The financial complexity of a high-asset divorce

On Behalf of | Dec 19, 2022 | Divorce

When a marriage is over, a Virginia spouse will find it beneficial to take immediate action to protect his or her financial interests. This may be particularly difficult in situations where there is a significant amount of assets to protect. A high-asset divorce is complex due to the nature of the assets at stake and the amount of money they are worth, which is why it is critical to take the time to prepare for this process ahead.

Tips for seeking the best possible outcome

In a high-asset divorce, both spouses are likely to want to retain as much of their wealth and property as possible. However, each spouse is entitled to an equitable share of marital property. Whether in court or in negotiations, seeking the ideal property division settlement may be easier with the following steps:

  • If possible, try to be cooperative with the other spouse as this may lead to better negotiations.
  • Seek an out-of-court settlement before going to court as this will save time and reduce complications.
  • Have an accurate appraisal of all marital assets in anticipation of fairly dividing all marital property.

The right approach to a property division settlement in a high-asset divorce depends on the details of the individual situation and the goals of the individual Virginia spouse.

A strong post-divorce future

There is a lot on the line during a high-asset divorce. A spouse will benefit from working with a Virginia divorce attorney to understand the options he or she has. An assessment of the individual case will reveal how he or she can seek an outcome that will allow for a strong and stable post-divorce future.