High net worth divorce can be complicated and stressful. That is why it is important to take steps to protect your assets and interests throughout the process. At our firm, we have guided countless clients to successful solutions. We want you to be aware of some steps you can take to prepare for a high net worth divorce.
In Order to Prepare for a High Net Worth Divorce, You Need To:
- Gather Records of All Your Assets
It is important to gather documents to show what is separate property and what is shared property. Separate property refers to property acquired prior to the marriage, while shared property refers to assets obtained during the course of the marriage. Separate property may include gifts from your family, inherited assets and property, and anything you bought personally before getting married. Documents you may need include wills, trusts, receipts and financial statements, deeds to real estate, and insurance policies.
- Stay Organized
Staying organized is essential to protecting your assets during a high net worth divorce. You need to have your information easily accessible and organized, and you need to keep track of all necessary information. Gathering your documents may take some time, and once you have them all in place, it is important to label them and to keep them in a safe and secure location.
- Keep Track of Attorneys’ Fees
Attorneys’ fees are part of the final total once the divorce has been settled. This means you need to have a detailed knowledge of attorneys’ fees throughout the process so you can be informed and know how much the final divorce is going to cost.
- Be Familiar with Your Spouse’s Debts
Just as the shared assets will be divided between you and your spouse, the debts will also be divided between you and your spouse. In order to avoid surprises regarding your spouse’s debts, it is important to get a full credit report for both of you. If you did not hold loans or credit cards jointly, you may be protected from the impact of your spouse’s debts. However, it is important to be aware of these numbers and to plan accordingly.
- Call Our Experienced High Net Worth Divorce Attorneys
In high net worth divorce cases, hiring an attorney is very important. An attorney can work with a forensic accountant, help you gather important records, and hold your spouse responsible for fraud or deception throughout the process. Furthermore, a lawyer can discuss your options and help you make informed legal decisions to protect your future financial stability.
If You Are Facing a High Net Worth Divorce, Goldweber Epstein LLP Is Here to Help.
At Goldweber Epstein LLP, we are passionate about meeting the individual needs of our clients. If you are facing high net worth divorce, our New York City divorce attorneys will guide you through the process. We will build your case, prepare necessary documents, and answer your questions every step of the way.
Contact our firm today to schedule an initial consultation.