Five months after being fired for sexual misconduct, a former television anchor is now living apart from his wife and children. Sources say he has moved out of the family home in the Hamptons and is living in a house nearby as divorce talks begin. In California and other states, a high asset divorce such as this can be a complicated and challenging process.
Going through a divorce can be an emotional roller coaster for everyone involved, even if that person is a real housewife from Orange County. One California woman and her husband continue to duke it out over their high asset divorce details after 17 years of marriage. He footed the bill for a luxury family vacation in Mexico for his soon-to-be ex-wife and three daughters
When a couple divorces, the separation of marital property can be challenging, especially when it consists of an art collection worth millions of dollars. In California and other states, if parties cannot agree to distribute property amicably and equally, then it may be up to an appraiser to decide it's worth. Some claim the only way to determine the exact value of priceless artwork during a high asset divorce is to sell it.
While prenuptial agreements were relatively uncommon as little as 20 years ago, they have turned into a common practice for present-day couples before entering into marriage. Gaining popularity as another way to manage control over personal assets and debt, postnuptial agreements are becoming more widespread as well.
Dissolution of marriage creates an enormity of changes, and it is no surprise that taxes will be affected. Failing to prepare for tax consequences may cause significant headaches when filing post-divorce returns. In California, taking some proactive steps can help ease the tax burden of a high asset divorce, and keep some of that hard-earned money in the bank.
There are special concerns and financial challenges for women entrepreneurs during a divorce. Whether the business is a joint venture with an ex-spouse or a sole proprietorship, it is critical that the company's worth is revealed. In California, one must be vigilant about the value and future business earnings during a high asset divorce.
In the big-money world of tech, divorces can cost what others might consider a fortune. For some entrepreneurs, a pile of newly-found wealth can embolden the urge to fight hard to keep it. For spouses married to tech entrepreneurs, a generous settlement may be their best shot at financial security for the rest of their lives. They're going to fight hard, too. At issue is the alleged king's ransom they're fighting over. Dividing the significant wealth that accumulates in the tech world isn't as easy as dividing piles of hundred-dollar bills, though. In Silicon Valley, wealth often comes in other forms that can be more difficult to divide.
Trying to come to an amicable agreement during a divorce is never easy for either party under any circumstances. But in a high asset divorce in California, it can be particularly stressful and unnerving, especially when the settlement is worth well into the millions. Even with a pre-nuptial agreement, both parties will still have certain demands.
People with significant assets who are divorcing typically don't want their personal business to be splashed across the headlines for anyone to see. For business people, having details of a divorce made public can not only be embarrassing, but can also create negative PR that could even affect a company's bottom line. While divorce and other court proceedings are generally matters of public record, there are steps you can take to protect your privacy.
Nelson Rockefeller faced an uphill battle as a presidential candidate in the 1960s due in part to the fact he was divorced. For many years, people in California may recall, many Americans thought that divorce, whether a high asset divorce or one of more modest means, was morally unacceptable. Of course, this has changed over the years. Now, nearly two-thirds of all Americans are okay with people having gone through a divorce.