There are a variety of factors to consider when it comes to splitting up with your spouse, such as the financial impact and how this move may affect your kids (and even your grandchildren). The emotional toll of divorce can be tough, and the financial impact of a divorce should not be overlooked, either—especially for those who have a high net worth. Moreover, more and more people are ending their marriages at an older age, which can bring up additional concerns. However, by taking the correct approach to your divorce, a brighter future may be around the corner.
Sometimes, people feel so overwhelmed by the various stressors they may have to deal with during the divorce process and simply decide to stay in the marriage. For example, they worry about the financial toll of divorce and how their assets may be divided by the court. Moreover, they may worry that various age-related issues they are dealing with, such as health concerns, will make it especially hard for them to deal with divorce at this time.
Those who feel as if a high-asset divorce would be too demanding may benefit from carefully considering all their options. They may be able to end their marriage in an amicable manner, which could reduce tensions and simplify their experience altogether. Or, they may benefit from having a clearer understanding of what to expect and a better ability to prepare for the effects of their divorce. We discuss more related to the end of marriage for those with a high net worth on our website.