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High Asset Divorce Archives

Knowing when to contact a divorce attorney

A great many spouses who eventually end their marriages spend an enormous amount of time considering that possibility prior to taking any action. Some are uncertain at which point they should contact a divorce attorney, and waver in making this critical decision. It is important to understand that when it comes to matters of Missouri divorce, including property division and child custody, taking a proactive approach is the best possible course of action.

Tips on improving credit before and after a divorce

Many Missouri couples have amassed a significant volume of wealth within their marriage and are in a good position to divide their marital assets during a divorce. That said, there are many cases in which one or both spouses have neglected to develop or maintain a positive credit history. Failure to have good credit can lead to a wide range of problems after a divorce, including difficulty opening new lines of credit and even problems finding a new job.

Data collection and your Missouri divorce

With the advent of smartphones, life has changed for many Missouri residents. We now have the power to find the cheapest gas prices, locate the nearest Chinese restaurant, keep up with friends and family and catch up on work -- all using a relatively tiny personal computer that fits in our pockets and is also able to make a simple phone call. What few realize, however, is that the same technology that can give us almost instant driving directions to our next destination is also able to track our whereabouts at any given point in time. For spouses who are preparing to divorce, smartphones can be used to secure a great deal of information.

What to look for in a Missouri divorce attorney

For Missouri spouses, securing legal counsel is the first step in moving toward divorce. Many people fail to recognize the importance of the attorney/client relationship, or the impact that this professional bond can have on the outcome of the divorce process. Finding the right fit is well worth the time and effort it takes to meet with a few potential choices.

Ex-husband may receive assets despite wife's intent

Once a property settlement is entered by the court as part of a final divorce decree, most former spouses part ways with no shared assets. The will of each former spouse is often changed to remove the other spouse as an heir. However, in Missouri and across the country, some people neglect to make changes to the existing beneficiary designations in certain types of accounts, sometimes resulting in these assets being transferred to the former spouse unintentionally.

How a 401(k) account is handled in a divorce

When a couple divorces in Missouri, they will need to divide their property, including real estate and bank accounts such as retirement savings accounts. Portions of an individual's 401(k) account may be awarded to a former spouse and dependents as part of the divorce agreement. If this occurs, a qualified domestic relations order will be issued by the court defining how the account will be divided and who will receive the funds. A QDRO is a court decree, or order, that identifies the recipient of the assets in a 401(k) account.

Divorce asset division

Some Missouri residents considering divorce may be interested in the topic of asset division during this process. The financial separation can be distressing when steps are not taken to address the types of marital assets to be divided and the implications of division. This can be compounded when one marital partner is primarily responsible for the finances, and the other partner is potentially unaware of the extent or nature of the assets.

Terrence Howard asks judge to throw out divorce agreement

Missouri fans of Terrence Howard might be surprised to learn that the Oscar-nominated actor lives on less than $6,000 a month, according to TMZ. Howard has asked a judge to release him from his divorce agreement with his second wife, Michelle Ghent, claiming that the spousal support and child support he gives his first wife does not leave him enough to support Ghent as well. Howard and Ghent were married for an approximate year.

Frank McCourt's former wife ordered to pay fees

Missouri readers may be interested in the a recent decision made by a Superior Court judge in a high-profile divorce case. When Frank McCourt, the former owner of the Los Angeles Dodgers, and his wife divorced in 2012, their settlement agreement included language intended to bring an end to litigation in the matter of their divorce, according to a decision rendered on June 24, 2014. The judge also suggested that the document included terms making the party who contests the agreement liable for the legal fees incurred by the other party. The woman chose to contest the terms and was eventually ordered to pay for her former husband's attorneys' fees.

Director going through difficult divorce

Missouri fans of "Fahrenheit 9/11" and other works of director Michael Moore may be surprised to learn that Moore is currently going through a divorce from his wife of 23 years, Kathleen Glynn. She has worked as a producer on some of Moore's films, and the couple has brought in tens of millions of dollars during their time together. Much of the divorce centers on figuring out how to best divide the money between the couple. A major difficulty, though, comes from his wife's building of a $2 million vacation mansion in the couple's native Michigan. Glynn allegedly used marital funds to build the house, and its building has, according to the director's attorneys, adversely affected Moore's image and reputation.

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