A divorce is never one that’s expected or on the cards when two people decide to get married. It’s a vow they take at the altar that many would never think to break, whether intentional or not.
Divorce though is common and it affects a lot of married couples whether they choose to divorce immediately after getting married, some years down the line, or even decades down the line. Protecting your assets is something that’s important to do whether or not you’re the breadwinner of the family. As a married couple, there are certain rights you have that are important to protect.
Here are some top tips for protecting your assets during a divorce.
Consider Prenuptial Agreements
A prenuptial agreement is something you put in place prior to getting married. It’s an agreement that ringfences and ties certain assets from being shared. It means a lot of the assets and ownership of those assets are already agreed upon prior to the marriage.
Typically, anything earnt after marriage though isn’t tied into this prenup and so may be included in the divorce proceedings. Having a prenup isn’t for everyone but it might be worth having if there are some considerable assets and ownership of assets tied to just one person or both for that matter.
Protect Your Rights to the Family Home
When it comes to the family home, there are certain rights that you’re entitled to and it’s something that you should review carefully without just agreeing to something your partner has suggested.
Look at the rights you have when it comes to part ownership, full ownership, or no ownership of the family home. There will often be discussions regarding the family home that you’ll want to ensure your voice is heard and that you’re not wrongly pushed out of it.
Get a High-Net Divorce Lawyer
With any divorce that involves high-net-worth individuals, it’s often appropriate to get a high net divorce lawyer. Those that specialize in certain earnings and asset brackets are often better than just getting a generic lawyer within divorce law.
Consider this if you’re wanting to get a more specialist and knowledgeable approach in this area, especially if it relates to you or your partner.
Try to Come to a Fair Agreement With Your Partner
Sometimes, getting lawyers involved can result in a lot of low blows and cold responses to certain discussions. It’s worth speaking to your partner, that is if you’re on good speaking terms, to discuss anything you’ve got concerns or reservations about.
Coming to a fair agreement on who should get what and what should be shared out, particularly when it comes to matters of the home’s possessions is worth doing without lawyers.
Avoid Hiding Assets
Hiding assets is never going to amount to anything good and when kids are involved, it can result in certain animosities being held towards that one person hiding them. Try to avoid doing this and be open during the process.
Protecting your assets is important so make sure you’re approaching your divorce with care and caution.