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Questions your lawyer will ask as part of your high asset divorce

| Aug 27, 2020 | High Asset Divorce |

Suppose you’re fortunate enough to own multiple cars, luxury cars, art collections, expensive jewelry and other valuable assets. You’ve probably worked very hard to earn enough money to buy those assets. You probably want to avoid losing them at all costs. Holding on to them can be difficult if you’re facing a divorce. If you’re fortunate, then hopefully, your divorce lawyer will find that there are specific steps you took pre-marriage to preserve your assets if you were to divorce on down the line. If they do, then this could save you significant headaches in your Fort Myers divorce case.

One of the first things that your divorce lawyer will ask you about in the wake of your split is whether you signed a prenuptial agreement with your spouse before walking down the aisle. It may likely include details about potential alimony that you agreed to pay, the ownership of different assets and other potentially financially-draining money matters when you and your attorney drafted it.

Your divorce attorney will also likely want to see any financial agreements and estate planning documents you may have drafted leading up to your wedding. The arrangements that you signed are probably going to shape how your case turns out.

Hopefully, your legal counsel or portfolio manager advised you of the implications of commingling assets once you marry before you walked down the aisle. Even if you have a prenup in place, using your sole property to pay for joint expenses is a no-no. Any commingled assets such as those may become both yours and your spouse’s when you do this. Your net worth may decrease significantly if this happens.

One of the reasons your attorney wants to see your estate planning documents is to know whether you listed your spouse as a beneficiary or heir to your estate. If they’re listed there, and you die before you finalize your divorce, then those assets you have could automatically go to your ex even though that wasn’t your original intention.

Having wealth can be both a blessing and a curse, especially for your Florida divorce. An attorney can help you sort out your finances so that you can gain a better perspective as to what you can do to preserve everything possible for yourself once your split is signed off on by a Fort Myers judge.

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