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Play an active role in your high asset divorce

The manner in which you approach your divorce could have a significant impact on your case's outcome. If you choose to have a hands-off approach and simply see where proceedings and court decisions lead, you may end up with a settlement you do not find acceptable. However, if you take the time to learn about your case and prepare to play an active role, you may have a better chance of more favorable outcomes.

The latter approach may be especially useful if you are facing a high asset divorce. Whether you own a business, your spouse owns a business, you jointly own a business or have accumulated wealth together or separately through other means, you have a lot at stake.

Making preparations

When it comes to having an active role in your divorce, you can start preparing from the moment you and your spouse made the decision to end the marriage. Some steps you can take to help yourself include the following:

  • Gather and review important documents: If you created a prenuptial agreement, you may find it useful to obtain a copy of that agreement and review its terms to fully understand it. You may also want to obtain and review property deeds, titles and other ownership documents, which may prove useful in proving marital and separate property.
  • Consider finding an attorney: High asset divorces can be particularly complicated, and having legal counsel early on can help you find important financial information, understand your options and take the necessary steps.
  • Understand your asset values: Remember, a certain amount of money in one account may not equal the same amount of money in another account. Additionally, you need to understand your business's value, if applicable, and the value of other assets as these values can greatly influence many areas of your case.
  • Enlist the help of financial professionals: In addition to an attorney, financial professionals can also help you understand valuations and other parts of your finances.

Going through a divorce can be difficult, and doing so without the right help can make it even harder. Speaking with a Minnesota attorney may help you understand how state laws will affect your case and how you to do your part to prepare and protect your assets as you move forward through the marriage dissolution process. You certainly do not want to be taken advantage of during this complex time, and having the right help could make a considerable difference.

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