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High Asset Divorce Archives

Prenups, property division and high asset divorce

Whether you are planning on getting married or are already in the middle of a divorce, prenuptial agreements could affect you and your partner in various ways. At the law offices of Kajko, Weisman & Colasanti, we know how stressful this can be for people in Massachusetts, from Boston to all other cities in the state. Furthermore, this can be especially true for those with a high net worth.

Working through a high asset divorce

For people from all backgrounds, splitting up with a marital partner can be challenging on numerous fronts. Not only does divorce often create stress and emotional pain, but it can result in financial setbacks, disagreements over child custody and other matters. If you have a high net worth, working through divorce can be especially complicated and it is important for you to understand which steps can be taken to protect yourself. At Kajko, Weisman & Colasanti, LLP, our law firm is very familiar with the ways that people in Boston and across Massachusetts may be affected by a high asset divorce.

Why divorce can take more time than you think

When people read about a celebrity divorce or talk to their friends who are going through a divorce, there can be the expectation that a divorce is a single event: you file the paperwork and the divorce is granted. However, in reality, a divorce can take longer than you anticipate because it requires much more than signing some documents.

What you should know about temporary support

If you are getting divorced, your status and circumstances won't just change overnight. There can be a significant chunk of time between the time divorce papers are filed and the day your divorce is finalized. This period of time can be quite lengthy in high-asset or high-profile divorces because there is often a considerable amount of complex details to resolve.

Try to plan ahead if you are thinking about divorce

Sometimes, a spouse can spring divorce on the other person out of nowhere. Other times, divorce has been on a person's mind for a long time. In the second situation, those who have been considering divorce for a while should think about getting prepared in case the idea becomes a reality. This is especially important when valuable or high net worth assets are at stake. Unfortunately, in many Boston divorces involving wealth one spouse may attempt to hide property or money from the other. Thinking ahead can help you avoid becoming a victim during a high asset divorce.

Billionaire Elon Musk and second wife to divorce for second time

In 2015, Elon Musk was number 94 on Forbes Magazine's list of The World's Billionaires. At that time, Musk's estimated net worth topped $13 billion as the self-made mogul focused his energies on investing in electronic motor vehicles and space exploration. More recently, the father of five has been back in the news after his second and current wife, Talulah Riley, filed for divorce.

Will your postnuptial agreement hold up in court?

Most people are familiar with the legal document known as a prenuptial agreement. While previously believed to only be a necessity for individuals and couples of significant wealth, today more people are choosing to take steps to guard against a betrothed's financial liabilities and protect the assets they bring to a marriage.

The importance of correctly valuing investment accounts in a divorce

In addition to a family home and real estate, investment accounts—including those related to retirement, are often among an individual's and couple's biggest assets. It's important, therefore, that individuals who are planning or going through a divorce understand issues that may affect the division and value of their investment accounts.

What happens when business partners divorce?

According to the Small Business Association, small businesses account for roughly 54 percent of total U.S. sales and employ 55 percent of the U.S. workforce. Many entrepreneurs spend years sacrificing and working hard to grow their businesses. For those business owners who are married, a spouse may play the role of business partner, executive or financial investor.

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