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What financial issues can high wage earners expect in a divorce?

On Behalf of | Dec 12, 2023 | Divorce

Some say getting a divorce when you have wealth or earn a high income is much simpler than divorces involving minimal assets. Yes, there may be enough money for everyone, but high-asset divorces can still be complicated.

Knowing what issues could complicate or prolong your divorce might simplify things for you. While the specific financial challenges you face will be unique to your circumstances, the problems discussed below often arise in high-income divorces.

Maintenance disagreements

It is safe to assume that one spouse earns more than the other in most marriages, often by a substantial amount. You may understand and agree that your spouse deserves financial support to help them maintain their living standards after the divorce.

Still, in many high-asset divorces, the two spouses struggle to agree on what makes a spousal support award fair to all.

Marital property conflicts

Wisconsin is a community property state, and family courts strive to divide marital assets and liabilities evenly. That means the income and property you each accumulated during your marriage may be at risk..

If possible, it is usually better to negotiate a property settlement with your spouse instead of leaving it in the hands of the court. If you succeed, you can both walk away from your divorce with equitable shares of marital property.

Having experienced legal guidance can help you develop strategies that may protect your interests in a high-asset divorce.