Divorce is on the horizon, and there’s a lot at stake. You and your spouse have acquired quite a bit of wealth and there are considerable assets that need to be divided. You’re concerned, however, that your spouse may not play fair.
What can you do to protect yourself in a high-stakes divorce?
Here are four of the top things you should do to prepare:
- Look at your prenup or postnup. If you have a marital agreement, you need to refresh your memory about its terms. You don’t want to be caught off-guard because you’ve forgotten something important.
- Gather up your financials. Don’t take a casual approach to this process. You may need to dig through tax records, credit card bills, bank statements, investment records and more. If your spouse is inclined to play dirty, they may be hiding something.
- Carve out a niche of your own. Set up a separate bank account, get a new email address and get a P.O. box where you can get mail. These steps can help you keep your business private once you take formal steps for a divorce.
- Decide on the level of privacy you need. Depending on your occupation or social standing and the circumstances of your divorce, you may not want your holdings or marital issues made public knowledge. There are ways to avoid that, including through the use of a private judge or mediation.
Finally, make an appointment to speak to an attorney who understands the complex nature of high-asset divorces. When you’re ready to divorce, it helps to understand exactly what issues may come into play as you move forward.
