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Lack of family and financial planning can result in higher divorce expenses

Sometimes, it won’t happen until after a couple splits up that they will discover how expensive a divorce can be. To make matters worse, divorce proceedings can get a lot more complicated if there are valuable assets to be divided between them.

Entrepreneurs and business tycoons are known for having the most expensive divorces, amounting to millions of dollars. One of them is the divorce of hotel magnate Li Kin-Kan from his wife Florence Tsang-Chiu-Wing, which cost around $157 million. Kin-Kan asked Tsang-Chiu-Wing to perform an abortion; she refused. Subsequently, she learned that he was having an affair, thus ending their marriage that had started in 2008.

The settlement money was equivalent to 20% of Kin-Kan’s profits and was sealed under a new law that guaranteed a 50-50 split of assets. Furthermore, Judge John Sanders said that Tsang-Chiu-Wing was entitled to their yacht, as she should be afforded the same lifestyle as though they had never divorced.

If you find yourself going through the challenge of a divorce proceeding, a child custody battle, an asset or debt division dispute, or a child or spousal support dispute, we have the right attorneys at Marshall & Taylor PLLC to help you. Call our Raleigh, North Carolina offices today at (919) 833-1040.