on his side of that bargain.
When many Massachusetts residents consider a prenup, they think about the contract only in terms of asset protection. In reality, however, prenuptial agreements have a number of benefits in addition to protecting wealth in case of a high asset divorce. One of the biggest reasons to negotiate a prenup is to go through a crash course in each party's financial habits.
Divorce attorneys agree that there are certain times of year when divorce filings spike. January, otherwise known as "divorce month," is one of the busiest months for family law attorneys. Often, a spouse will initiate a high asset divorce in the first few weeks of the year, after the holidays have passed. Massachusetts divorce attorneys often use the holidays to rest and recharge, knowing that things will be busy once the New Year begins.
Massachusetts readers know that the end of a marriage signals many changes for the two spouses, including financial adjustments and division of marital property. Any issue that involves the division of money or valuable assets can be complicated, and the appropriate distribution of retirement assets is no exception. Without care and the help of an experienced family law attorney, a high asset divorce has the power to derail a person's retirement.
Divorce may be on the horizon if the couple simply cannot reconcile their differences. The process of getting divorced can be difficult emotionally, no matter what the income levels of the parties may be. However, a high asset divorce can be especially tough to navigate.
When facing a divorce that will involve large amounts of money or valuable assets, common sense dictates that it's important to protect future financial well being. One of the most practical ways to fight for post-divorce stability in Massachusetts is by seeking the guidance of a lawyer experienced in high asset divorce matters. With the right help, it may be possible to prevent damage done by dissipation of assets.
For many Massachusetts spouses, one of the most concerning aspects of a looming divorce is the need to find alternative living arrangements once the process is complete. Even in a high asset divorce, one or both spouses will often need to find new housing options once a divorce is underway. It can be difficult to consider moving out of the family home, especially if that property is one's dream house.
When older Americans decide to end their marriage, it will bring to light a host of complicated financial issues that must be addressed before the process can be finalized. Gray divorce is a term given to describe the high and growing number of people who choose to divorce in the years close to retirement and after decades together. A high asset divorce is almost always complicated, and it can be especially more so for Massachusetts couples with a large amount of retirement savings.