It goes without saying that the decision to divorce is a big one. Beyond separating your life from the person you have been married to, this change can impact every facet of your life. Everything from where you live, to how your children spend their time to the financial aspects, divorce is decision that can change just about any way you live your life. However, that’s not to mean that these can’t be positive changes.
The key is to have a divorce settlement that works for you and considers your perspective, needs and situation while considering a ‘fair and equitable’ division of assets. Many people aren’t sure where to start when it comes to their high-asset divorce. A great launch point is to determine your and your spouse’s financial situation. This means determining the exact amounts of assets and liabilities under your possession.
For you cannot count what you do not know, so it’s important to have a full accounting of all assets and liabilities. There may be things that are of more importance than others. At The Pickel Law Firm, LLC, we take this question to heart in terms of what it means for all our clients. Your personal situation will determine what strategy is best when approaching a high-asset divorce.
Consider of course that negotiation or compromise could be part of the process of settling a high-asset divorce. It is called property division, and that means the property is to be divided fair and equitably. However, that doesn’t mean you can’t achieve what you want. It’s all about strategy, the give and take.