Two of the most complex and potentially contentious aspects of a divorce involve money and assets. Finances are often a source of disputes between parties, and the property division process can be particularly complex for couples with a lot of money at stake. When a high-asset divorce involves one or two people who work in executive roles, it is important to understand how this could impact the final divorce order.
What is at stake?
In any divorce, the financial futures of both spouses are at stake, no matter how much money the couple earns or what assets they have. However, property division can be particularly complex when one or both spouses is an executive. Executive compensation can come in different forms, and a California spouse would be wise to seek appropriate division of stock options.
This is in addition to a division of long-term savings, retirement assets and more, as well as spousal maintenance. However, it is critical to consider the potential tax consequences of retaining certain assets or seeking specific benefits, such as stocks. Before agreeing to terms, a spouse should consider both the short-term benefits and potential long-term implications of certain choices.
The future
Any decisions made now are going to matter in the future well after a divorce is final. This is why it can be beneficial to work with a California family law attorney experienced in complex and high-asset divorce cases. Experienced guidance can ensure one makes choices that will prove to be beneficial and practical for years to come.
