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4 Key lessons for a high net worth divorce

On Behalf of | May 3, 2019 | High Asset Divorce |

When the Bezos’ announced their impending divorce, the story was carried on every news outlet. Though there have been many high net worth divorce filings among the wealthy and newsworthy, this one garnered much attention based on the value of the assets on the line. However, there are four key points from this divorce that may serve any Texas resident. 

A high asset divorce means there is much more at stake than in the average dissolution. As such, a divorcing couple may be tempted to fight for their share during the property division. Instead of preparing for battle, the Bezos’ elected to make a joint public statement announcing their divorce and their desire to seek a future as friendly co-parents. With this in mind, the first step in approaching a divorce is to have a narrative ready. This narrative may prevent the public disclosure of personal issues and prevent friends from having to choose sides.

No matter how amicable a split may be, there will be unexpected challenges. These are little different from what may have derailed the marriage in the beginning and can be overcome with patience. The third point is that a divorce is a taxing process, which takes a toll on one’s emotions and finances. It is recommended that one assemble a team to help facilitate the process. Along with an experienced attorney, the services of a financial adviser and a divorce coach can provide invaluable assistance.

Lastly, if at all possible, selecting a cooperative approach to a high net worth divorce may pay dividends in the end. Avoiding the litigation approach will preserve more assets and reduce the friction and time required to reach an agreeable settlement. No two divorces are the same, and no one approach will work for everyone; but choosing to work together to resolve the issues may work well for many Texas residents. An experienced attorney can assist in reaching the best terms for one’s individual needs.