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Factors Influencing the Length of Divorce
When a couple decides to divorce, the length of the process can vary depending on a number of factors. For couples with high net worths, these factors can include the amount and complexity of their assets, as well as how contentious the proceedings become. Read on to learn some of the factors that can influence how long a high net worth divorce takes.
Asset Division
When it comes to divorce, asset division can be one of the most complex and time-consuming aspects. And when high net worth individuals are involved, the process can take even longer.
For example, in order to fairly divide assets, it is often necessary to hire experts to appraise them. This can be a lengthy and expensive process. Additionally, some assets, such as businesses or real estate, may be more difficult to divide than others.
Cooperation Between Spouses
The length of a high net worth divorce can be greatly influenced by the cooperation between spouses. If both parties are willing to work together and communicate openly, the divorce process will generally be much quicker than if there is conflict between the two sides.
It's important to remember that every divorce is different, and there is no one-size-fits-all answer when it comes to how long it will take. However, if you and your spouse are able to cooperate with each other in as many areas as possible, it can make a big difference in the length of time it takes to reach a settlement.
The Presence of a Prenuptial or Postnuptial Agreement
The length of a high net worth divorce process can be influenced by the presence of a prenuptial or postnuptial agreement. Because of the number of assets involved in this type of divorce, it's common to see some type of marital agreement in place to make issues such as asset division less complicated. If, however, there is no such agreement in place, the divorce may take longer as the couple will need to determine how to divide their assets.
The Presence of Children
If there are children involved in the divorce, then the length of the divorce may increase. This is because child custody and child support can be complicated topics to tackle. Child custody battles can be messy and drawn-out, which could lengthen the overall divorce process. In addition, if one parent wants to move out of state with the children, this could also add more time to the length of the divorce proceedings.
The Tension Present Between Spouses
The length of a high net worth divorce is often prolonged due to the tension that exists between the spouses. This tension can be caused by a number of factors, including:
Disagreements over money and assets
Differing opinions on child custody and visitation
Feelings of betrayal and resentment
If the spouses are unable to resolve their differences, the divorce process can drag on for months or even years. In some cases, the length of a high net worth divorce may even exceed the length of a traditional divorce.
The Importance of a High Net Worth Divorce Attorney
When it comes to divorce, there is no one-size-fits-all answer. The length of time it takes to finalize a divorce depends on many factors, including the complexity of your financial situation and whether you and your spouse can agree on the terms of your separation.
If you have a high net worth, the stakes are even higher. A high asset divorce can quickly become complex and contentious, which is why it's so important to have an experienced attorney on your side. At Ford & Friedman, our team of high net worth divorce attorneys can help reduce the complexity of divorce and get you started on the path that is best for you. We will work to protect your best interests and defend your rights to the property you have worked so hard to earn and maintain.
Learn more about high net worth divorce or schedule a consultation by calling us at (702) 904-9898 or by visiting us online.