Nothing screams caution like a high-asset divorce. No matter how you look at things, your net worth and assets have an impact on everything you may hope to gain in the settlement regarding property division, child custody and child support and alimony or spousal support.
Consider the unique ways divorce can affect your financial standing and use the following tactics to minimize conflict and reap the rewards in a high-asset divorce.
Follow the money
The law requires divorcing couples to provide full disclosures about their finances. Having wealth can make the task of critically examining all asset and income sources cumbersome and daunting. However, taking the initiative and doing the necessary footwork to learn the complete picture about your marital assets can make it easier to prevent hidden assets and other complications that can hurt you financially in a divorce.
Get in the game
The last thing you may want to do is talk to your spouse, but not communicating with your spouse by meeting them at the table can tank your divorce settlement fast. Put away the anger and contention and start negotiating. Carefully consider all offers and solutions to reach a settlement agreement that is most advantageous to your post-divorce life.
Do not believe every rumor and myth you hear about high asset divorces. Your wealth does not have to put you at a disadvantage in your divorce. Consider the matters that are important to your side of the divorce and seek out solutions that protect your personal wealth.
