When couples in California go through a divorce, an ideal outcome is having everything work out amicably, with both parties willing to handle everything with minimal stress. However, this is not a reality in toxic divorce cases. In high-asset divorce cases, the stakes are higher, and there is more room for problems.
What makes a divorce toxic?
An example of a toxic divorce is when one party wants things handed equitably, and the other is uncooperative, especially concerning financial matters. Intimidating or harassing behavior or causing difficulties with children or other family members is another possibility.
In high-asset divorce, divorce proceedings can take years instead of months. If one party is dishonest about their earnings or otherwise tries to hide assets, this complicates things further.
Understanding what might happen
Predicting what to expect from the uncooperative party is a priority for the other party. Sometimes, a vindictive estranged spouse may try to make things as difficult as possible in ways that impact the other party’s finances.
One of the most important considerations is ensuring the divorce decree addresses financial matters concretely. A specific decree clarifies the terms and provides a way for the targeted spouse to act if the contentious behavior persists.
What about executive compensation?
Executive compensation must be addressed if one or both parties are current or former executives. There are particular regulations regarding how the courts treat these assets. In toxic high-asset divorces, the hostile spouse might try to hide or deny these assets without good cause.
In any situation involving a divorce with high assets, it’s essential to stay as level-headed as possible. The more you document everything, the easier it will be for you to take action.
Going through a divorce is one of the most challenging experiences for most. However, being better informed makes a difference.