Going through a divorce is an emotionally taxing process, but it can also be incredibly complicated and confusing. If you have important or high-value assets, the divorce process can be made even worse. People with high assets may often find that their situations are unique and come with additional, unexpected challenges that can make the divorce process more difficult, time-consuming and stressful.
What Assets Can Make My Divorce More Challenging?
In most divorces, figuring out child custody and dividing property is enough work in itself even thought these are considered common issues in divorce. However, some people have more unique and complex assets that can create additional stress and problems during the process. These assets can include but are not limited to:
- Stocks and bonds
- Significant inheritances
- Additional real estate (such as vacation homes or business property)
- Pensions and other savings accounts
- Hidden assets or offshore accounts
- Small businesses or family companies
When these assets are involved, the divorce process can become much more complicated and more time consuming and expensive. However, there are a few potential alternatives to a traditional, litigated and lengthy divorce that can help people navigate this experience more successfully.
What Can I Do?
There are a few alternatives to divorce that can make dividing high-value and complex assets much more manageable and less stressful. Mediation and collaborative law can help you and your spouse reach a settlement more quickly and efficiently.
Mediation allows you to have more control over the process and is often considered more peaceful and less contentious than traditional litigation. A mediator can help you come to an agreement that works for both parties.
Collaborative law is another method that is considered less contentious but allows for more input and a team approach to divorce settlement. Collaborative law usually involves neutral specialists as well as family law attorneys which gives each person more guidance and professional help which can be beneficial when high-value assets are involved.
Speaking with an experienced divorce attorney can help you make an informed decision that is right for you. While it is difficult to avoid all stress and challenges during divorce, especially when important assets are involved, there are several ways you can make the process easier everyone involved.