When San Jose spouses decide to end their marriages, finances are often a top concern. This applies in particular when the couple has significant assets. Depending on the situation, and whether the couple has a prenuptial agreement, the stakes can be high.
Indeed, the media often contributes to the anxiety that some high net worth individuals may have about ending the marriage. Celebrity divorces often involve significant amounts of money, but the assets involved may be nothing and compared to the divorces of international business tycoons such as Rupert Murdoch, whose 1999 divorce reportedly cost him $1.7 billion.
Of course, most people don’t have to deal with such numbers, even those who have been very successful. Still, many high-income people have a varied portfolio of assets which may include things like pensions, complicated investments and multiple properties. It can be difficult to sort out the value of all these assets and to come to an agreement without unnecessary antagonism.
An additional point of concern may be the willingness of both spouses to acknowledge a location of various assets. For example, a spouse may have an offshore account or property interests in other countries. This should be disclosed at the time of divorce to ensure a fair settlement. Failure to reveal the existence of these accounts, in fact, may lead to a spouse going back to court if the deception is eventually discovered.Individuals who are headed for high asset divorce may benefit from speaking with an experienced family law attorney. Counsel may be able to review the client’s situation and finances and make appropriate recommendations regarding matters such as property division and spousal support.