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Can you avoid future struggles during a high net worth divorce?

Florida couples know that divorce will impact every aspect of life, particularly finances. For couples with a large amount of valuable assets and wealth, finances are the source of much contention and difficulty. When navigating a high net worth divorce, it is worthwhile to secure the assistance of a lawyer who understands how to approach such sensitive and important issues. 

If a high net worth couple is divorcing, it is likely that they have a prenuptial agreement. If not, it can save both time and money to settle as many issues as possible out of court. This allows a couple to have more control over the outcome and their individual financial futures. When negotiating a financial settlement, it is important that individuals do not allow emotions to guide their decision making. Decisions and agreements reached during divorce negotiations will have a permanent impact on a person's finances.

To avoid financial disaster after a marriage ends, it is important to consider easily overlooked factors, such as retirement accounts and debt. Coming out of divorce, individuals should be certain that they are not carrying an unfair amount of marital debt. If saddled with a disproportionate amount of debt, it can be harder to rebuild and move forward after divorce.

It is easy to be short sighted during divorce, focusing on small issues instead of the bigger picture. When going through a high net worth divorce, keeping long-term financial stability as the main goal can help an individual make smart, practical decisions that will benefit his or her future. With the correct approach, a Florida individual can not only avoid financial trouble but thrive after a divorce.

Source: bankrate.com, "10 ways to avoid divorce disaster", Steve Santiago, Accessed on April 20, 2015

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