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Film director Moore heading for high-net worth divorce

Divorce is not just about child custody, support and alimony. For St. Charles, Missouri, residents, the division of property and assets is also an important divorce issue. The outcome of this division can certainly help divorced individuals start a new chapter of their lives, making it a subject that requires thorough attention, especially if the stakes are high.

The film director, Michael Moore, and his wife, who is a film and television producer, are currently embroiled in a high-net worth divorce over real estate. The couple has nine properties in New York and Michigan including a massive vacation house on Lake Michigan which has been the cause of much criticism of Moore due to its high cost. The couple's combined assets are reportedly worth millions of dollars.

High-net worth divorces are complicated due to the number of property and assets involved. Also, one party might possibly be hiding assets from the other party. To provide an accurate financial picture, divorcing individuals can hire forensic accountants who can help discover and inventory all property and assets. Spouses should also consider tax implications when divvying up assets. Knowing how much tax would need to paid might help spouses determine which property or asset should be sought.

Other factors affecting high-net worth divorces are prenuptial and postnuptial agreements. If a couple drafted this kind of agreement prior to or during the course of marriage, a judge can honor the agreement as long as it was well-written and not signed under duress. The contents of the agreement usually contain how property and assets will be divided as well as the amount of alimony to be paid in the event of divorce. Lastly, Missouri spouses may seek legal advice from a St. Charles complex divorce litigation attorney to protect their best interests throughout the legal process.

Source: Freep.com, "Michael Moore's Michigan mansion at stake in divorce case," June 5, 2014

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