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How to Prepare for a High Net Worth Divorce

You may have been considering divorce for some time. If you have significant assets, it’s important to prepare sufficiently for a divorce that can be complicated and challenging.

Make an inventory of your assets, and get these each individually assessed, and evaluated. Identify all of your liabilities, and get these evaluated as well.

If you have a prenuptial agreement in place, you may be on a sound footing. However, it is also important for your attorney to go through your prenuptial agreement, and determine if your soon-to-be ex-spouse could spring any surprises on you. In a high net worth divorce, prenuptial agreements are often challenged.

The kind of assets that are eligible for division in a high net worth divorce, often, involve business interests, investment assets, retirement funds, and all kinds of other major assets. It is important to get these evaluated properly, and for this you need not just attorneys, but also business evaluators, tax advisors, and accountants.

Seek professional tax advice to make sure that your tax obligations after the divorce are kept to the minimum. You don’t want to save hundreds of thousands of dollars in alimony payments, and end up paying that amount in taxes. Expert planning is crucial in a high net worth divorce.

A high net worth divorce often does go to court. If your spouse presents you with a chance for a fairly reasonable settlement, discuss your options for a settlement well in advance with your Colorado family lawyer.

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