Divorce and financial matters

On Behalf of | Sep 16, 2013 | Divorce

One thing that divorces often touch on are financial matters. There are a wide variety of financial issues that can arise in connection to a divorce.

One such issue is the issue of property division. There are many important questions that can arise in connection to the issue of property division in a divorce. Some examples include:

  • What property is subject to division?
  • How will the property that is subject to division be divided?
  • Was a valid prenuptial agreement formed between the parties and, if it was, what impacts does this agreement have on the division of property?

Another financial issue that can come up in connection to a divorce is the issue of whether or not any spousal support payments will be assigned in relation to the divorce.

Sometimes, financial issues related to a divorce end up being resolved by a decision by a court. Other times, the parties to a divorce reach a settlement resolving such issues. What resolutions are ultimately reached in connection to divorce-related financial issues can have significant impacts on a person.

Recently, some news has arisen that illustrates how impactful divorces can be financially.

The news regards the Chief Executive Officer of Best Buy. The CEO recently sold a large number of shares in the company. According to Reuters, the CEO made over $10 million through this sale.

Why did the CEO make this stock sale? The CEO recently got divorced and, according to a spokesperson with Best Buy, the stock sale was made to address the costs associated with this divorce.

Given how impactful a divorce can be on a person financially, if a person is going through a divorce, he or she may wish to consider seeking the representation of an experienced family law attorney who understands the many financial issues that can arise in relation to a divorce.

Source: Reuters, “Best Buy CEO sells shares to help cover costs of divorce,” Sept. 10, 2013