It goes without saying that one of the top things people argue about in high-asset divorces is money. But what many people don’t realize is that the biggest disputes in divorce don’t always end with asset division and alimony.
Here are some of the top things that people struggle to agree on in a divorce.
Custody of the kids
Unsurprising to many custody issues can be a highly contentious topic in a divorce. Few parents want to relinquish custody time to the other parent and may even consider shared custody to be out of the question. But when parents can’t agree the court will make the custody determination. A judge will consider a variety of factors before granting custody rights. Some of these factors include each parent’s financial ability to care for the child, the relationship that the child has with each parent and what would be in the best interest of the child.
Who gets the family home
In high-asset divorces, who stays and who goes isn’t always a cut and dry decision. The family house may be the most valuable piece of property and some consider fighting for it more important than fighting for other financial assets. It also may be the case that one person wants to sell the home and split the cash while the other is fighting tooth and nail to stay under the roof. Every divorce is different but high-asset divorces can be just as much about who gets the marital home as about other assets.
Even in the world of digital photo albums, many ex-couples fight about old family photos that have been stored away. Many of the photographs have been handed down through generations and each person may feel that he or she is the rightful owner.
Other items can have little monetary value but the arguments over who will keep them can drag on for hours, which can leave them paying more in attorney’s fees than the item is actually worth. But in cases like these, it isn’t about the value of the item but rather the sentimental meaning – and that some couples see ownership over it as a “win.”
Time and time again my clients ask me how long their divorce will take. But as you can see above the length of the divorce process depends entirely on how much each person is willing to compromise to reach an agreement. When compromise isn’t possible, a divorce case simply will have to go to trial.