When a divorce becomes a matter for the courts, the focus invariably shifts from the parting partners to their children, if any, and the wealth they intend to split. Residents of Dallas, Texas, surely have read of many famous divorces whose climax is a lengthy court brawl, with neither party willing to agree on what assets to let go. Since divorces can tend to involve heightened emotions, the onus may very well be on the lawyers, apart from the judge, to deliver an amicable outcome.
In the case of high net worth individuals, if both partners have contributed significantly in terms of the wealth they own during the span of the marriage, the judge may need to examine what they had prior to the marriage, and what the circumstances are likely to be subsequently. Where children are involved, there may be additional concerns relating to their upbringing.
Considering these complications, it is perhaps useful if the impending divorcees have access to pertinent information prior to petitioning for a divorce. One source in this regard is our website, which hosts a number of posts on the issue at hand. Even if there isn’t a directly relevant case mentioned in these pages, one is likely to find some sort of legal avenue.
Beyond the question of how a judge might split a couple’s property lie the steps that either partner may have taken in order to safeguard their interests. It is common for someone who has a significant amount of wealth to want to avoid any potential impoverishment by putting in place a prenuptial agreement.
As emotions run high, it could end up boiling down to the couple no longer wishing to stay married to decide whether to punish the other partner for some deliberate act and creating hostilities. No matter where the couple prefers to take the bitter route, a judge may need to carefully arbitrate the proceedings in order to ensure equitable distribution.