skip to Main Content

What to consider before filing for a high asset divorce

While marriage can be hard, getting divorced is even harder. When many Maryland couples get divorced, they end up fighting over all the assets accumulated throughout the marriage. Besides asset division, there are many aspects involved in a high asset divorce, especially if the couple has been together for many years. Those looking to call it quits may want to consider the following before filing for a high asset divorce – and possibly regretting the decision.

A divorce is something that should not be taken lightly. It can emotionally and financially affect a person for many years. Therefore, couples should do whatever possible to make their marriages work. This may including speaking with a pastor or marriage counselor to get things back on track. The couple should also determine what caused the marriage to go wrong and whether or not this issue is worth fighting about.

A couple should not divorce if there are still feelings of hurt or anger. This is such a huge decision – one that should be made with a clear conscience. The couple should feel at peace with the decision to divorce. There should not be any unresolved feelings.

If the decision is made to file for divorce, preparation is key. Divorces have been known to cause financial ruin, so each party should understand his or her legal rights. They should be aware of their assets, even intangible ones such as bank accounts, stocks, bonds and retirement income. If children are involved, there will likely be disputes about custody and support.

Divorce has its advantages and disadvantages. Although it is a powerful legal action, there are no guarantees. Some couples find their divorce beneficial, while others have regretted the decision. Be sure to put in the effort and exhaust all options first before filing for a high asset divorce.

Source: Huffington Post, “5 Questions You Need To Ask Before You Decide To Divorce,” Dr. Phil, Oct. 24, 2014

Related Posts: Divorcing and splitting your retirement account can be hard, Navigating the process of a high-asset divorce, A personal approach for even the most complex high asset divorce, Why a high asset divorce needs a detailed separation agreement, How does a high asset divorce impact my tax liability?,
0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments
Would love your thoughts, please comment.x
Back To Top