While most of us are aware of the divorce between Brad Pitt and Angelina Jolie, it is important to understand the general implications of divorce for a high asset couple, including couples in the East Bay. Managing a high asset divorce can present additional challenges for divorcing couples. While Pitt and Jolie have six children and will need to resolve custody concerning their children, they also have millions of dollars in assets and royalty income that can be challenging to value. High asset divorces can generally include assets that are difficult to value and many divorces involve division of assets, including investments, real estate, retirement, other types of income and taxes.
Professionals, including financial advisers, mediators and others involved in the divorce process, note that couples can negotiate a fair division of assets that helps facilitate a better co-parenting relationship and child custody and visitation arrangement. Couples may wish to look at the divorce process holistically in that sense. California is a community property state, which calls for a 50-50 split of assets. Assets should be listed, appraised, valued and divided. Couples are always encouraged to work out agreements concerning divorce-related issues between themselves whenever possible; the alternative is for the court to decide for the couple.
