Helping You Resolve Difficult Issues In Family Law

3 factors to understand during your high asset divorce

On Behalf of | Dec 14, 2018 | High-asset Divorce

When you got married, you likely envisioned a life in which you and your spouse would go through many experiences together. As you both worked and accumulated a considerable amount of assets, you may have begun to feel even more as if the world was at your feet as a couple. Unfortunately, your relationship did not stay as strong as you had hoped in the beginning.

Whether you were married for a few years or a few decades, going through a divorce can be complicated. Because you have become wealthy over the years, you may worry that your considerable net worth will cause even more complications during the divorce process. You are not incorrect to follow this line of thinking, but fortunately, you can help yourself prepare and protect your assets.

Understand your documents

If you already had some wealth when you got married, you likely took advantage of a prenuptial agreement in order to protect your assets in the event of divorce. If so, you may want to take the time to review that document before your proceedings get fully underway. After years of marriage, you may have forgotten the exact details included in the agreement, and refreshing your memory may give you an advantage.

You may also want to review other documents that will play a part in your divorce. For instance, going over deeds, titles, trusts and other documents may help you as you inventory your assets.

Understand your assets

Due to your financial success, you have not had to worry about money for some time. However, you likely enlisted the help of financial professionals to keep your wealth growing. As a result, your financial team may have made investments, or other money moves on your behalf, that you need to understand before stepping into the courtroom.

Additionally, it is important to remember that the value of assets differ, and even if a savings account and a retirement account have the same amount of money in each, the value of that money is not the same.

Understand your right to legal help

If you already have financial professionals on your side, you will likely find their services useful throughout your divorce proceedings. Another type of professional you will certainly want to utilize is an Arizona attorney. This legal professional can help guide you through the complex nature of your high asset divorce and work with you to reach the outcome you desire.