Many readers in Massachusetts know that there are several issues that need to be negotiated as a couple enters the divorce process. These include child related matters for parents, spousal maintenance and the division of assets. For those with high amounts of wealth, the divorce negotiations can be contentious as soon-to-be former spouses seek to determine just who will own the property that was obtained during a marriage.
In one recent high-asset divorce case, a high profile couple announced that they were planning to end their marriage in divorce. The two were fixtures on the social scene in their hometown. In fact, they attended events, including one at the White House with Bill and Hillary Clinton.
Now they are seeking to enter into negotiations to divide their assets. These likely include their family home. In her Facebook post announcing the impending divorce, the wife implied that she intended to stay in the home with the couple's two sons.
The details of this high value divorce are few at this early stage. However, like similar cases in Massachusetts, the couple in this case will negotiate a division of their assets and issues such as child custody and spousal maintenance. To ensure that a fair outcome is reached, each of those entering into such negotiations may wish to complete a full review of the financial life of the separating spouses so as to understand exactly what assets are available for division during the divorce process. It should be noted that if a couple in our state or elsewhere cannot agree during such divorce discussions, a court can be asked to step in and decide the final outcome of all matters necessary.
Source: Dallas Morning News, "Divorce: Dallas museum director Maxwell Anderson and the flamboyant Jacqueline Buckingham," Christopher Wynn, April 9, 2013