Even after years and even decades of marriage, some couples can find themselves with marital problems. Maybe they grew apart, tension has broken the relationship or some other event caused the couple to believe that divorce is their best option.
No matter the underlying cause to end a marriage, it is important to understand that the divorce process can be very complex, causing each spouse to assess everything they bring to the table, including assets and debts. As such, each spouse must take care during the divorce process to not mishandle or hide marital assets.
High asset divorce
As any California resident can attest, celebrity divorces are often messy. Not only does the media focus in on all of the details of the breakdown of their marriage, causing adding emotional grief, but the complexities of the divorce are often greater due to it being a high-asset divorce.
Recent reports suggest just that with the divorce between actor Sylvester Stallone and his estranged wife Jennifer Flavin. Stallone is estimated to be worth around $400 million, making it a complex, high-asset divorce to begin with; however, Flavin claimed that he engaged in intentional waste of marital assets.
Misdeeds with marital assets
It was asserted that Stallone took intentional steps to deplete marital assets, causing an adverse economic impact on the marital estate up for division in the divorce. As such, his estranged wife claims that she should get a greater percentage due to his misdeed with the marital assets. While it was not specified how he allegedly depleted marital funds, the filing requested an order barring Stallone from selling or transferring marital assets during the remainder of the proceedings.
Divorce can get messy and complicated, and it can get further complicated throughout the proceeding due to the conduct of one or both spouses. Thus, it is important that divorcing spouses fully understand their situation, how best to move forward with property division and how to ensure their rights and interests are protected.