High asset divorce can be complicated but manageable
Having accumulated a considerable amount of wealth or number of assets during a lifetime is often seen as an accomplishment. Of course, it can also make certain situations more complicated. In particular, high asset divorce often presents more challenges, especially during property division, than cases with fewer assets.
If Kentucky residents are going through this type of endeavor, they may want to give themselves any advantage that they can. If they created a prenuptial agreement, years may have passed since it was signed. As a result, it may be wise for individuals to go over those documents again in order to remember what decisions were made. They may also need to determine whether certain parts of the agreement or the entire agreement may be invalid.
It is also important to remember that not all assets are the same. Even if the same amount of money is involved, funds in a savings account are different from that same amount in a retirement account. Therefore, parties need to understand the differences in valuation and how interest, taxes and property division laws could affect the distribution of property during divorce.
Of course, one of the biggest advantages Kentucky residents could give themselves during their high asset divorce cases is to enlist the help of experienced attorneys. These legal professionals understand the complicated nature of these cases and can help concerned parties consider their options. They can also assist in gathering important information about assets, breaking down property-related documents and speaking with financial experts or other needed professionals for additional insight.