Are individuals facing high asset divorce less likely to fight?
Money and other assets are often a main focal point of any divorce case. People typically think about fighting over the house, funds in bank accounts or other property that they feel the need to hold on to for the sake of their futures. However, would Kentucky residents believe that individuals in high asset divorce cases may be less likely to fight over money?
According to one out-of-state divorce attorney, that less-contentious scenario seems to be the case. He suggests that couples who have at least $5 million are less likely to create conflict over money. While his speculation is not backed by a comprehensive research study, it was noted that individuals in the upper middle class, or those with less than $5 million, are deemed “the fighting class” due to their tendency to fight over financial aspects of divorce.
The conflict apparently stems from the almost-wealthy individuals’ desires to maintain their social and financial standing. However, parties with more than $5 million reportedly do not need to fight because they will likely still maintain their wealthy status even if assets are divided. Of course, having a prenuptial agreement could help address the possibility of the financial impacts of divorce long before they take place.
While this speculation may ring true for some cases, the amount of contention involved in a high asset divorce will likely depend on the specific individuals and their circumstances. Many wealthy individuals still want to protect their assets as much as possible, and having the right information on how to do so can prove useful. Therefore, Kentucky residents in this type of situation will likely find it prudent to consult with their legal counsel.