Couples with well-padded bank accounts often have added headaches when going through divorces. High-net worth couples in Florida often have much wealth wrapped up in commodities like stocks. Complications can arise in divorce cases when it comes to the valuation of those commodities. Not only can the process be involved, but those assets can be difficult to quantify.
A businesswoman has taken it upon herself to try to ease the pain of marital breakups. She is the CEO and founder of a website/app that aims to make divorce easier on couples, including high-net worth couples. This may be of help to Florida spouses who are finding going through a divorce to be a miserable experience and who may need assistance organizing their affairs.
There may be a lot of squabbling and fighting among couples who are heading for divorce. But, when it comes to divorce and property division in Florida, does anyone ever really win? It doesn't matter what a couple's net worth may be -- one partner will always believe the other made out like a bandit while he or she got a raw deal. The fact is that divorce can make the financial picture far more clear than it may have been within the marriage, and splitting everything, especially when there is a lot at stake, can take some getting used to on both sides.
Regret can be a big player in a marital split. Making the decision to divorce is never an easy one as it affects not only the couple, but their children and even extended family members and friends. High-net worth couples in Florida may find it even harder to make decisions regarding ending their marriages since so much is on the line financially. The pros and cons must be weighed carefully.
Divorce and its aftermath can be difficult for women, in particular those who, despite decades of evolving gender roles, have allowed their husbands to handle the financial decisions throughout their marriages. In fact, one report noted that 56 percent of married women allow their spouses to do the financial planning and investing. This often results in complications when those marriages end after decades and the women are left trying to rebuild their wealth. Moreover, a Florida spouse who leaves the bulk of the financial burden to her partner may find some unexpected surprises during property division.
While it is likely that both Florida spouses can be aware that they are in an unhappy marriage, it is not always clear to both spouses that divorce is inevitable. When one spouse reaches the decision to end the marriage, there is one important task to complete before moving on to custody discussions, property division and other legal particulars. That task is for one spouse to tell the other that he or she wants a divorce.
The end of a marriage often means the beginning of a long process of negotiations. For high net-worth couples in Florida, this may involve finding creative ways to effectively divide martial assets and keep the details of their settlement as private as possible. Those whose wealth includes a level of notoriety may have difficulty maintaining their privacy. However, one celebrity couple has decided to involve the public in their divorce in a practical way.
As if divorce was not hard enough, now Florida couples have to contend with new alimony laws that may turn the proceedings upside down. Alimony was once a useful tool for negotiating property division and for providing a lesser-earning spouse with some stability in the early years after the divorce. However, the new law removes the incentive for negotiation and may create a rush to court for many couples who have been postponing their divorces.
While going through a divorce, the process may consume a person's thoughts. There is much to consider and plan, including child custody issues and property division. However, one factor many in Florida may neglect to consider is the how the divorce will affect their health insurance coverage. While health insurance is not considered an asset to be divided, some may mistakenly think they can continue on their spouses' policies, and this may leave them dangerously unprotected.
When couples with ties to show business fail to sign prenuptial agreements, few are surprised if the couples end up facing tumultuous divorces. Pre and postnuptial agreements allow high net worth couples to settle matters more easily because many issues are already covered in the written agreement. For one power couple who seems to be heading toward a divorce, the terms of a postnuptial agreement may be only a starting point.