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Do wealthy people face unique issues in a divorce?

A recent article suggested that not only do ultra-wealthy people have more money than the average person, they also face some unique issues pertaining to matters of family law. According to the report, a divorce can lead to the utter derailment of a wealthy couple's family legacy plan. Apparently, even when both spouses wish to hold the best interest of their whole family at heart, complications and battles sometimes arise during divorce proceedings. Alabama residents may wish to take note of the information provided in the article if they, or someone they know, is currently considering filing for divorce.

A panel comprised of professionals from various backgrounds and perspectives, including a psychologist and a family law specialist, recently agreed to be interviewed to discuss some of the issues that seem to be unique to super-wealthy spouses entering into divorce. One of the discussion participants said that it is crucial to set up a task force with a legal team at its center in order to lead wealthy couples through the process. She stated further that if the couple has children, a psychologist should be made a member of the task force as well.

The valuation and agreed upon distribution of property and other assets can sometimes be complex and complicated for excessively wealthy couples. In order to avoid ugly courtroom battles, feelings of resentment and angry outbursts, the interviewees recommended that each spouse enlist the help of a litigator whom he or she trusts who will strive to reach amicable agreements and a peaceful settlement in the case. Couples were also advised to pay close attention to their children throughout divorce proceedings, as children often experience undue stress and anxiety when their parents are going through such a contentious time.

Custody agreements, future financial statuses, viability of a business and other concerns are apparently common among couples of wealth who are considering a divorce. In Alabama, there are legal professionals available who are experienced in matters of family law. Seeking advice from a competent legal team early on can go a long way in preventing complications and conflicts down the line.

Source: fa-mag.com, "Dealing With Divorce", Russ Alan Prince, May 6, 2015

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