A little planning can go a long way, especially when it comes to finances. When people make plans involving pre-marital financial matters, that usually means a prenuptial agreement. But one can make plans to keep non-marital property separate -- even in a high asset divorce -- with a little extra forethought. Kentucky residents may be able to utilize some of the suggestions shared in a recent news article.
Did you accumulate significant assets both before and during your marriage? Do you own a business? Are you now facing a high asset divorce? If so, you have a lot at stake in a Kentucky divorce. It may be in your best interests to try to avoid a courtroom battle.
Ending a marriage is never easy, and when it involves a complicated estate with large amounts of money, businesses, properties and other complicated assets, it might need professional assistance. Having the right guidance may help to avoid the typical hurdles of a Kentucky high asset divorce. While protecting the high-value assets, there will also be cars, the dog, the kids, visitation rights, alimony and the house to consider. One thing that can jeopardize a person's post-divorce financial future is agreeing to anything just to get away from the situation.
You've worked hard for most of your life to get where you are, and you and your family have been enjoying the fruits of your labors. But what happens to all you've accumulated when your marriage suddenly comes to an end?
Richard Stephenson may not be a household name, but it is likely that Kentucky families have heard of his work. He is the founder of the Cancer Treatment Centers of America, a network of private hospitals that specialize in treating patients with cancers that are difficult to treat. Now, however, he has been consumed with a totally different undertaking as his high asset divorce has dragged on for more than 7 years.
When faced with the end of a marriage, some Kentucky spouses will act in ways that are uncharacteristic of them. This is especially true in regard to financial matters, where individuals can easily become extremely upset and sometimes downright unreasonable. An example is found in a practice known as dissipation of assets, in which one spouse intentionally acts to deplete the amount of marital wealth that will be subject to property division in a high asset divorce.
Celebrity divorces garner a lot of media attention and often shed widespread attention on sensitive financial issues faced by wealthy couples during divorce. Kentucky couples may not be celebrities and their high asset divorce may not cause national headlines, but these divorces can be complicated and must be handled effectively. Fortunately, it is possible to walk through a high asset divorce without unnecessary and expensive litigation.
The rate at which aging baby boomers are choosing to end their marriages continues to grow, impacting retirement and other significant financial matters. Many older couples have valuable assets and/or have set aside funds for retirement, but a divorce can significantly alter such plans. For many of these individuals, a high asset divorce is a complex process to navigate.
If you are planning to file for or are going through a divorce, you're likely experiencing a range of strong emotions. Fear and uncertainty are some of the most common emotions experienced by individuals who are going through divorce and both can be strong and negative motivators.
Kentucky readers know that financial disagreements are one of the most common reasons that couples choose to end their marriages. These financial disagreements often foreshadow the complicated disputes that are common in a high asset divorce, including fights over retirement, savings, business ownership and more. With preparation and the right professional support, it is possible to manage these complications effectively while still protecting financial interests.