This is the reality of modern times. After a few years of sunshine, many couples experience a marital tempest where the common saying “what’s yours is mine” comes to an end. Let’s face it, everybody likes to protect their territory. Even animals do, when their freedom is taken away from them. When it comes to high asset divorces, these battles are real and may need the experienced legal intervention of a Westlake Village high-asset divorce attorney.
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This is what we are taught during childhood. But there comes a time in life, when these principles are tested. Divorce that involves wealthy individuals need to be handled with fairness. These are complex cases that may involve a number of issues. A divorce will fall under the high asset category if:
The parties own land or properties.
Retirement and investment assets
Any other assets
It takes time to study a high asset divorce. Gathering important financial documents, statements, credit card and accounts statements, retirement funds, and any other type of income, will take time. Individuals who own businesses will need time to hire expert advice that will value these businesses.
Protecting affluent clients
It happens all the time. Many clients are worried that the other party may be siphoning assets. It’s common seeing money removed from bank accounts, properties sold, and seeing assets disappear. This is why is important you hire a Westlake Village high-asset divorce attorney as soon as possible. An attorney can protect your assets and ensure that the final agreement is fair to both clients.
Choose your battles
Divorce is never easy. It’s even more difficult when numerous assets are at stake. Whatever you do, choose your battles wisely. It’s tempting feeling you are entitled to receive everything. Focus on what really matters to you. Perhaps the children and home are more important to you. If so, focus on these issues and don’t invest time on anything else. You want the process to be less stressful. Some tips that may help you include:
Avoid hiding your assets – You will lose your credibility and the assets uncovered will be seen as fraudulent.
Protect your business – Your business is one of the most important assets. Take the necessary steps to protect it.
Determine the value of your assets – Experts can get involved and help you determine the true worth of your assets.
Don’t take revenge – This is one of the most crucial aspects of a high-asset divorce. You still fight to protect your rights but don’t make decisions based on anger.
Why an attorney?
It’s essential having an attorney to deal with complex issues during a high asset divorce. One of the common issues in these sensitive cases is one of the divorcees wanting more than what they are entitled to receive. It all depends on how amicable they are with one another. If the relationship is volatile chances are the divorce process will be longer and more complicated.