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The worst time for a high asset divorce

The University of Minnesota just released a report saying that the divorce rate, which has been right around 50 percent, is rising once again. Interestingly, the study showed that the rate is going up the most with older couples. This could be tied to the fact that the divorce rate is also higher for those in a second or even third marriage, as people are likely to be older at that point.

When looking at the worst times to get divorced, especially when dealing with a high asset divorce that could be quite costly, certain times of the year are usually best avoided. For example, many people put off getting divorced in December, wanting to get through Christmas first. Therefore, divorce numbers tend to jump every January.

From a strictly monetary perspective, getting divorced around certain events should also be avoided -- for example, around the sale of a business that both partners own. Filing for divorce while selling the company can be a huge mess. The court may even have the power to keep the company from being sold until the divorce has been finalized. This could slow things down or even derail a sale.

With the divorce rate on the rise, there is a good chance that more than half of the people who are married are going to get divorced at some point. Being aware of the best and worst times to do this can make the process easier for both sides. Experienced Minnesota divorce attorneys can advise you on any potential business complications that could ensue when you file for divorce and help you determine the best time to take the step.

Source: Market Watch, "When’s the worst time to get a divorce?" Quentin Fottrell, May. 24, 2014

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