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Complex divorces and your options as a couple

There's no doubt that some divorces can become complex very quickly. While many divorcing couples head to their attorneys with concerns related to custody issues, child support, alimony and property division, some others may face even more complicated decisions. High-end divorce cases usually have disputes over items of higher value. For instance, trusts, bank accounts, inheritances, investments and other financial assets may be part of the marriage and need to be fairly divided.

An attorney well-versed in high-end divorces will understand state laws and the implications of splitting property. It's not as simple as splitting assets in these divorces; these individuals need to consider the tax consequences of taking on or reducing property ownership, and they may want to have properties valued or revalued for the purpose of divorce.

In some of these cases, the couples will have co-mingled their finances over time, sharing portions for the family and spending together, making it harder to see who owns which asset in particular. This can be daunting for couples and can lead to arguments and disputes. Fortunately, there are methods to keeping disputes short and reasonable, so couples can quickly move on with their lives as single individuals.

There are a few options couples have during divorce. Mediation, litigation and settlements may all be possible and available options. For those who can mediate and settle out of court, the divorce may not take as long as if it were to go to court and turn into a litigated case for assets. Any of these options is something to consider discussing with your attorney.

Source: FindLaw, "Complex Divorce Cases," accessed Jan. 15, 2016

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