As you move forward with divorce, you may look back and wonder what went wrong. Of course, this won’t stop you from looking forward to the future.
If you find yourself caught up in a high asset divorce, it’s imperative to understand your position and the steps you can take to reach a settlement in a time efficient manner.
You can get started by making a list of all the property that is to be divided. Keep this in mind: Your spouse may try to hide property in an attempt to keep it for him or herself. You need to be aware of this, and then bring it to the court’s attention if necessary.
Once you have a list of assets, make note of those that are community property and those that are separate. If you purchased the item together during the marriage, it’s considered to be community property. However, if it’s something you brought into the marriage, it may not be subject to division.
As you approach the property division process, don’t forget about your debt. This will also be divided between both partners, so make sure you take this into consideration.
You need to approach a high asset divorce with care, as you know that there will be many details to discuss as the days and weeks go by.
If you start out by getting organized, you’ll feel better about your ability to move forward in an efficient manner. When everything is said and done, what matters most is that you are satisfied with the end result.
Source: FindLaw, “Divorce and Property,” accessed Oct. 25, 2016