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High Asset Divorce Archives

Amicable high net worth divorce is possible

When Amazon founder, Jeff Bezos, and his wife, Mackenzie, announced they were divorcing after more than 20 years of marriage, it may have been expected that the division would be protracted and bitter. Surprisingly, the couple were able to obtain their high net worth divorce in an amicable manner. Texas residents who may be contemplating filing their own complex divorce may find that their own dissolution could be obtained without undue fighting.

Some may consider a high net worth divorce for tax purposes

When Congress passed the latest tax reforms in 2017, there were many changes that impacted people across the tax brackets. Though many of the changes may have been beneficial for some taxpayers, others discovered that they were facing significant increases in their tax bills. Some Texas residents may be considering the merits of a high net worth divorce in order to realize some tax relief. 

There are ways to reduce tax burdens in high net worth divorce

For approximately 70 years, the alimony tax deduction helped families reduce taxes after a divorce. With the tax reform act that went into effect at the beginning of 2019, the option for deducting alimony payments from taxable income for the paying spouse was eliminated. In light of this change, there are other ways Texas residents can help reduce their tax burdens after a high net worth divorce.

High net worth divorce parties benefit from 3 practical points

The process of blending two lives in marriage requires patience and a period of adjustment. However, the process of obtaining a divorce is often much more complex, especially when it's a high net worth divorce. Texas residents who are contemplating this step may keep three practical points in mind.

Strong economy boosts increase in high net worth divorce filings

When the economy is floundering, many unhappy couples are more willing to tough it out, rather than divide limited resources. However, when the economy is experiencing an upswing, unhappy spouses are more inclined to file for divorce. Texas residents who are contemplating a high net worth divorce may benefit from professional advice when seeking to divide some of their valuable collections.

4 Key lessons for a high net worth 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. 

The world of digital money may make a complex divorce trickier

For most couples, a divorce is a fairly straightforward undertaking. Once custody and property division is settled, each individual goes his or her separate way and starts a new life without undo complications. However, in the new age of digital money, wealthy Texas residents may find that cryptocurrency adds complexities to an already complex divorce.

De Niro's ex looking to make actor take complex divorce public

It was recently reported that the publicity-shy actor, Robert De Niro, and his long-time wife, Grace Hightower, want to end their 20-plus year union. De Niro filed the petition anonymously in order to avoid public notice. In Texas and across the country, whenever high-profile couples seek a complex divorce, it's often difficult to avoid public scrutiny. 

Impact of lottery win on a complex divorce

Since Texas is a community property state, divorce courts typically divide most marital assets evenly between the spouses. This means that, with a few exceptions, any assets or funds the spouses acquire while they are married are on the table during the divorce unless the couple had a premarital agreement saying otherwise. Many spouses find their retirement funds, businesses and hard-earned money split in half during a complex divorce.

Reaching goals in a complex divorce

Support and guidance are essential for most Texas residents who are contemplating divorce. While the average divorce does require a variety of issues to be negotiated, a complex divorce can involve extensive assets, liabilities and other items that need to be taken into consideration. The choice of legal representation can be instrumental in navigating the process.

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