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How comparative wealth can affect divorce

On Behalf of | Sep 4, 2018 | Blog, High Asset Divorce

According to some experts, amicable divorces are actually more common among Californians with very significant assets. One divorce attorney said that wealthy couples with over $5 million in assets are more likely to achieve amicable settlements. However, upper middle class couples who still have substantial wealth but less than $5 million may be more likely to struggle over property division.

Of course, financial problems are themselves often a significant contributor to divorce, and that can be reflected in the process. This can especially be true in a high-asset divorce where complex investments must be disentangled in order to achieve a settlement. Upper middle class couples have achieved a great deal and developed their wealth, but maintaining that wealth is critical to their continued financial success. Therefore, both parties in a divorce may be highly invested in achieving a positive outcome. In some cases, one divorcing spouse may attempt to hide funds or minimize the value of an asset while the other spouse is left to pursue further research in order to correctly value the property.

To avoid this dynamic early on, some family law attorneys advise that professional couples consider a prenuptial agreement before tying the knot. While many people do not like the idea of a prenup as it contemplates divorce prior to marriage, it can also make clear issues and expectations around property, assets and debt.

When wealthy couples decide to divorce, it is important that they emerge financially stable and prepared for the future. A family law attorney can help a soon-to-be ex protect key assets and achieve a just settlement on a range of issues, including property division, child custody and spousal support.