One of the most interesting things about the United States is the fact that each state has the freedom to approach divorce in its own unique way. Laws and regulations can vary tremendously from one end of the nation to the other. With these differences in mind, it should come as no surprise that some…
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Most financial experts agree that if spouses are trying to protect their assets from the potential negative consequences of a divorce, one of the best decisions is to set up a trust. However, not all trusts are created equal. How a trust is drafted has an enormous impact on the level of protection it offers…
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When one spouse cannot access assets during a divorce, it may lead to significant disputes. Offshore bank accounts are increasingly common these days, especially among individuals with especially high net worths. If one spouse is aware that assets are being concealed or “protected” in an offshore account, it may lead to significant disputes during the…
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Many couples these days invest significant amounts of money into stocks, dividends, and other financial products. But what happens during a divorce? In the case of high net worth divorces, spouses may have millions of dollars tied up in various investments. Most of the time, spouses want to wrap up their divorces and move on…
DetailsDivorce attorneys have probably heard every trick in the book when it comes to couples trying to hide assets during a split. Sometimes, the ideas that seem the simplest are actually surprisingly effective. In the age of digital banking and online records, many spouses might overlook the possibility of their ex simply hiding large amounts…
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Among the financial assets that can go through a divorce, life insurance may be easy to miss. Throughout the COVID-19 pandemic, these policies are coming into greater focus as divorcing spouses prepare for the unexpected. Depending on the situation, you can handle life insurance in the following ways: Policies can remain in effect to…
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Studies have shown that couples are extremely likely to divorce because of financial reasons. Aside from arguments about sex, money issues represent the number-one reason couples decide to divorce. Almost inevitably, these couples are struggling with serious debt while they are in the process of a divorce, which is why oftentimes divorce becomes bankruptcy.…
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If you look just at financial statements for a business involved in a divorce, you might not see where all of the parties’ money goes. To get a clearer picture, you may need to determine whether they pay for expenses in cash or charge any personal expenditures to the business. As you dig deeper,…
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