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Suggestions to keep in mind for divorce with substantial assets

With the high-profile and expensive divorce cases currently going on, many people in Nevada may be wondering what considerations might be best should they ever find themselves in a similar situation. Though any marital split can be an unfortunate and depressing affair, a divorce involving substantial assets can have life-altering impacts for years and years to come. There are several concerns that more wealthy individuals should consider in the event that they face divorce.

First, before even deciding to get married, a person should seriously consider forming a proper and mutually acceptable prenuptial agreement. Such an agreement should not only be made, however, it should also be maintained over the years. Attorneys note that an agreement made lightly or flimsily can be challenged and made void in an assortment of ways, so it is very important for soon-to-be-married individuals, especially business owners and other lucrative people, to take such an agreement seriously.

Assets and fees are other aspects that should be kept in mind. Dividing assets between divorcing couples is rarely a simple affair, especially if one or both parties have difficulty agreeing. On the other hand, experts have pointed out that a divorce that goes through swiftly and ends in agreement can cost as little as 15% of the cost it would take to bring the divorce to trial.

Finally, any children involved are obviously the most important factor to consider. Nevada residents should note that there are limits put in place that essentially places a value for each child, and child support standards are severely limited. For instance, a child that may have enjoyed multiple houses and lavish transportation had the parents not filed for divorce will not be entitled to those same treatments afterward. It is important for people to keep these matters in mind when entering, or leaving, a marriage in which substantial assets are involved.

Source: The New York Times, “From a Divorce in the Affluent Class, Lessons for All,” Paul Sullivan, Aug. 9, 2013

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