We try to make it a point to not focus too much of our blog attention on the divorces of the rich and famous. They don't tend to reflect the kind of divorce situations that most Minnesota couples are facing. But there are times when aspects of high-profile divorces provide valuable insights into the issues that can arise.
Preparing for property division before the divorce begins
It is all too easy for high-asset couples to make costly financial mistakes during the divorce process. Often times, these mistakes are the result of emotional exhaustion and the desire to move on to quickly. While this is certainly understandable, it is important that Minnesota couples going through a high-asset remember to prepare for the financial side of the divorce. The following is a few pieces of advice on property division for Minnesota couples currently considering a divorce.
Child support and the changing face of divorce
Many of society's views and perceptions of marriage and divorce belong to a world that no longer exists. For one thing, many of the stereotypical gender roles we associate with men and women are no longer applicable. One example is the pending divorce of reality television star Bethenny Frankel. Minnesota couples considering divorce, especially those with female breadwinners, might find the divorce of this high-profile couple to be interesting.
Even rock n' roll legends fall on hard times once in awhile
Divorce is never easy but wealth can make things more complicated. One way to avoid a complicated divorce is to sign a prenuptial. Prenuptial agreements allow couples with complex marital property, such as family-owned businesses, the ability to streamline their divorce proceedings. Unfortunately, many couples do not sign prenuptial agreements. Some Minnesota couples might find the following article on high-asset divorce motivational.
What are considerations to make in a high asset divorce?
Financial security is a big issue for couples facing divorce. With all of life's uncertainties, the effect divorce can have on certain property or assets, such as a family-owned business or a lake home, only adds to these potential obstacles. Fortunately, there are ways to thoughtfully work through a high asset divorce by protecting an individual's assets in order to establish a more comfortable financial future for both parties involved.
Wealthier couples choose divorce over separation more often
A recent study released at the American Sociological Association's annual conference provides a new look at divorce and separation in America. Specifically, the study looks at trends among couples choosing divorce. Despite the findings, Minnesota is unique because it has "legal" separation. In general, however, it appears that even with "legal" separation couples with more money still tend to choose divorce over separation.
Kardashian and Humphries could face complicated divorce
These days it seems like no one can go a single day without being inundated with news about the high-profile divorce between Kim Kardashian and Kris Humphries, professional basketball player and Minnesota native. While their 72-day marriage is fodder for celebrity gossip enthusiasts, there may be some difficult legal issues when determining the terms of their split. This is often the case for Minnesota families dealing with complex asset division.
