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Common issues to check in a high asset divorce

Ending a marriage is never easy, and when it involves a complicated estate with large amounts of money, businesses, properties and other complicated assets, it might need professional assistance. Having the right guidance may help to avoid the typical hurdles of a Kentucky high asset divorce. While protecting the high-value assets, there will also be cars, the dog, the kids, visitation rights, alimony and the house to consider. One thing that can jeopardize a person's post-divorce financial future is agreeing to anything just to get away from the situation.

Guilt is another aspect that can move a person to give away more than what is necessary. Advisors say dissolving a divorce is similar to the closing of a business, and emotions must not be allowed to play a role in the process -- even though it sounds cold. Hiding assets can have a detrimental impact on the credibility of that spouse and may reduce the chances of a reasonable divorce settlement, and so will the failure to give a proper account of all assets and liabilities.

Some advisors say many high asset divorces involve one spouse who uses sophisticated ways to hide assets. For that reason, it might be wise to investigate, even if nothing is uncovered. The circumstances of each divorce are unique, and accepting advice from friends and family -- based on their experiences in divorce -- could be detrimental.

When it comes to seeking help, the most appropriate step to take might be to retain the services of an experienced Kentucky divorce attorney. A lawyer who is skilled in the navigation of a high asset divorce can recognize a spouse who is asking to receive more than what he or she has the right to claim. A seasoned attorney can protect the assets of the client while making sure that nothing is left unaddressed.

Source: ireport.cnn.com, "Top 10 Mistakes in High Net Worth Divorces", JoeyBattah, Accessed on March 10, 2017

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Tasha Scott Schaffner, PLLC - Attorneys at law

505 Centre View Blvd.
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Phone: 859-491-1011
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