As you prepare to walk through the process of divorce, you likely have serious concerns regarding your financial future. This is a normal concern for every Georgia reader who is considering this step, but it is especially true when it is a high-asset divorce. High-asset divorces are often high-stress and high-conflict divorces, yet it is still possible for you to effectively protect your interests.
Because divorce requires the examinations of many areas of your life and your spouse's life, the process can take time if you hope to ensure that you have not overlooked important details. Though the idea of finishing the process quickly may seem more appealing, the possibility exists that you could end up with outcomes that seem less than satisfactory if you make hasty decisions. When you must deal with complex assets, the chance for potential mistakes could increase.
When going through divorce, every asset matters. Whether the property falls into marital or separate property categories, you must still report the assets in order to ensure that division proceedings move along as necessary. However, if you and your spouse have a complex financial situation due to considerable assets, you may worry about getting your fair share when it comes time to divide those assets.
Divorce may be one of the least pleasant things you will ever have to go through. With so much at stake, you are probably feeling overwhelmed. Whether you are the one who requested the divorce, whether you have seen it coming for a while now, or even if you were blindsided by the divorce request, you are doubtless feeling unsettled and anxious.
It is tough enough to go through a divorce when you have few assets to divide one can only imagine what is required when there are a great many assets to be divided. Normally properties owned by either person before the marriage stay with that person. In Georgia nearly everything acquired during the marriage is community property and must be divided at divorce. But getting a divorce should not financially destroy you, by any means.
As unfortunate as it is, divorce is rarely a pleasant experience, and things rarely work out as easy as they should. In nearly every divorce case there will be battles over who deserves how much money or what kind of custody arrangement is fair to all parties. It may not surprise you to learn that the more that is at stake in a divorce, the more heated the divorce proceedings can become, as both parties want even larger pieces of the proverbial pie.
It is true that money isn’t everything, but almost everyone would agree that being wealthy is nice. Being able to buy nice, expensive things can certainly make life easier and more enjoyable for a lot of people, and wealthy, high-net worth individuals always tend to host the best events. One of the more popular ways to show off affluence is by having an extravagant wedding, but a recent study indicates that and expensive wedding does not necessarily mean happily ever after.
Almost everyone in the world wants to have more money, and with good reason. A large amount of wealth can be a blessing in terms of not wanting for material possessions, but in some instances it can also be a curse. One of those instances is divorce. The fact of the matter is that in a divorce, assets will be divided, and the more you have, the more you have to lose.
NBA point guard Raymond Felton is currently involved in a divorce with his wife of 19 months. While their marital split is currently unfolding in New York, Georgia residents, and especially those who have lived in numerous states, may be interested in how the laws in each state can lead to different divorce outcomes.
If the name Frank and Jamie McCourt don't sound familiar to the people of Georgia, their baseball team certainly does: the Dodgers. The former owner of the Dodgers is heading back to court after his wife has accused him of hiding assets in the January 2012 divorce. She agreed to take only $131 million in a divorce settlement because she only believed her ex-husband's assets totaled $300 million, according to her post-divorce lawsuit. Since his sale of the Dodgers for $2.1 billion in March 2012, Jamie has learned that he had far greater assets than she originally knew about.