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High Asset Divorce Archives

How divorcing spouses can protect themselves

Spouses in Alaska who are considering a divorce may not realize how expensive the entire process can be, and this goes beyond just the legal process. Many divorced spouses end up living like poor college students, but there are steps that they can take to prevent that.

Kaley Cuoco and Ryan Sweeting settle their divorce

Alaska residents might have heard about the divorce of actress Kaley Cuoco and retired tennis player Ryan Sweeting. The couple was married for about two years, and they have no children together. After nine months of divorce negotiations, Cuoco and Sweeting officially parted ways on May 6. According to reports, Cuoco had to have a tattoo with her wedding date covered up while she was going through her divorce.

Retirement plans require special attention during divorce process

Financial advisers recommend that the details of retirement assets be thoroughly evaluated during high-asset divorces in Alaska and across the country. Both parties in the divorcing couple will need to make decisions about how to divide retirement funds and determine the extent of tax liabilities.

Distributing retirement accounts when divorcing

Property division during a divorce seems simple enough as separate property is not divisible while joint property is. However, the process is often complicated in reality when it comes to assessing things like stocks, business assets and retirement plans. Here are some considerations for retirement accounts when dissolving a marriage.

Valuing a business during divorce negotiations

Some entrepreneurs in Alaska may believe that the rules governing the division of marital property do not apply to business interests, but they would be in for a shock if they were to divorce. Businesses are assets, and they will be treated in the same way as real estate, investments or artwork during a divorce. However, the length of time that a business has been in operation could have an impact on how it will be treated during divorce negotiations.

The wealthy depend on forensic accountants during divorce

In the business world, the wealthy have long counted on forensic accountants to sort out the shady accounting practices of their business partners. Now, the affluent are also increasingly turning to forensic accountants to help them deal with another potentially thorny issue: divorce. Financial experts say the trend is expected to grow in Alaska and around the world.

Social Security planning and divorce

Alaska couples whose marriages are ending should conduct Social Security benefits planning along with planning for their retirements after the divorce. One thing that some people may not realize is that even after a divorce, a person may claim Social Security retirement benefits based on their ex-spouse's earnings record while they are still working if their marriage lasted long enough.

Social Security can affect the timing of a divorce

Alaska fans of Ben Affleck and Jennifer Garner may be waiting in anticipation of finding out whether the rumors of their impending divorce are true. The couple has been married for nearly 10 years. However, estate planning and family law attorneys may also be interested in seeing if they set an example for clients of the possible importance of waiting until after that milestone has been achieved before ending a marriage.

Changing beneficiary designations during a divorce

When a person in Alaska decides that they want to get a divorce from their spouse, they should be prepared to update their beneficiary designations. According to a personal finance blogger, many often forget to change their designations prior to filing for divorce; once the divorce petition has been filed, the designations cannot be changed until the divorce has been finalized.

Older individuals who divorce face higher poverty risks

Couples in Alaska who are over the age of 50 and who are considering ending their marriage should take steps to protect their finances. Divorce is on the rise for people who are older than 50, but divorced people are also more likely to end up in poverty than their single counterparts. While only 4 percent of couples over the age of 62 live in poverty, 14 percent of divorced men and 30 percent of divorced women in that age group are at or below the poverty level, according to recent research.