Handling luxury asset division in high-net-worth divorces
Higgins Law Blog
by patrick.swift@thomsonreuters.com
4M ago
Divorce is never easy, but the stakes can be even higher when high-value assets are involved. In Nebraska, affluent couples often face unique challenges when dividing luxury items. Understanding how these assets are handled can make a major difference in achieving a fair settlement. Luxury items that can be on the line When affluent couples divorce, they often have to divide various luxury items as part of the equitable division process. These can include: Yachts and private jets High-end real estate properties Art collections and rare antiques Exclusive memberships Businesses Luxury personal ..read more
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10 ways a spouse may try to hide assets
Higgins Law Blog
by patrick.swift@thomsonreuters.com
4M ago
During a divorce, not everyone plays by the rules; some try to outsmart the system with clever, albeit questionable, tactics. This can be especially true when it comes to dividing assets. If you have substantial, complex properties and worry that your soon-to-be-ex-spouse might not play fair during your divorce, hidden assets can be a very real risk. Where do I look? Someone can try to conceal money or property in several ways to shield it from division. Some places to start looking include: Cryptocurrency caches: A spouse might covertly accumulate cryptocurrency, which can be difficult to tra ..read more
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Will I get spousal support after my divorce?
Higgins Law Blog
by patrick.swift@thomsonreuters.com
4M ago
Divorce is an upsetting change for any person. However, if you are financially dependent on your spouse, the thought of ending your marriage and being without that support can be especially overwhelming. Alimony can be a lifeline in these situations. It can provide financial relief for people who have given up their own earning potential to support their spouse, kids or home. However, it’s not a given. Factors that influence alimony awards Alimony is not a means of punishing a higher-earning spouse or equalizing post-divorce finances. Instead, it helps dependent spouses get back on their feet ..read more
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How is a business divided in a Nebraska divorce?
Higgins Law Blog
by patrick.swift@thomsonreuters.com
6M ago
Dividing a business owned by one or both spouses undergoing a divorce can be complex and contentious. Nebraska is an equitable distribution state, meaning the court divides marital debts and assets fairly but not necessarily equally. If your business is marital property, Nebraska treats it like any other marital asset during divorce proceedings. Determining the exact nature of your business assets and how they fit into the marital estate is a critical first step. Determining whether the business is subject to division Several factors influence the distribution of a business’s value. Considerat ..read more
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Divorcing later in life: Protecting your retirement nest egg
Higgins Law Blog
by patrick.swift@thomsonreuters.com
7M ago
Divorce is a complex process, oftentimes even more so when navigating it later in life. A significant concern for retired professionals in Nebraska often centers around protecting their carefully built retirement accounts. Nebraska is an equitable distribution state. This means the court divides marital property – assets acquired during the marriage – fairly, not necessarily equally. However, the court respects separate property – assets owned by one spouse before marriage or inherited during the marriage. Regarding retirement accounts, contributions and growth made during the marriage are gen ..read more
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Withholding parental time for unpaid child support hurts everyone
Higgins Law Blog
by patrick.swift@thomsonreuters.com
7M ago
Navigating the complexities of co-parenting after separation can be challenging, especially when emotions run high. In situations where child support payments are missed or delayed, it’s understandable for the parent who is owed that support to feel frustrated and to even consider withholding parenting time as leverage. While this may seem like a justified response, doing so can have serious legal, emotional and long-term consequences for both parents and, most importantly, the children involved. If this is your current predicament, it can help to understand why withholding parenting time in r ..read more
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Tips for divorcing a narcissist
Higgins Law Blog
by patrick.swift@thomsonreuters.com
7M ago
Divorcing a narcissist can be a challenging and emotionally draining process. Narcissists often exhibit behaviors that are manipulative, self-centered and lacking in empathy, which can make the divorce process contentious and complex. Individuals in this situation must approach the divorce with a strategic and informed mindset, focusing on protecting their interests and well-being. Each step requires careful consideration, from preparing to leave the marriage to navigating their divorce proceedings and rebuilding a healthy life afterward. Preparing to leave the marriage The initial phase of le ..read more
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Why does becoming an empty nester lead to divorce? 
Higgins Law Blog
by rajayogan.s@thomsonreuters.com
1y ago
There is potentially a link between becoming empty-nesters and getting a divorce. After all, gray divorce is on the rise. Many people who are 50 years old and older have recently become empty-nesters when their children moved out of the house. But why does this correlation exist? What is it about the children moving out that causes couples to reconsider their relationship? There are a few different things to keep in mind. The children may have been a distraction First and foremost, raising children takes time and energy. It can often act as a distraction from the issues that the couple has in ..read more
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Are prenuptial agreements right for your marriage?
Higgins Law Blog
by rajayogan.s@thomsonreuters.com
1y ago
Prenuptial agreements have gained considerable prominence in a world where the dynamics of love and marriage constantly evolve. These documents outline both parties’ financial and property rights in the event of a marriage dissolution. While traditionally associated with the rich and famous, prenuptial agreements have become a topic of interest for a broader range of couples. Exploring their benefits can help you decide whether prenuptial agreements might be the right choice for your marriage. Protecting your assets One of the primary advantages of a prenuptial agreement is asset protection. I ..read more
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What are divorce modifications, and when might you need them?
Higgins Law Blog
by rajayogan.s@thomsonreuters.com
1y ago
Life can throw curveballs when you least expect them. Case in point, divorce, once thought to be a final decision, may need to be revisited due to changes in circumstances.  Have you heard of divorce modifications? Do you know when you might need them? Anticipating different outcomes during divorce can prepare you for different eventualities. What are divorce modifications? Divorce modifications are legal changes made to the terms of a divorce decree or agreement after it has been finalized. These modifications can encompass various aspects of the divorce settlement, including child custo ..read more
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