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How To Get Through Your High-Asset Divorce

High Net Worth Divorce Lawyer

High Net Worth Divorce Lawyer
Divorce is a painful and sticky process, where all you want to do is get away from your spouse but your lives have become so woven together that it’s not easy to cut it cleanly. This is especially true for couples with substantial assets, as these may be subject to division and can be a topic of intense contention. To get you through this difficult period, here are a few tips to consider:

It Will Take Time, Be Patient

A high asset divorce often takes time. In fact, they tend to proceed far longer compared to divorces with less assets involved. Keep this in mind when starting the process, so you can be mentally prepared for the timeframe. When a marriage with high-net worth splits, the best course of action is to practice patience and take it one step at a time. Your lawyer can walk you through any road bumps and answer questions you have along the way. 

Divorce Isn’t Just About Assets

Divorce will impact every area of your finances, not just dividing assets. There are tax implications that your lawyer can review with you. For instance, if you and your partner have real estate property together that has appreciated over the years, disposing of these amidst divorce and dividing proceeds can result in large capital gains. It’s important to be ready for these financial consequences by having a legal team that is experienced in handling high-asset divorce cases.

List Your Assets ASAP, and Honestly

One common error that many people make when leaving a marriage is putting off listing assets until the very last minute. Or, a spouse purposely hides assets in hopes it won’t be taken away during the divorce settlement. While this is understandable due to the emotional and monetary strife divorce causes, if the court finds out about hidden assets they will not take too kindly on that spouse.

If you need a High Net Worth Divorce Lawyer, contact a law firm as soon as you think divorce may be on the horizon, such as a seasoned lawyer from Robinson & Hadeed.

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