As divorce attorneys serving residents in the Hartford region of Connecticut, we have assisted many couples with valuable assets. We see two approaches to wealth by these individuals: One group frets over the finances constantly to make sure everything adds up as it should; the other group tends not to pay that much attention because they assume they will always have access to the funds they need.
Either of these approaches could be problematic if the couple should decide to divorce. Say for example, one couple has enjoyed a lavish lifestyle but one or both parties have paid little attention to the deeper details about their finances. If the couple should decide to get a divorce, identifying and valuating all of the spouses’ separate and marital property could be a nightmare. In turn, it will make the property division process especially challenging.
In a different example, say one spouse is fully aware of all of the wealth and property associated with the marriage. However, the other spouse might not have this high level of knowledge. If the first spouse is a bit unscrupulous, the other spouse could be left high and dry without adequate assets to make ends meet.
Below are some tips to use in a high asset divorce that should address both of the examples above.
- Learn all you can bout the family’s finances, assets and properties.
- Engage a divorce attorney to represent and support only you.
- Consider adding a financial advisor to your team. Many times, your lawyer can recommend a good financial advisor.
We believe these tips can prevent some of your high asset divorce proceedings from erupting into chaos or conflict. Please visit our website if you need more information about divorcing with high assets.