Following the news of the recent split of Angelina Jolie and Brad Pitt, many people in New Hampshire are wondering about the division of assets in a divorce. Depending on a family’s individual situation, a high asset divorce can be complicated, potentially lasting for a great deal of time and requiring a team of experts to work out the details. While such divorces are often portrayed as acrimonious, many couples are able to peacefully work though the details of their finances to determine how their assets will be divided.
Some situations are less complex than others. For example, if there are no children involved, it may be easier to divide assets. However, in a situation where a couple has a $12 million estate, half of which is tied up in real estate, and three children with a parent who stays at home, the situation can be more complicated. Likewise, if one spouse helped the other build a business but did not go to the office every day and did not have his or her name listed, he or she will likely want to ensure a fair division.
While a collaborative divorce may be helpful in a variety of different scenarios, it could be especially useful in a high asset divorce with complicated circumstances. In this process, several advisers, including financial, legal and child specialists, work together to come to a peaceful resolution. This process allows greater flexibility and allows professionals enough time to ensure they fully understand the scope of the family’s situations.
Each New Hampshire family’s situation is unique and may require an attorney with experience with family law to fully resolve issues regarding a couple’s finances. While a high asset divorce has the potential for conflict, couples who are committed to peacefully dividing their assets are often able to put aside their differences, allowing them to maintain their relationship for the sake of their children. However, they each likely want to ensure that they fully understand their finances to ensure a fair distribution.
Source: The New York Times, “How Rich Couples Who Aren’t Pitt and Jolie Manage Their Divorces“, Paul Sullivan, Sept. 30, 2016