Are you a CEO or another senior-level executive who is getting a divorce? If so, don’t be surprised if your divorce presents unique challenges that don’t apply to traditional divorces. What are we referring to when we say “challenges”? There are several, which we shed light on below.
For starters, CEOs and other executives are extremely busy individuals. They often have full calendars and executive assistants who handle every aspect of their hectic schedules. When an executive is working 60 to 80-hour workweeks, traveling regularly, conducting meetings daily, and having to give interviews, it can be very difficult to squeeze in time for their children, let alone their divorce.
Little Time for Divorce-Related Tasks
When you’re busy running a successful company, virtually all of your focus is on your work and it can be difficult to shift your focus to divorce-related tasks. However, it’s critical that you do make time for gathering financial information, even if that means assigning an assistant to do it for you.
If you delay too long in your divorce proceedings, it can send the wrong message to the court that you’re hiding something, or that you’re trying to escape paying child support or spousal support.
It’s very common for senior executives to be the ones who are knowledgeable about the couple’s finances, and for them to have direct access to all of the financial account information. Because of this, the burden to produce important financial documents is on the executive’s shoulders.
When an executive doesn’t produce the financial records in a timely manner, he or she can face suggestions of concealment or other dishonest acts, which can damage their credibility in the eyes of the court. Thus, we believe it is critically important to inform our executive clients and make them aware of the adverse consequences that can occur if they do not pay enough attention to gathering information in a timely manner. Because of this, we are happy to adopt a strategy that can provide assistance in the information gathering process.
Helping Senior Executives Facilitate Their Divorces
To help our CEO clients, we are extremely respectful of their time, and one way we demonstrate this is through scheduling meetings well in advance, and doing what we can to accommodate the busy CEO’s schedule. We can also send agendas to the CEO ahead of each meeting to help them prepare well in advance.
Next: What is Dissipation of Assets in a California Divorce?
If you’re a CEO or senior-level executive and you’re getting a divorce in Orange County, we invite you to contact our firm to learn how we can help make the process as smooth as possible. Our goal is to accommodate you in every way we can.