Many people work hard to accumulate wealth during their lifetime. Married couples often hold joint ownership of financial assets and real property, so the division of these assets is an important issue in any divorce.
If your divorce includes the division of high-value assets, here are three tips that you can use to ensure the divorce process goes as smoothly as possible.
1. Work with an experienced attorney.
Handling the division of assets that are worth a substantial amount of money requires specialized knowledge and skill. In addition to filing paperwork in court, your attorney must be able to work in coordination with financial experts that can help determine the impact of dividing the wealth you have gained throughout your marriage.
Working with an experienced attorney will give you the ability to rest assured knowing that the negative financial impact of your divorce will be minimized.
2. Be prepared to trace assets.
When dividing marital assets, it's important that your attorney is able to trace each asset back to its origin. It can be beneficial for you to evaluate your marital assets and create a timeline for when each asset was acquired.
This timeline can help your attorney better determine which spouse has a stronger claim to individual assets so that he or she can prepare an argument that will help you retain ownership of high-value assets after your divorce.
3. Hire expert witnesses to testify on your behalf.
When it comes to handling the division of high-value real estate, stocks, bonds, or properties during a divorce, the court often relies on the testimony of expert witnesses with experience in the financial valuation of these assets.
You should make sure that you are prepared to hire expert witnesses who can speak out on your behalf to ensure that the court sees why you should be awarded certain marital assets following the completion of your divorce.
Going through a divorce can be a stressful and emotional trying experience. If you have accumulated a lot of wealth over the course of your marriage, handling this wealth during a divorce can be tricky. Be sure that you work with a family law attorney who has experience with high-value divorce, that you are prepared to trace each marital asset back to its origins, and that you hire expert witnesses to testify on your behalf if you want to minimize the negative impact your divorce will have on your financial future.
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