We are very glad to meet with clients by phone or virtually in order to reduce unnecessary travel or limit in-person contact until further notice. Your peace of mind and safety is our first priority. Our thoughts are with you and your family during these challenging times

The Attorney For Every Stage In Life

Four ways to prepare for your high-net-worth property division

On Behalf of | Jun 2, 2022 | divorce |

If you’re about to go through a divorce, then your financial well-being is at stake. This is especially true if you and your spouse have a significant number of assets. And the property division process is going to set the stage for your financial health for some time to come. We know that the mere thought of this can be stressful. So, the question is are you prepared to take the steps necessary to ensure that you recover your fair share of the marital estate?

Have you positioned yourself for a successful property division?

If you’re like a lot of people in Delaware, then you’re probably unsure of how to answer that question. Don’t worry, though. Here are some tips that may help you protect your interests and your ability to recover the marital assets that you deserve:

  1. Scrutinize financial records: First, you’ll want to make sure that you’re able to gain access to the marital financial records. By doing so, you can figure out not only how much money you and your spouse have in the bank and investment accounts, but also whether there are unjustified and unexplained withdrawals and expenses. If you see suspicious activity in your jointly held accounts, then you may want to start asking questions.
  2. Consider whether assets are being hidden: If you see questionable financial activity, or if a family business has suddenly suffered unexpected losses, then you might want to consider whether your spouse is trying to hide assets from you. This happens in far too many divorce cases. You might be able to locate hidden assets, though, and loop them back into the property division process by spotting red flags and investigating them further.
  3. Think about the sacrifices that you’ve made: Remember, the property division process in Delaware is focused on fairness. Therefore, if you’re able to show that you gave up your education or your career to raise your children or support your spouse’s education or career, then you may have a stronger argument for a greater portion of the marital estate. Carefully think about the evidence that will show the full extent of the sacrifices that you’ve made.
  4. Articulate your standard of living: Property division and alimony seek to allow the parties to maintain the marital standard of living post-divorce. So, as you’re preparing to negotiate or litigate your property division, think about how you can portray the marital standard of living and what you need to maintain it.

Gather the evidence that you need to support your position

If you want to position yourself for a successful outcome, then you’re going to need strong legal arguments that are supported by compelling evidence. Where do you find that evidence? In most cases, you’re simply going to need documentary evidence that shows your marital assets and financial positioning. But you might also need to prepare yourself to testify. As you prepare your case, you need to be comprehensive and anticipatory of your spouse’s arguments. Fortunately, this is something that an experienced attorney can help you with.

Do you need help crafting your strategy?

Navigating the divorce process can be complicated for numerous reasons, including the fact that it’s often emotionally charged. To ensure that you’re not missing anything in your case, and to create the best arguments possible under the circumstances, you may want to consider working with an attorney who is experienced in handling high-asset divorces.

We know that choosing an attorney isn’t easy, as there are many lawyers to pick from and it might be hard to differentiate them. But solo attorneys are often better positioned to give you the individualized attention that you need and deserve in your case. If that type of guidance sounds like something that you’re looking for, then please continue to research your representation options so that you can make the fully informed decision that is right for you.