Things to consider in a high asset divorce in Missouri

| Dec 23, 2019 | Divorce

When two people decide to marry, they typically do so with the intention that they will spend the rest of their lives together. While some couples may realize relatively quickly that their lives are not compatible, others may spend years building their lives before coming to that realization. While a divorce can be difficult as any couple goes through the process, those involving high assets in Missouri can be even more complicated.

One of the most important things a person seeking to end a marriage with extensive assets can do is to take action to ensure that he or she is fully aware of all assets. This includes anything of value, such as collectibles and retirement accounts. Once an accurate list is created, it is necessary to distinguish each asset as either marital or individual property. In many cases, the appreciation value of certain assets, such as a home, owned individually prior to the marriage could be considered marital property.

Some cases involving couples with a great deal of assets garners a great deal of attention. As a result, they could find information that they would like to be private subject to public interest. Fortunately, there are options to keep information private, such as requesting that information be sealed or working to settle differences outside of the courtroom.

Perhaps the most important thing that a person can do in the event of a divorce is to hire an attorney from Missouri who has experience with and knowledge of state law. Even if the one spouse controls all the finances or the couple lived on one income, the other spouse will likely have the right to have the costs of an attorney covered by marital assets. While the decision to end a marriage may be a difficult one, it is often in the best interests of all involved. Having an experienced professional helping with the process can help make it go as smoothly as possible.

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