With any divorce, taking the proper approach is critical. However, this may be even more important if you have a high net worth. Divorce can be tricky from many standpoints, which we have gone over on this blog, such as legal issues involving children. That said, the potential financial impact of divorce requires a closer look, particularly if you will be going through a high asset divorce. At Butler, Giraudo & Meister, we can understand that some people may feel unsure of where to begin with any divorce, let alone those involving significant assets. By methodically looking over your choices and planning your path forward, an outcome that is more favorable, both in terms of your assets and other factors, may be more attainable.
First, you should review any issues that might be relevant to your circumstances. Will you be required to pay alimony or child support? Or, do you plan on receiving these payments? How will your marital property be divided between you and your spouse? These are just some of the basic questions you may want to ask yourself. Next, it is essential to carefully go over any relevant matters an try to prepare yourself for the possible changes you may encounter once you split up with your spouse.
We know that life after divorce can be difficult to navigate, which is why preparation is paramount. The high net worth divorce part of our law office’s site will offer additional information related to ending a marriage with sizable assets.