No matter what the reason is for your divorce, one thing is certain: it can drain you financially and emotionally. A divorce can be more complicated if there are children, assets, and properties involved. The process can drag on for several months or even a year unless everything is settled between both of you. In such cases, it is advisable to hire top rated divorce lawyers to guide you through the divorce process from start to finish.
Divorce can either be a blessing or a curse. On one hand, a divorce is a legal way to get out of an abusive marriage. Divorce is also the last resort for couples who think there is no more “love” in their marriage anymore. On the other hand, it can be a curse especially for couples who are better off than others.
When we say they are better-off, it means the couple is wealthy. They may even have millions of dollars’ worth of investments, properties, and bank accounts. That said, a divorcing couple who have high net worth may undergo a more complicated divorce procedure. In such cases, high-asset divorce lawyers can help couples go through this kind of divorce.
What is a high-asset divorce?
In general, all divorcing couples undergo the complicated process of divorce regardless of their financial situation. However, a divorce can be more complicated if there are asset, property, and financial division that will be involved.
Understandably, both parties would not want to hand their physical and financial possessions that easily regardless of how they acquired it. That is why a high-asset divorce can cost you a lot since you may need to hire accountants and other financial experts to settle the divorce. This does not include the divorce lawyers fees yet.
That is why in a high-asset divorce, it is better to leave the financial and technical aspects of it to experienced family lawyers. As mentioned, a high-asset divorce can be more complicated than the usual types of divorce. It may involve various legal issues that are usually not present in low-asset types of divorces. Among these said issues may include:
- Asset, property, and business division
- Hidden assets
- Negotiations regarding alimony and child support
- Appraisal and revaluing current assets and properties
A high-asset divorce can be less complicated if you and your soon-to-be-ex-spouse entered into a pre-nuptial or post-nuptial agreements. These should indicate which among the assets and properties would belong to. Not having one can indeed make the divorce process complicated.
Things to avoid in a high-asset divorce
No newlywed couple would ever think of getting divorced soon enough. But in life, we cannot know what may happen for the next couple of years. And yes, divorce can happen when you least expect it. In such cases, it may be a good idea to hire spousal support lawyers.
Here are some things you should avoid when undergoing a high-asset divorce include the following.
Thinking about being a divorcee soon can make you feel ashamed and guilty. However, you should not feel that way. Instead, think of it positively and that it can change your life for the better.
Ignoring hidden assets
Your spouse may be hiding assets from you even when you are still married. For your peace of mind, you can hire an accountant, auditor, or other similar experts. Family lawyers can also help you with this.
Ignoring legal advice
You may tend to ignore advice from your friends and even your lawyer. Sure, your situation may be overwhelming you at this time. That is why it is recommended to heed on expert advice as they mostly know better.
Tips to remember when you are undergoing a high-asset divorce
Here are some tips you should remember when you are undergoing this kind of personal situation.
Have a signed pre-nuptial, post-nuptial, and other important agreements.
This is not because you are anticipating a divorce in the future. Rather, it is a way to protect your assets in case something happens to you or your spouse. After all, it’s not bad to prepare for the unforeseen future.
Identify all of your assets.
Make sure that you consolidate all of your assets such as jewelry, businesses, properties, and more. You can seek assistance from an experienced lawyer specializing in asset management.
For your own safety, it is best to avoid exposing such sensitive information to the public during a divorce settlement.
Finding a high-asset attorney in your area
Hire the best divorce lawyers in Alexandria VA if you are considering a divorce. Contact one today.