Going through a high asset divorce – Tips to keep in mind

May 24, 2022 by No Comments

Among all things that happen in your life, divorce is certainly not the easiest thing. Matters often get worse when all sorts of unwanted details pop out in public and lead to a public battle between the partners. 

A majority of the marriages end up in divorce. While this is something that may come to you as a shock but it is a common fact for most people. Divorce also occurs among rich and wealthy people with several financial assets. In case you’re preparing yourself for a high asset divorce and you’re already searching for a Delaware high asset divorce attorney, here are a few things that you should bear in mind. 

  • Take a minute look at your finances

Regardless of whether you are on the receiving end or at the serving end of divorce papers, one of the simplest ways of keeping afloat is by not getting emotionally attached. Most individuals forget to pay heed to their money and assets but realize a little later than they should have paid attention to their finances. Hence, before moving on with a high asset divorce, pay a minute look at your finances. 

  • Systematize your assets

One more step to take is to categorize and organize your assets. Strike off every thought of shuffling ownership, transferring ownership, liquefaction, or hiding assets. Maintain your integrity and credibility as there are risks that these moves will be discovered later, especially when your spouse hires a forensic accountant.

  • Close all joint accounts

Did you and your spouse have multiple joint accounts? If answered yes, it is in your best interest that you close down such accounts. Once you do this, you can prevent either of the spouses to max out those cards and making withdrawals that might empty the bank account. In such cases, it is better to get help from a family law attorney as they specialize in these areas.  

  • Keep all divorce matters confidential

Now that you have to go through a high asset divorce, it can be assumed that you’re quite a public figure. It is always in you and your spouse’s best interest to keep all court matters confidential. Even if you’re not particular about putting out your financial details in public, you can persuade a family law attorney to help you in maintaining privacy. 

  • Try resolving through mediation

The biggest blunder made by people going through a divorce is not trying the option of mediation. You should hire a mediator and discuss matters with him so that you can try to resolve the case outside court. In case you’re lucky to have a reasonable partner who is willing to sit and discuss matters with you, you should sit with a mediator. However, make sure both the spouses are willing to compromise.

High-asset divorces are complicated and therefore they need a different level of assistance from lawyers. Hire the most experienced attorneys and ensure they have your best interests in mind. 

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