Property division is often a leading source of stress during the divorce process. That said, if both parties are reasonable, you might reach a consensus about how to divide property without ending up in court. However, say you have accumulated a lot of assets in the marriage. In such a case, you may want to seek the guidance of divorce lawyers and other professionals during the separation. Here is everything you need to know about high-asset divorce cases and how to prepare for one.
Check the Prenuptial Agreement
Most people with extensive real estate will insist that their partner signs a prenuptial agreement. In this case, the agreement will protect all parties from economic exploitation or disadvantage. Hence, when you decide to part ways with your partner, you should check the document and refresh your memory on the terms of the divorce. That said, you should consult a divorce lawyer about the prenup if you signed it under duress or if it is unfair to you. In such a case, your attorney will help contest the legal agreement in court. You should know that the court might also void the contract if you were not fully aware of your spouse's financial status before signing.
Handling the Wealth Acquired in Marriage
The assets you acquire during the marriage will be distributed under different rules and regulations. For example, all the projects you worked on together are part of the money you should share equally. However, if you received gifts and inheritances during the marriage, you don't have to share them with a partner as part of the property acquired in the union. More so, a divorce attorney can help you speed up the process by listing your assets. In addition, they will help you discover if your spouse has listed all property for evaluation and equitable distribution. More importantly, a legal advisor can help you separate marital and non-marital property.
Litigation and Child Support Issues
It is common for high-asset divorce cases to end up in the courtroom. This is common because no one wants to lose considerable assets upon marriage dissolution. More so, when both partners have a lot at stake, they will do everything possible to protect their interests.
You should also note that child support is also a contentious issue because the amount is typically higher than in your regular divorce. More so, the court will try to ensure the child maintains the same standard of living even after the divorce. Hence, it is best to work with the best divorce lawyer in such cases to protect your and your children's best interest.
These are a few key things to worry about in a high-asset divorce. If facing a similar situation, speak to a divorce lawyer dealing in high assets divorce the minute the process starts. This way, you can protect your best interests and ensure the best possible outcome.
Contact a local divorce lawyer to learn more.Share