Most Florida couples reach a point in their divorce when they accept the end of the marriage and begin to focus on their futures as single people. That, however, is not always the case, as evidenced by a high asset divorce in which the parties remain deeply mired in bitterness and anger even after their divorce was made final. It's hard to imagine why two people in their 60s and 70s would choose to continue to fight when they divided assets worth nearly $2.5 billion.
With the recent tragic loss of two high profile personalities, many in Florida are talking about estate planning and divorce. Both Kate Spade and Anthony Bourdain were separated from their spouses, but not yet divorced. While there is no way to know why either Spade or Bourdain chose to delay a high asset divorce, what is clear is that in doing so they complicated their estate planning.
For those in Florida who are preparing to divorce, working out a fair division of marital wealth is often a top priority. That is true regardless of the extent of marital wealth, but for those who have significant assets, reaching a settlement can be far more complicated. A recently published article takes a look at some of the most expensive high asset divorce cases in history.
Some Florida readers will remember the highly contentious divorce between Johnny Depp and Amber Heard. The couple made headlines amid accusations of domestic violence and blackmail. After a brief period of very public turmoil, the parties reached a settlement in their high asset divorce. After multiple accusations that she was trying to profit from her brief marriage, Amber Heard announced that she would be donating the proceeds from her settlement to charity.
Many wealthy couples purchase art, expensive furnishings or other one-of-a-kind items during their marriage. In fact, art is often viewed as a way to not only establish one's position in the highest levels of society, but also as a means of sheltering money from taxes. When a Florida couple is headed for a high asset divorce, art can also serve as a vehicle for concealing wealth.
In the aftermath of a Florida divorce, many people are uncertain about their next steps. That's especially true in regard to finances, and for spouses who allowed their partner to handle most of the family's financial needs. Investing wisely after a high asset divorce can help establish lasting financial stability and should be a top priority. Ideally, spouses will begin planning for investment even before the settlement is signed.
Once a Florida spouse decides to move forward with a divorce, the next step is to secure the services of a divorce attorney. Finding the right attorney is essential to a favorable outcome, especially when it comes to high asset divorce. In many ways, this is a professional relationship that will have just as great an impact on a spouse's life than many of his or her personal relationships.
As disturbing allegations against Hollywood producer Harvey Weinstein continue to pile up, the disgraced mogul is also facing a divorce. While a high asset divorce is probably not the worst of Weinstein's problems of late, it is something he'll have to address in the coming months. It's rumored that his wife of nearly 10 years, Georgina Chapman, is gathering a team of lawyers as she prepares to end the marriage. Florida residents may find it hard to avoid details of both Weinstein's alleged acts and the couple's divorce.
For may Florida couples, the bulk of divorce decisions revolve around the division of marital wealth. That is especially true for couples going through a high asset divorce. When negotiating the details of a property division agreement, be sure to consider the cost of education for shared children.
For many couples, discussing how to divide marital wealth in the event that their marriage fails is hardly a romantic topic. Many couples simply avoid the issue altogether, hoping the subject is one that never deserves their close attention. In cases where a high asset divorce is the eventual outcome, many spouses in Florida will wish that they had better understood the alimony and property division process.