When super-wealthy couples get divorced, the legal process is usually much different than with couples who have a normal amount of money. One main differences has to do with the types of assets they possess. Billionaires from New York to California often have huge sums of money tied up in stocks from companies they’ve owned or in which they’ve invested. This makes asset division particularly difficult. While the specifics of many of these divorces are kept private, attorneys have shared information about how things work in general.
In addition to stocks, the super wealthy often own rare and expensive items like artwork, antiques, pop culture collectibles, instruments, and jewelry. Assigning specific values to all these items can be a long and arduous process. There’s also the issue of overseas bank accounts and investments. Dividing these assets is made all the more difficult due to different jurisdictions having different divorce laws as the super wealthy may have residences all over the world.
Highly valuable assets are at stake in these types of divorces, and this can cause parties to act unfairly or deviously to maintain as much of their wealth as possible. In some cases, one partner will attempt to hide assets in overseas accounts or through complicated structuring. This may be less common with couples that are in the public eye.
Ending a marriage can often be a difficult process regardless of how prominent a couple is. People who are in this position might find it advisable to try and negotiate a settlement agreement with the assistance of their respective attorneys.
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