Dissolving a marriage is often a complicated process that involves a lot of tricky obstacles, especially when the divorce involves substantial assets. Determining which assets are marital and which are separate, particularly for long-term marriages, can be difficult and is often a major point of contention for both parties. To untangle the threads and make this process easier, there are some tips you can follow to ensure your high asset divorce goes more smoothly.
Getting Through a High Asset Divorce
Spouses facing a high asset divorce must often deal with unique problems that are generally not seen in other divorce cases. As such, it is essential to work with an attorney who is experienced in handling legal matters like yours.
You should also consider some of the following tips:
- Work with financial experts: In addition to working with an experienced attorney, you should also consult with financial experts to assess the value of your assets and trace them to the separate property source. Oftentimes, attorneys who routinely handle such cases either have experts they can refer you to or can consult with you on these matters as well.
- Do not hide any assets: If the property or assets are yours, it probably does not feel like you are hiding anything, but even separate property needs to be accounted for, so make sure everything is accessible for evaluation.
- Do not be in a hurry to settle: Divorce is such an emotional and stressful process to endure that sometimes it seems almost worth it to just settle and move on. However, though this might provide immediate relief, it will also produce long-term consequences you are not ready to face. It might require a little more patience on your part, but it will benefit you in the long run to negotiate and fully consider the consequences of an agreement.
- Understand the tax consequences: Some assets are subject to severe tax consequences, so make sure you understand what you are fighting for and how it can potentially affect your taxes. To assess the consequences, your attorney will work with an accountant to determine the ramifications of any assets you receive in a divorce settlement.
Knowledge is power in your divorce, so make sure you choose an experienced divorce attorney to guide you through the process. Your future is at stake and the choices you make now can last for years to come.
Reach Out to a High Asset Divorce Attorney Today!
If you are going through a high asset divorce, contact the team at Weis Law Group for the exceptional legal advice you need to get through this process with ease. Our team is committed to providing personalized solutions and strategies that help you achieve the results you need. Backed by more than two decades of combined legal experience, you can trust our team’s ability to provide the award-winning services we are known for.
Contact our law office today at (614) 428-0266 to schedule a case review with a high asset divorce attorney and learn more about what we can do for you!