The divorce attorney at The Howze Law Firm, LLC, assists you in finding solutions tailored to your needs and offers compassion backed by years of experience to assist your family whether it is dealing with divorce, custody, or financial stress.
(Newport, SC, August 2022) In an update, the divorce attorney at The Howze Law Firm explains that, while no divorce is the same, couples with large assets may face different challenges in a divorce.
When you have significant assets such as personal property, real estate, and savings, it can be difficult to reach a fair asset division agreement. High-net-worth may have its advantages, but it can be difficult when it comes to divorce proceedings.
The consequences of a divorce between a wealthy couple can be devastating. High-net-worth divorces can be more contentious and prolonged because they are more complex than a typical divorce and involve more assets to divide.
If you are considering a high-net-worth divorce in South Carolina, there are a few things you should consider, and it is always much better if you do so under the guidance of a dedicated divorce lawyer.
If you file for a divorce, each spouse may end up with significantly different financial assets and liabilities after the proceedings.
After you and your spouse have decided to divorce, you should immediately assess your financial situation. At the start of the divorce proceedings, you and your spouse must present a formal document to the court listing all assets.
Keep copies of all important documents, such as tax returns and property deeds. A divorce lawyer can assist you in filing so that you do not overlook anything.
Hiding assets from the court during a divorce is never a good idea. Although you may be tempted to keep certain assets that you believe are yours, concealing assets from the court may result in serious legal consequences. If you lie in the financial document you present to the court, you could be found in contempt of court.
Your divorce attorney can help you identify any risks or opportunities associated with filing for a divorce and can provide guidance on what to do if disagreements arise about financial settlements or parenting time arrangements.
There are ways to help with the tension between the couple over finances. Contact The Howze Law Firm, LLC for more assistance.