Going through a normal divorce in Maryland can be a stressful and tiresome process, but going through a high-asset divorce puts it on a different level. Along with the standard divorce obstacles, couples with higher assets worry about intimate details that the public gets to find out if there were standard court procedures for the assets.
Whether you are the CEO of a company, a business owner or a public figure, having your divorce details open for everyone to see could be dangerous for your family and professional life. There are private ways you can settle this process, and you should know why that might be more beneficial for you and your ex.
You minimize damage to your reputation
If you settle your divorce in a public court, anyone can see what goes down. While some prefer the proceedings to be public to expose their ex, many fail to realize that they are putting their own reputation in the crossfire. Your ex and their lawyer could expose secrets about you to your friends, family and co-workers in an effort to gain more control over assets or child custody. These accusations could range from behavioral or financial problems that they believe you have.
Even if you end up walking away with more assets, your colleagues might not look at you the same way ever again. Your co-workers may have less confidence in your working ability and you could lose friends that side more with your ex.
You make it easier for your child
You and your ex are not the only ones that have to deal with the stress of divorce. This can also be a difficult time for your child as your kid will no longer have two parents in the household. One of the most frequent tactics divorcing parents use to help their children go through the process is minimizing conflict in front of the kids. Even if you and your ex are not on the best of terms, you know that getting into fights in front of your child will make the situation more difficult.
The court may require your child’s presence to help determine child custody. Now any dirty secrets you or your ex have to unleash on each other can be heard by your kid. Your child might feel even more conflicted between the two of you and see you differently as a parent. Dealing with one strained family relationship is hard enough, and divorcing in public might add another one to your list.
You have a less stressful environment
Having a divorce proceeding done in private mediation can put you and your ex in a more calming setting. The intense environment of a courtroom with multiple people watching might cause you to make rash decisions in the proceedings, which could cost you high-value assets or child custody time.
Getting your divorce proceedings done privately could remove a lot of stress from the process. Having higher assets means you likely have more people interested in how the divorce goes down, so carefully consider whether private or public proceedings will be more detrimental to your assets, family life and reputation.