June 17, 2021
Divorce can bring about many complicated feelings from both parties. It can be even more difficult to prepare when you don’t have a clear picture of what’s expected of you in court. Getting legal advice and going through that experience can help you separate and start a new chapter in your life.
Sometimes in divorce cases between two high-net-worth individuals, the lines can quickly get blurred about how funds and assets will be divided.
Following these few key steps should be able to guide you through this aspect of the divorce case.
1. Prepare Plans
First, calm down and create a plan. It can be hard to pinpoint what your goal is if there are many emotions building up. Take a deep breath and consult with someone you trust about what you plan to achieve in the divorce case and what you hope to end up with. Divorce changes almost every aspect of your daily life, but what result do you really want?
Speaking with an experienced divorce lawyer can help you understand what will happen with your assets and what moves you will be able to realistically make. It can be really stressful in the beginning, but proper preparation and choosing the best divorce lawyer for you should equip you with great odds in court.
2. Get Financial Advice
Having a lawyer is excellent for handling the legal aspect of things, but your divorce may encompass a lot of financial expertise. It’s highly likely that you and your spouse had a financial advisor to assist you. Contact that person or hire a new advisor who will be able to help you with your finances and get monetary advice for only your benefit.
Having a financial advisor can help you identify ownership percentages and have a basis of where you currently stand in terms of money management and taxes. Plus, divorce does have an effect on your taxes; being given a rough estimate of the tax consequences can give you better control over your personal finances and direction on where you’ll be after the divorce case.
3. Take Initiative
Communication with your spouse is a must for the divorce case. Contact him or her, or let your divorce lawyer contact his or her attorney regarding a compiled list of assets, properties, and businesses that you two may share. Taking this initiative will be a well-perceived approach in the divorce case.
Plus, disclosure is a much better alternative to keeping most of that information in the dark. A lack of transparency could be deemed as an attempt to hide things and wouldn’t bode well for the court’s decision. Consult your attorney on what’s best to do to protect your high net worth status.
Conclusion
Money and ending a marriage can be complex for many people. Consulting and working with professionals will help you ensure that you’re not alone in preparing and going through your divorce. Being truthful and having a pragmatic approach should leave you with no regrets.
Getting a divorce in Jacksonville? The Dorsey Law Firm in Florida offers divorce lawyers who can help tackle your divorce cases. Call us today for a consultation!
