What Is a High-Asset Divorce?
A high-asset divorce is when the parties have significant assets, such as property, investments, and retirement accounts. This kind of divorce often involves complex financial arrangements and can be challenging to resolve without the help of an experienced attorney. If you are facing a high-asset divorce, knowing what to expect and how to protect your interests is important.
Common Obstacles Involved in High Asset Divorces
Several potential obstacles can make high-asset divorces more complicated than other types of divorces, such as:
It can be difficult to agree on who gets which assets and how debts should be divided. This is especially true if one spouse is more financially savvy than the other or if there is a lot of bad blood between the spouses.
In addition, there may be hidden assets that need to be uncovered during the divorce process. This can happen when one spouse tries to hide money or property from another to keep it out of the divorce settlement. This can complicate matters further and make reaching a fair agreement for both parties involved even more challenging.
Another obstacle that can arise in high-asset divorces is the issue of alimony. The divorce details may order one spouse to pay alimony to the other after the divorce is final. This can create a financial burden for the spouse who is ordered to pay alimony, especially if the couple has a significant income disparity.
Finally, child custody can also be an issue in high-asset divorces. If the couple has children together, they will need to agree on who will have primary custody of the children and how visitation will work. This can sometimes be complicated by the two spouses' different lifestyles or parenting tactics.
How Can I Pursue a High Asset Divorce Fairly?
If you are facing a high-asset divorce, it's essential that you work with an experienced attorney who can help you navigate these waters correctly. There are attorneys who specialize in high-asset divorces and understand how to handle these cases effectively. They can help you understand your options and pursue a fair settlement for both parties involved.
Additional Tips for Pursuing a Fair High Asset Divorce
- Gather all relevant financial information ahead of time to prepare for future challenges.
- Hire an experienced attorney who specializes in high-asset divorces.
- Be willing to compromise on some issues to reach a fair agreement for both parties.
- Put your children's best interests first when making custody decisions.
- Stay civil with your ex-spouse throughout the process so you can effectively communicate and negotiate with them.
Los Angeles Divorce Attorney
Pursuing a high-asset divorce doesn't have to mean engaging in an all-out war with your ex-spouse. With proper preparation and legal guidance, you can achieve a fair settlement that works for everyone involved.
At Stolar Law Group, our firm has been practicing family law for 40 years, which has allowed us to tackle all kinds of divorces, including those involving extensive assets. Contact us online or give us a call (818) 600-6534, so we can assist you in this challenging process.