When you meet someone, fall in love, and decide to get married, you never imagine that one day you will want to divorce that person. Unfortunately, the reality is that the harder parts of life often interfere with love and about half of the marriages in the United States end in divorce. Divorce is almost always complex, heartbreaking, and expensive. However, when you are a high profile couple or one with many assets, divorce is often much worse.
The largest point of contention in most high asset divorces, especially for those without children, is property division. In certain states property division is fairly straight forward because the state mandates that everything will be split 50/50. However, in many states, the point of property division can be a very grey area. Especially, for couples with a lot of money and assets.
The issue of property division is made even more complex in this type of divorce because some spouses have a way of making assets disappear in order to prevent their spouse from having access to them. Some examples of commonly hidden assets include offshore accounts, investments, insurance policies, cash, and business assets.
If you have a financial agreement that was drawn up either before or after you were married outlining how property is to be divided in the event of your divorce, things may be much simpler. In certain cases, contingency clauses may complicate matters though.
If you are considering divorcing your spouse and want to make sure that all of your interests are properly protected, the first thing you need to do is get a consultation with an attorney that is experienced in high asset divorces. Your attorney will be able to explain the complexities and many steps that are involved in obtaining a divorce decree. Each state is different and has different laws, just like each couple and each divorce is different. Hiring an experienced high asset divorce attorney is the best way to understand the process of property division and all of the other components of your divorce. Getting a divorce is hard enough as it is, don’t force yourself to do it alone. Protect yourself and your assets with a qualified high asset divorce attorney.