With any high-asset divorce, there are many assets on the line. People in these situations need to do everything they can to protect their own interests. Georgia is an equitable distribution state, which means that you’re not guaranteed anything except what is perceived as your fair share of the marital estate.
As someone who is divorcing with a high net worth, it is usually a good idea to have accountants, attorneys and other professionals assist you. You’ll want to document your finances as well as where your money goes. There are a few extra steps you may want to take to guarantee there aren’t hidden assets or missed assets as well. Those include:
- Reviewing bank account statements
- Checking for retirement accounts
- Reviewing stocks and bonds
- Obtaining a credit report
Reviewing these things is important since you could identify assets you forgot about or that aren’t commonly discussed in your everyday life. There is also a possibility of identifying assets that have gone missing or that you didn’t know existed so that you can seek your fair share during the divorce.
What makes high-asset divorces complicated?
High-asset divorces are complicated because of the complex nature of these marriages. There may be many types of assets as well, such as real estate, stocks, bonds, retirement accounts and other assets. Businesses are often part of these marriages, which can further complicate a divorce.
If you’re part of a high-asset divorce, get the right legal advice. Making good decisions can help you protect your right to your marital assets and give you the financial stability you need in the future.