Massachusetts couples who plan on divorcing will certainly be facing hurdles along the way. However, as someone who is involved in a high asset divorce, you will face unique hurdles that others with a smaller net worth will not necessarily have to deal with.
FindLaw takes a look at three tips that can be used to help you tackle a high asset divorce. The first one is to keep track of all your assets, both individual and shared. The hardest part of a high asset divorce is the division of said assets. This is especially true if your assets have many different sources, such as businesses, stocks, retirement funds, or inheritance. One of the easiest ways to make things less difficult is to know exactly who owns what, how much each person has, and whether it is something that is to be divided, or something the individual can keep to themselves.
Figuring out division is also important. State laws differ on what property you can keep for yourself and what you will need to divide with your spouse.
Keeping things private is also important. The more assets you have, the more attention your divorce may get. If you don’t want people discussing the nitty-gritty details of your financial situation, then you can have certain documents sealed by the court. This way, only those involved can access the information within.
In addition to the above, having an attorney can be a help. They are well-versed in navigating the complex terrain of high asset divorce and can help you make the right decisions that will spare you from undue hassle.