The statement that money can complicate anything contains a great deal of truth. You probably already know that divorcing is challenging in and of itself. Add money to the mix and chaos can reign unchecked. For many, it is not about the actual money in a high asset divorce. Rather, it is about fair treatment and not being taken advantage of.
Connecticut is an equitable division state, making preparation a high priority in a high asset divorce. However, preparation can be a difficult goal if you and your spouse cannot work together. You can do your own part by making yourself as prepared as possible on your end. Below are three tips that may help you in this goal.
Make a list of your assets. Before you can identify what you deserve in a high asset divorce, you have to know what you have. Collect documentation regarding bank accounts, property deeds, business income, investments and other assets.
Make a list of debts and liabilities as well. These can include loans, mortgage payments, car payments, credit card balances and many others. This information is just as important as asset information.
Hire the right divorce lawyer. Instead of relying purely on reputation, research your options and make sure you find an attorney who is firmly on your side. The right lawyer helps you avoid mistakes, fights for your rights and ensures you receive a fair high asset divorce settlement.
Divorcing with a high net worth puts your future and the future of your family at risk. Prepare yourself as best you can and never hesitate to seek professional advice about all of your concerns.
Source: LiveMint.com, “When untying the marriage knot,” Priya Sunder, accessed June 09, 2017