If you have a lot to lose in a divorce, you may be thinking you don't need one. After all, people can change, and that may include your own doubts about a spouse. In case that is not how things work out, though, it never hurts to be emotionally and legally prepared.
It's natural to be a little concerned about an upcoming marriage. Tension is so normal that "cold feet" and other expressions show its role in society. Patience and self-awareness can help people get through this phase, and communication with a future spouse is essential as well.
When people who have developed extensive and valuable collections of art, real estate or other items decide to divorce, the fate of these assets may hang in the balance. High-profile couples in the real estate and art world have moved toward divorce, leading to hundreds of millions of dollars of prized art pieces at stake. One divorce between two major real estate investors involves $800 million of art while another pair of collectors' hundreds of millions in art has led to serious delays in finalizing the end of their marriage. In the latter case, the couple remains far apart on reaching a settlement on property division.
Dividing assets is a huge part of the process that North Carolina couples go through when getting a divorce, especially if it is a high-asset divorce. It is important to understand the value of an asset before it can be divided fairly. One of the most difficult assets to value is a pension plan. Here are basic principles that apply to dividing pension plans in a divorce.
Cryptocurrency has been available to those living in North Carolina and elsewhere since 2009 when Bitcoin was introduced. However, digital currencies are now getting more time in the spotlight as they have increased in value and have gotten more attention from the media. For couples who are going through the divorce process, valuing a digital coin can be a contentious issue. It can also be tempting for an individual to sell or hide the asset from a spouse.
High-asset divorces in North Carolina and around the country often involve spouses with complex compensation packages, which can add an extra layer of complexity to property division and alimony negotiations. Disputes can arise over whether income that is prepaid, deferred or subject to clawback provisions should be considered marital property or included when calculating income for alimony purposes, and people who do not pay attention to these matters may find that large amounts of money are either counted twice or not counted at all.
North Carolina business owners who decide to divorce may face unique complications and concerns. In many cases, spouses worked together in a number of different ways to build a family business. Determining how to divide a business in an equitable way that satisfies both spouses can be a lengthy process. In order to divide a family business, each spouse should seriously consider their future plans for the company.
Cryptocurrency may be an asset in the divorce of some couples in North Carolina. While the currency is only about 10 years old, it has become more mainstream, and in the years ahead, it may increasingly become a tool for people to hide assets. The Global Blockchain Business Council found that only 5 percent of Americans surveyed said they owned cryptocurrency, but more than 20 percent said they were considering purchasing some.
There are steps that high-asset couples in North Carolina who are ending their marriage can take to make the process less difficult. The world's richest man, Jeff Bezos, exemplifies this in the statement he released with his wife about their impending divorce that emphasizes cooperation.
Since the 1990s, the divorce rate for men and women 50 years old and older has doubled. North Carolina women who are over the age of 50 and who get a divorce may face an uncertain financial situation after their divorce. According to a report issued by the UBS Global Wealth Management, 56 percent of married women allow their husbands to handle long-term financial decisions, so they can be financial vulnerable.