On behalf of Kelly Law Office, LLC posted in high-asset divorce on Tuesday, April 16, 2019.
Ohio residents and others have likely heard that Amazon founder Jeff Bezos recently finalized his divorce. Although most divorces don’t garner as much publicity as his did, there are many lessons that people can learn from his experience. For instance, it is important to create and control a divorce narrative. This can be especially important for those who have children or who otherwise want their marriages to end as smoothly as possible.
It is important to note that individuals are allowed to disagree or have mixed feelings about their former spouses in private. However, a unified public front may help a former couple work through the divorce process in a civil manner. To further keep a divorce process civil, it may be worthwhile to consider using a mediator or going through a collaborative divorce. This enables both parties to the marriage to work together to solve problems instead of aiming to win a battle.
It is important to have a team of professionals to help create a favorable settlement. These professionals may include an attorney, a financial analyst and a therapist. These people can help an individual manage his or her emotions as well as determine whether an asset is worth asking for in a settlement. Financial analysts may help a person learn more about how to value an asset or the tax implications of accepting it.
Assets such as a 401(k), a marital home or a dining room set could all be divided in a divorce. However, assets that were acquired with separate funds or were gifted to an individual may not be considered marital property. An attorney might review a case to determine the proper classification of an item. This may help an individual maintain a reasonable lifestyle after a marriage ends.