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Tips for dividing your property in a divorce

On Behalf of | Sep 13, 2020 | High Net-Worth Divorce

Going through a high-asset divorce isn’t an easy task, especially if the marriage was a longer one. You have to think about all the aspects of your life that have to unraveled from your spouse’s life. One thing that you’re going to have to split up is the property that you’ve amassed during the marriage. This process takes a lot of thought, but it also comes with a lot of emotions.

When you’re getting ready to handle the property division aspect of the split, take the time to make a list of all the assets that have to be addressed. While your home is likely one of your most valuable assets, retirement accounts and sometimes investments can also be very valuable.

It may be a good idea to work with a forensic accountant and other financial professionals who can help you and your attorney evaluate the options that you have to handle this. It’s imperative that you have everything valuated so that you’re able to ensure you’re getting the settlement that you deserve.

You should also remember that you need to remain watchful about what’s going on with accounts you and your spouse still have jointly. Neither person should be making major withdrawals or moving assets around during the divorce. In fact, any major purchases or moves should be taken care of before the divorce filing or wait until after the process is done.

Each decision you make during the property division process should center around how you can improve your future. While you might be tempted to think about your emotional ties to the assets, this might not lead you to the decisions that are in your best interests.

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