When a Rich Couple Splits Up, It’s Important to Hire a Divorce Attorney?
There are many reasons why a rich couple may decide to split up. One couple split up with $61 billion in Amazon stock. Another split up with a high school teacher. While most wealthy couples choose to fight the divorce, there are ways to make the process go as smoothly as possible. In this article, we’ll talk about alimony deductions, dividing assets fairly, and negotiating agreements.
For nearly 70 years, the alimony deduction has been a cornerstone of divorce planning strategies. This tax deduction helps the payor shift his or her taxable income to the recipient’s spouse. In this way, the couple can save on their overall tax bill. However, there is a caveat: alimony payments must be made after the physical separation of the parties.
Dividing Assets Equitably
While a divorce lawyer can make the process easier, you still need to divide assets fairly. Generally, a judge must approve the agreement dividing the couple’s assets, and if one spouse receives dramatically less than the other, the judge may not approve it. If both parties have lawyers on their side, however, the judge may be more likely to approve the division.
When a rich couple splits up, it’s important to hire a divorce attorney who specializes in negotiating agreements between the couple. This type of divorce settlement can help a couple avoid a long and traumatic court battle. This is especially beneficial if the couple has children. Children don’t want to go through a long court case.
Negotiating With A Dominant Parent Or Sibling
A divorce is an emotional event for everyone, but it is especially painful for children. Their lives have been upended by separation, and they need both parents to help them move on. Children also need both parents to provide a secure relationship. Educating yourself about your options can help you negotiate with your spouse and children in a more amicable manner.
Dividing Property Equitably In A Divorce Agreement
Divorce agreements generally require the parties to divide their property equitably. This doesn’t mean that each spouse will receive an equal share of the marital estate; it means that the court will assign each partner a percentage of the value of the marital estate. To arrive at an equitable division, both spouses will need to agree on a formula to divide their assets.