All divorces are extremely stressful and take a great deal of emotional willpower. However, when you are involved in a high-asset divorce, there is much more at stake, and there is more complexity. This is why it is important to make sure that you are fully prepared and know how to make a case for what you deserve.
In divorce settlements, both spouses are known to act irrationally or vindictively. When this is the case, mistakes can happen because people trust their own emotions over the law. The following are some tips on how you can get the most out of your high-asset divorce.
Concentrate on the cost of maintaining your lifestyle
Although alimony is a large consideration in any divorce, it is usually not greeted with the correct amount of importance. Maintaining the same quality of life as you are used to after a divorce is finalized is your right and it is important that you reiterate this in the negotiation process.
Make sure no misjudgments are made on life insurance
One common mistake that divorcing couples often make is their underestimation of life insurance during divorce proceedings. Many simply do not view it as an asset and give it away freely. However, it is a highly valuable commodity that should be treated as such in the negotiation process, if a divorcing spouse wants to strike a competitive deal.
If you are going through a high-asset divorce, preparation is everything. Make sure that you conduct all the research you need so that you can be well-equipped to make a case.
Source: Forbes, "Getting The Most From A High-Dollar Divorce," accessed Feb. 01, 2018
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