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Stakes are high in high-asset divorces

| Jan 23, 2017 | Firm News, High Asset Divorce

It is said that money can’t buy happiness; it can, however, lead to some ugly disputes. This can certainly be the case when it comes to divorce and dividing up assets. While this process may never be considered “easy,” it can be particularly combative and contentious when there is a lot of money at stake.

High-asset divorces can be so thorny because every decision and concession could prove to be expensive. This is why these battles often take so long to resolve. For instance, one former couple is still locked in a dispute over money despite getting divorced last year. At the center of the dispute is over $400,000 per month in assets and maintenance.

The former couple was reportedly worth several millions of dollars, as the ex-husband founded or had a role in multiple companies prior to and throughout their marriage. His ex is saying that she played a role in those ventures and deserves to reap some of the rewards to the tune of $400,000 per month in maintenance.

This is apparently the main sticking point. Did the ex-wife play a more significant role in growing the businesses than she is getting credit for? Or were her efforts in business matters less significant?

Not surprisingly, the couple had a prenuptial agreement in place, which could have made things easier to sort out. However, the agreement stated that spousal maintenance and other financial matters could be negotiated if the marriage lasted longer than seven years. The couple was married for 25 years.

This is just one example of the various issues that routinely demand attention in high-asset divorces across Arkansas. There may be complex business valuations to sort out, lifestyle considerations to make and financial contributions to unravel.

If you are considering divorce, or if your spouse is going to file for divorce, and there are substantial assets at stake, you need to protect yourself and your financial future. Before you sign anything or agree to anything, it can be critical that you talk to your lawyer and figure out the best way to secure a fair settlement.

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