Because every marriage has its unique factors, such as the duration, number of children and assets attained, it makes sense that a divorce would be similarly unique. Some divorces may be on the simpler side, with few assets and no children, but many divorces will have some level of complication that will need individualized attention.
A high-asset divorce can include many assets, such as bank accounts, retirement assets, stock options, businesses and properties. In these cases, it’s especially important to work with an attorney in order to reach a settlement that works for both sides.
Some high-asset divorces may involve millions, but once in a while they will even delve into the billions. Take, for example, a Russian man who bought a mansion in Florida for $98 million, not to mention his other multi-million-dollar properties in Monaco and New York. The 47-year-old man and his father started a business in 1990 and began buying industrial enterprise shares two years later. He made his initial fortunes in fertilizer.
The man, who is now worth about $8.8 billion, is going through a divorce with his wife of 23 years. Their divorce started in 2008 and is still in proceedings. The court in Switzerland recently ruled that the man has to pay his wife the equivalent of more than $4.5 billion. Some say it is the most expensive divorce in history.
While most Floridians won’t have to deal with this level of division in divorce, many will have their fair share of assets to sort and divide. How those are divided will determine how a person will fend financially in the future.
Source: CNN, “Divorce reportedly costs Russian oligarch $4.5 billion, with a B,” Eliott C. McLaughlin, May 20, 2014