If your spouse asks for a divorce, one of the first things you need to think about is your financial position. You have a lot at stake here. Mistakes during this process could cost you tens of thousands of dollars -- or more.
You and your spouse have an art collection with a value in the millions. You love the art and collected it for its own sake, but you also know that it's a serious investment. As you move toward divorce, you will need to determine what to do with it.
When you and your spouse decided to buy a vacation home, you did not just want a property up in Michigan or out on the East Coast. You went all out and paid well over $1 million for a property in Europe. You bought a beautiful historic home on the water. It had a lot of charm and really gave you the relaxing escape you were looking for.
You and your spouse actually started talking about your business plans before you got married. You launched the company the same year that you tied the knot.
Your child gets accepted into a prestigious Ivy League school. You are thrilled. It has been your dream for a long time. You value education and you want the very best for your child.
Couples may end up arguing about a lot of things during a divorce, from child custody arrangements to whose fault the divorce is. One of the key points of any case, though, may be some of their high-value assets. When they don't agree, it can make splitting up property more complicated.
You and your spouse bought a home worth $1,000,000 about 10 years ago, and the value has only increased. When you file for divorce, you want to sell the house and split up the proceeds from the sale.
Divorce is not an overnight process, and that can lead to a lot of problems. After you tell your spouse that you want to split up, they have plenty of time to take actions that prove detrimental to you. Feeling frustrated and even angry, many people try to lash out at their significant other as the relationship ends.
Dissipation of marital assets is something that is often rooted in nothing more complex than spite. You file for a divorce. Your spouse does not want the marriage to end. To get back at you, they begin to waste the marital assets as quickly as possible, thereby preventing you from getting your fair share of them.
Wondering if you can have an amicable divorce with your spouse or if the two of you are going to work it out in court? It may depend on just how much money you have.