Divorce can be sticky wicket. A high-asset divorce involving large amounts of money and other assets can be a very complex and time-consuming process that may not fully end with a final settlement in Ohio. Such is the situation in a case playing out in another state.
Divorce can be a complicated process regardless of the amount of property to be divided between the two parties in Ohio. But when a large amount of wealth is involved, it can be even more complex, especially in the wake of the new tax law that is now fully in force. A high-asset divorce can be impacted in many ways. One of the issues most affected is that of alimony.
America was built on entrepreneurial spirit by people setting out for the new world with the intent of building a new and independent life. That spirit exists today with new businesses coming into existence in Ohio and around the country on an almost daily basis. Few will have the success that Amazon enjoys, a company founded by a married couple who are now involved in a very high-asset divorce. The company was founded after they married and, as such, can be considered community property. How can the value of the property be protected?
Couples heading to matrimony are sometimes advised by well-meaning friends and family to get a prenup. Some may argue they have no intention of ever divorcing, or one may feel there are not enough assets to make a prenup worthwhile. These are just some of the reasons given by people who do not have prenuptial agreements in Ohio. However, one's financial status at the time of a marriage does not preclude the possibility of a high-asset divorce later in life.
Divorce in Ohio is seldom entered into lightly. When significant time has been put into a marriage, there may also be significant assets involved. Dividing these assets can be complicated and time-consuming. This is the situation occurring in a high-asset divorce in another state involving a fortune worth more than $2 billion.