Steps to Follow in Filing a High-asset Divorce
With more money, there are usually more things to worry about. There is just generally more: more paperwork, more red tape, more to manage and be aware of. So it stands to reason that some of the most complicated divorce cases are high-asset divorces. They are often complicated, often messy, and throwing the emotion inherent in a divorce into the mix never eases things. While every divorce comes with its own unique challenges, High-asset divorce cases are usually not very
But it is vital that individuals who are considering a high-asset divorce, or find themselves in the midst of one, do not bury their heads in the sand. The rigors of a divorce case are temporary. You will have to live with the orders of the final divorce decree for the rest of your life. This will likely impact your financial wellbeing, where you live, potentially even how often you have access to your children, if a custody case is also involved.
Yes, there may be a complicated road ahead. But an experienced attorney can help you navigate through any tempest that the dissolution of a marriage can throw at you. it cannot be overstated how important it is to pull through a high-asset divorce and come out the other side on good footing. You could have spent years, even decades, building your marital estate with your partner. Do not let your future financial well-being be left to chance.
Below we discuss some of the important steps you should know so you can successfully forge a way through your high-asset divorce case in Tennessee.
- Engage with a Reputable Attorney
A high-asset divorce will affect your life. The final settlement or court order will impact your finances and potentially other life areas as well, such as your access to your children or your ownership of your business. When we are talking about your life – you owe it to yourself to have a legal expert in your corner. This is particularly important if your ex-spouse has retained legal counsel. Regardless of whether you settle your case through some form of outside-of-court arbitration, or you take it all the way through a completed divorce trial, having an experienced attorney will make a big difference. Your divorce will run more smoothly and quickly than if you take on this feat alone. This is particularly true in high-asset divorces, which often require the additional support of other professionals such as forensic accountants. Your attorney will be familiar with all of the players needed on the board to get you to your best possible outcome.
- Read and File Financial Records
Come to understand the state of your finances before filing, or as soon after filing as possible. It is important that you understand your financial landscape. Gather documentation that shows your joint bank accounts, assess the household budget, inventory your assets and note where they are located. Collect tax returns, credit statements, bank statements, etc., that paint a documented history of what your financial portfolio looks like.
- Plan Your Future
In a high-asset divorce, your life post-divorce will likely look different. Just like any divorce, your income stream will likely be different after the divorce, and you will have new costs to absorb. Remember as you begin to set up for a new life that costs will be associated with alternate housing, supporting another household, potential costs of alimony or child support, etc.
Contact Fort, Holloway Rogers
Contact the experienced Franklin high-asset divorce lawyers at Fort, Holloway & Rogers today to begin discussing your case and your best steps moving forward.
Sources:
stylecaster.com/entertainment/celebrity-news/1618295/sofia-vergara-net-worth/
law.com/newyorklawjournal/2023/12/05/protecting-children-of-divorce-against-weaponized-social-media-part-3-how-automatic-orders-against-the-use-of-harmful-social-media-offer-protection-for-children/?slreturn=20240319204145
