Any Florida divorce will have its difficulties whether it is a high net worth divorce or one of more modest means. Those who are in the middle of the process will have varying reasons as to why they decided it was the right time to end the marriage and move on. Those considering it will have questions and wonder whether it is the right step. While the catalyst for a divorce may vary, societal circumstances often play a role. Currently, the ongoing health situation across the nation is having an impact on the divorce rate.
People forced to stay at home is spiking divorce rates
Given the circumstances with many people forced to remain in or near their homes, lingering tensions and other relationship problems are believed to be increasing the number of people filing for divorce. There was a 34% rise in people planning to divorce between March and June 2020 compared to a year earlier. The need to be closer to a spouse is only one aspect of the growing number of divorces. People are suffering from a litany of mental, physical and emotional problems during this problematic time.
In the data, 31% said the lockdown order led to their relationships coming undone. There was a crescendo of people who considered separating in mid-April. Among those who are experiencing marital trouble, newlyweds were found to be the worst affected. Twenty percent of the people who were assessing the prospect of divorce had gotten married very recently – within five months. The number was half that in 2019.
No matter the reason for a divorce, legal help may be essential
Regardless of why the couple is getting a divorce, there will be a variety of issues that must be navigated including alimony, child custody, child support and property division. Obviously, with a high asset situation, there will likely be real estate, collectibles, automobiles, a business and more. There may even be a prenuptial agreement to consider. The landscape will be different if it is a long-term marriage vs. a short-term marriage.
Perhaps there is enough middle ground to reach a settlement without going to court. Thinking about the future is a fundamental part of any family law case, but it is especially true for those with substantial assets. To address all the potential pitfalls and concerns in a high net worth divorce, consulting with legal professional experienced in family law can be beneficial from the start.
