Residents in Massachusetts who have a high net worth are also going to run into unique hurdles during your divorce. Kajko, Weisman & Colasanti, LLP, are here to explain what sort of troubles you may be facing due to your assets.
As you know, when you get a divorce, your assets will be divided between you and your spouse. This can be a headache for anyone, especially when it comes to things like retirement savings, 401k plans, or military benefits. However, divorce only gets more complex as your net worth grows. A few of the things you’ll have to worry about that other couples might not necessarily have include:
- Stocks and bonds
- Investment properties
- Commercial real estate
- Business ventures
- Residential homes and properties
Deciding who gets what can be especially tricky if you have multiple properties, expensive investments like cars, or if you and your partner both run a business together.
Another point of contention is alimony. Often times in high asset divorces, one spouse may attempt to hide funds from the other in order to skew the amount of alimony they should be paying. This can further complicate an already tricky situation.
If you risk considerable financial losses during your divorce because of your net worth, you may want to read our web page on high net worth divorces before proceeding. You will be able to get inside information from experienced professionals who are here to help see you through this troubling time with as little damage done to you as possible.