How to Prepare for a High Net Worth Divorce

Divorce is rarely easy for anyone, but it can be extremely complicated for those with high net worth. People considered of high net worth have at least $1 million in liquid assets, meaning they can convert it to cash at any given moment. Because high net worth divorces tend to involve complex financial portfolios and potentially lots of property, they can usually be lengthier than the average divorce. However, there are a few ways you can prepare to make the process a little faster.

Gather Relevant Documents

The first thing you should do is prepare the paperwork for the divorce. You can do this by finding all documents concerning property, bank statements, loan documents, tax returns, insurance policies, and credit card statements. Likewise, you should gather information about any assets you share with your spouse, called marital assets. These could include bank accounts, homes, or businesses you and your spouse both contributed to during the course of the marriage. Marital assets are all divided equitably during the divorce, barring a signed prenuptial agreement stating otherwise.

Hire a Forensic Accountant

If you can’t manage to keep track of all your financial details, or you suspect your spouse is squirreling assets away, you can hire a forensic accountant to make a full report on all your financial assets. Forensic accountants are trained to follow the money, even when one spouse does his or her best to hide a bank account or secret lover.

Consult an Excellent Divorce Attorney

If you make more than your spouse does, there’s a good chance he or she will try to ask for spousal support during the divorce proceedings. If you don’t want to pay a sum to your ex every month, you should hire a skilled divorce attorney who can take your side during the process. A qualified Clearwater divorce attorney can help defend you in court or in negotiations with your spouse.

Talk to one of our experienced lawyers at Tinny, Meyer & Piccarreto, P.A. for a case consultation. We can offer you comprehensive family law counsel that will help you maintain your lifestyle and address all your family law needs. We treat our clients like family, so we handle every case as if it were our own. Let us address your questions and concerns in a consultation.

Contact us at (727) 245-9009 or fill out our online form to schedule a case evaluation today. We are available 24/7 to take your calls and answer your emails.