New Jersey residents may have heard that Amazon founder Jeff Bezos and his wife MacKenzie Bezos are divorcing. What wasn’t heard after the announcement was any name calling or blaming. This is because the couple jointly broke the news and are making an effort to stay amicable. There are some tips for dissolving a marriage without contention when extensive assets are involved.
The divorce process can take the form of collaboration, mediation, or traditional litigation. In addition to the personal issues that may arise during a divorce, several financial, legal, and tax issues will need tending to. One may need professionals like a business valuation expert, therapist, CPA, forensic accountant, estate planning and family law attorneys, and a financial analyst.If one or both parties had significant assets before a marriage began, a prenuptial or post-marital agreement may be in place. However, one should not assume such a document is sufficient protection when a divorce happens as these documents can be challenged.
Those who own or head up a business face special challenges as they also must think about their company and business assets. If a company is founded after a marriage, company stock could be classified as marital property that is subject to division.
Property like business interests, insurance, real estate, and stock options may be involved in a high-asset divorce. Matters of alimony and child custody may be also be in play. Both parties may try to work together along with their respective attorneys to reach a settlement, and this often saves time and money when compared to litigation.