Going through a divorce is a challenging and emotional process for everyone who faces this situation. It can be particularly complicated if you and your spouse have significant assets.
With a thorough understanding of your rights, you can navigate complex financial matters, value and divide your home, investments and businesses and determine support.
Intricate Financial Issues
A high-asset divorce presents unique considerations because of the various types of assets involved. You want to protect your rights and maintain financial stability. Dividing large estates, family businesses, real property, high-value retirement accounts and other investments requires in-depth knowledge, careful deliberation and longer negotiation times.
Property, Assets and Debts
Protecting your financial interests when working toward a divorce settlement is vital for your future. Ohio is an equitable distribution state that works to divide your marital assets fairly. Marital property comprises all assets you or your spouse acquired during the marriage. It does not include assets held by either partner before getting married. A judge determines how to divide your assets and assign debts based on the details of your case. Creating offsets equitably dividing assets and liabilities can help you preserve your wealth.
Divorcing for high-earning professionals can present distinctive concerns. You need to safeguard substantial assets and draft a settlement that ensures your ability to continue thriving in your profession. You may require complex child custody arrangements to accommodate your ability to earn a living.
When your divorce involves financial complexities and uncommon legal challenges, you must understand how to value and divide your assets fairly to keep your financial portfolio intact.