Be Prepared: High asset divorces often take longer

Like many others in Utah, you never dreamed your marriage would one day end in divorce. You had the best of intentions to stay married for the rest of your life. Then, life threw a few major curveballs your way and your relationship did not withstand them. You have high hopes that your children will be able to adapt to their new lifestyle as well as possible. In fact, you and your spouse are likeminded concerning their upbringing, so you don’t expect parenting-related matters too cause much trouble in proceedings. 

It would be nice if your entire divorce process would run so smoothly although you’re not convinced it will when it comes to marital property division. You know that high asset divorces can be a bit complicated and you’re worried your spouse is going to try to give you the short end of the stick when it comes to negotiating a fair and agreeable settlement. Understanding this state’s property division laws and knowing where to seek support can place you one step ahead as you move toward the future. 

Organize your documents ahead of time 

Nothing is more stressful than scrambling around at the last minute to hunt for paperwork, tax information or other finance-related documents that the court says you need for property division proceedings. Even if you’re not the most organized person in the world, the sooner you compile the necessary documents and financial information, the better since full disclosure of all assets and liabilities will be key to a successful settlement. 

Prevent asset hiding 

A forensic accountant can be a great asset to help make sure all parties are playing fair when it comes to disclosing assets. This person can also help you determine the exact value of your assets as well as track any suspicious transactions or behavior if you think your spouse is trying to stash money aside or otherwise keep assets from being subject to division.  

It’s better to be thorough 

It’s understandable that you want to settle things up in court then go your own way. Waiting for the court to issue a final divorce decree may cause you stress. Just remember that a high asset divorce is more complex than other divorces, and you’d rather the process be thorough and correct the first time around.  

You’ll likely encounter many changes as you build a new future with your children. If you have a strong support network in place, there’s no reason to think that future will be less than bright and happy. By being proactive to cover all bases during asset proceedings, you can keep stress to a minimum and overcome any obstacles that arise.