As a couple in Massachusetts dealing with high assets, you are going to face unique problems that couples without the same amount of assets won’t necessarily face. Knowing and understanding these issues before they potentially become a problem is important for the success of your divorce and how smoothly it can proceed.
For example, one of the big issues that high asset divorcees face is the possibility of a spouse attempting to hide assets during the division process. This can be done for many reasons and in many ways. For example, a spouse who wishes to spite their partner may start buying expensive electronics, collectibles and so on to transfer their money into with the intent of selling them later. Someone who believes they are being ripped off may work together with a family member to “pay off” debts that the other person will return to them once the divorce is finalized.
Even without the possibility of someone trying to hide assets, dealing with a large number during a divorce can still cause problems. For example, high asset divorcing couples often have trouble avoiding litigation. Many people simply find it difficult or even impossible to reach agreements on how they want every single asset to be split, which is unfortunately a requirement if you are trying to achieve an uncontested divorce.
If you are interested in reading more about the unique hurdles that divorcees may face if they have high assets, consider taking a look at our web page on high net worth divorce, linked here. You can learn more.