The decision to end your marriage comes with the understanding that this choice will have an inevitable impact on your future. One of the most significant changes will be to your lifestyle, especially if you were the lesser-earning spouse over the course of your marriage. There is a lot at stake during a divorce, especially for those who have a high net worth or own valuable property. Knowing how to defend your property interests is critical to your financial future and stability.
When there are valuable assets and significant property interests at stake, a divorce could get complicated. New Jersey spouses may believe they have a rightful claim to certain assets, and they each want to walk away without having to give up much of their current lifestyle. You have the right to a portion of all marital property, and you may also have a rightful claim to financial support as well.
Important steps for your financial future
One of the most practical ways you can shield your future interests is to prepare for what is ahead as soon as you determine to file for divorce. It is helpful to start considering your options and important details, such as what types of property you own and the location of important assets. Other helpful steps could include:
- Make a list of all assets, and determine whether they are joint assets or separate assets, as well as where they are located. You may also benefit from determining the value of these assets.
- Determine if the other spouse could have any additional financial responsibilities after the divorce is final, such as spousal support or child support.
- Understand that there will be a division of all marital assets, and a practical approach may help you prevent additional complications during your divorce.
In a high-net-worth divorce with much on the line, you will find it helpful to have guidance at every step as you make important financial decisions that could impact your future. Due to the complex nature of dividing valuable property and significant assets, an experienced attorney can be an important ally at every step of your divorce. The terms of your final order could impact you for the rest of your life, and your pursuit of reasonable, sustainable terms can benefit you as you look to your post-divorce future.