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high asset divorce Archives

What causes you to lose assets in a divorce?

When you and your spouse are preparing to get a divorce in Missouri, there are many important decisions that will need to be made in regards to your future. One of the most challenging parts of divorcing your spouse is having to decide how all of the assets that you have shared throughout the course of your marriage, will be split. More often than not, you will probably have to be flexible because you will not always get everything you desire. Being aware of what mistakes can limit your chances of getting awarded your fair share of the assets is important so you can avoid them. 

What are the penalties for hiding assets in a divorce?

For divorcing couples in St. Charles, dividing assets can be challenging. This is especially true when one spouse tries to hide assets from the other in an attempt to retain marital property that should be divvied up according to the law. Not only is this practice unethical it’s also illegal and subject to serious consequences, as explained by Forbes.

Is my spouse hiding assets?

For couples going through a divorce in Missouri, disclosure of all assets is required by law. However, it’s not uncommon for spouses to hide assets from each other in an attempt to come out the process a little better off. Forbes explains how assets are commonly hidden and how you can track them down during your divorce.

Who gets the artwork in a divorce?

If you were to find yourself working through a divorce in St. Charles County, Missouri, you might find yourself with a considerable number of surprises. From moving targets of case law regarding child custody to the invasiveness of discovery, there are plenty of things that could frustrate you during the process. Not the least of these involve a specific issue of property division: the allocation of artworks.

Bitcoin: hiding assets the electronic way

At Turken & Porzenski, LLC, we know that some Missouri spouses attempt to hide assets when facing a divorce. This is particularly popular among high-asset spouses who use various methodologies to accomplish their purposes. The only thing new about asset hiding today is the technology available to do it. Have you heard about Bitcoin?

How do you handle offshore accounts during divorce?

Just because you live in St. Charles County does not mean that all of your assets are limited to the local area. You might have holdings throughout the state of Missouri, business interests throughout the USA and even accounts offshore. Dividing these complicated assets during a divorce would require care and discretion from everyone involved in the process: yourself, your accountants, your attorneys, your spouse and so forth.

What assets must be identified in my divorce?

If you are going through a high-asset divorce in Missouri, taking inventory of your assets should be placed high upon your must-do list. While you may not feel the need to tackle this task immediately upon filing, memory can fade in regard to everything that should be considered and oversights can result in costly mistakes down the road.

How do I deal with a difficult spouse in a high-asset divorce?

One thing that divorce is often not in high-asset couplings in the St. Charles area is amicable. More money, assets and property often mean more problems. When emotions are involved, the stakes are higher, and the situation becomes highly complex. It is not uncommon for separating couples to let their feelings about their failed relationships take center stage and use them to delay and cause problems during their divorces. 

The emotional toll of ending a marriage with a high net worth

For those with a high net worth, ending a marriage can be challenging for diverse reasons. Often, people preparing for these divorces have more at stake and they may be especially worried about the financial consequences of divorce. However, there are times when moving on becomes necessary and people should not feel trapped due to worries about finances. The divorce process can have an emotional toll on people in this position in other ways as well. For example, they may be affected from an emotional point of view and, as a result, encounter difficulties involving work. If you are getting ready to end your marriage, you should keep these factors in mind as you move ahead.

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St. Charles, MO 63301

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