For many couples walking through divorce, finances and property division are some of the most hotly contested issues to navigate. This can be particularly true for couples with a significant amount of wealth or valuable assets. When there is more at stake, there are often stronger feelings regarding what happens to marital property in California divorces.
Interestingly, there is reason to believe that couples with more than $5 million are actually more likely to have amicable divorces. Regardless of the amount of money a couple has or the value of the assets at stake, what happens in a divorce will have an impact on the futures of both parties. Whether you are facing a high-asset divorce or not, it can be helpful to understand why amicable negotiation can be beneficial for everyone.
More money, fewer problems?
When you read about the divorces of celebrities or sports stars, you often see headlines about court battles over millions of dollars. You may assume that a higher amount of wealth will lead to a higher likelihood of a contentious divorce, but that is not always the case. There is evidence that couples with $5 million or more are actually less likely to fight over money in their divorce. Consider the following:
- With an amount of money less than $5 million, either party is not necessarily set for life. For these couples, it could be worthwhile to fight hard over every penny.
- Likewise, couples with more than $5 million have the financial flexibility to negotiate property division terms without significant money battles.
- When the extremely wealthy fight they often do so through mediators, attorneys and others who help them come to reasonable resolutions.
It is interesting to consider how the extremely wealthy and the upper middle class navigate divorce, but it is more important to consider how your choices in divorce will affect your financial future. No matter how much money is on the line, you have the right to seek an outcome that allows you security and stability well into the future.
Long-term security after divorce
The end of a marriage will bring significant financial changes for both parties. It is prudent to proceed with your best interests in mind, not necessarily allowing your temporary emotions to drive your decisions. It may be helpful for you to start with a complete evaluation of your case in order to understand how you can pursue a final order that is fair and allows you to have a positive post-divorce future.