Divorce Planning

For as long as people have gotten hitched, there has been the assumption that both sex and romantic love would continue to be two of the main reasons. Among elites, with wealth and assets as well as family business interests and public reputations on the line, marriage legality makes a big difference. Prenups (prenuptial agreements) are becoming more popular among the high net worth. But are they actually a good idea in elite marriages? Understanding Prenuptial Agreements A prenuptial agreement is an agreement two people enter into before getting married. It lists the manner in which assets, liabilities, investments and financial obligations will be addressed during marriage as well as in elite divorce planner or upon death. Prenups may sometimes be cast as pessimistic or unromantic, but at their core they are instruments of financial planning and risk management. Tween elite marriages — frequently among entrepreneurs, celebrities, executives or their heirs and public figures — the f...

The dissolution of a marriage under the law is often referred to as divorce, but really this is much too simplistic. It is the unspooling of two lives that have been financially, emotionally and legally merged—in some cases for decades. Assets acquired as one, debts incurred together, met expectations in retirement plans made jointly, enterprises grown from both efforts and property chosen with mutual aspirations must be considered, assessed and distributed. Emotions often influence objectivity in this complex procedure. Grief, anger, fear and uncertainty can obscure sound financial judgment. And it is in this complex terrain that a divorce financial consultant becomes an invaluable player. But this whiz is more than just a number cruncher: They act as an analytical ballast, making sure financial settlements are fair, equitable and something you can both afford long-term. Numbers Beyond Emotion: The Need for Financial Clarity Divorce settlements are frequently negotiated under emotiona...

  Divorce is among the most emotionally fraught of life events, and that emotional heft can influence financial decision-making. When stress, fear, anger or confusion set in, even financially savvy people can make costly errors. Sadly, quality of life can be forever impacted by mistakes made during divorce. Educating yourself about the most common financial mistakes people make during divorce – and learning how to avoid them – can protect your future and result in greater empowerment for making sound, enlightened decisions while you navigate the challenges of a very tough time. Letting Emotions Drive Financial Decisions One of the most common error in divorce is to make financial decisions based on emotions instead of facts. Anger-based, guilt-based, fear-based or “winning-oriented” decisions can interfere with clear thinking and are likely to end up as bad ones. For instance, clinging to the family home due to feelings of emotional attachment or arguing over relatively inconsequen...