High-asset divorce is becoming increasingly common

On Behalf of | May 13, 2024 | High-asset Divorce |

High-asset divorce refers to a divorce where the couple has substantial wealth, property, investments or other valuable assets. This type of divorce is more common than many people realize.

A high-asset divorce can have significant financial and emotional implications for both parties involved. It is important for those ending their marriage with a high net worth to remember that they are not alone.

Real estate, stocks and other assets

One of the main reasons high-asset divorces are becoming more common is the increasing number of wealthy individuals in society. With the rise of successful entrepreneurs, executives and professionals, many couples accumulate substantial assets over the course of their marriage. These assets can include real estate, businesses, stocks, retirement accounts and valuable personal property. This can make the divorce process more complicated and contentious.

In addition to the complexity of dividing assets, high-asset divorces often involve intricate financial arrangements and legal considerations. For example, determining the value of a business or investment portfolio can be challenging. Sometimes, disagreements over the division of these assets can lead to lengthy court battles.

Changing norms

The Centers for Disease Control and Prevention says that over 673,000 couples ended their marriage in 2022. As societal norms evolve, more couples are choosing to prioritize their careers and financial success over traditional family values. This can lead to marriages where both partners have substantial assets of their own. In addition to legal fees and court costs, the division of assets can result in substantial financial losses for one or both spouses. This can be especially challenging for individuals who have become accustomed to a certain lifestyle during their marriage and may struggle to adjust to a new financial reality post-divorce.

By understanding the complexities of high-asset divorces and taking proactive steps to protect their interests, people can navigate the divorce process more effectively and secure their financial future.