Making the decision to divorce isn’t always an easy one for couples. People may think that the hard decisions will end once they file, but there are many more difficult decisions that couples will have to make before the divorce can be granted. After one or both spouses have filed for divorce, they will likely sit down and discuss a number of legal matters, including property division, child custody, spousal support and more.
Of the many divorce matters that couples have to discuss, property division is one that can certainly generate a great deal of stress. It is often difficult for parties to agree on how certain properties should be divided. And, if there is no prenup, it is quite possible that there was never any detailed discussion of property division prior the divorce papers being filed. With this being the case, before a court will render a decision on who gets what, each party’s salary, marital property and a variety of other factors will be examined and taken into account.
If one of the parties is self-employed, it may be more difficult to assess his or her earnings. One thing that can be done to help attorneys and the court determine how much a spouse is worth is an examination of bank statements and tax documents. This examination does not guarantee that one spouse will get more than the other in the divorce, but it does help make clear what each spouse makes. This information can play an important role in a judge’s final decisions on the matter.
When divorcing, if a person has a high net worth or there is a significant amount of property and assets that a couple has, the process may be a difficult one. With there being a lot at stake, people should have someone by their side who knows how high asset divorces work and what can be done to help their client get what is fair. If you are in a high asset divorce situation, an experienced divorce attorney may be able to represent your interests in working toward a fair settlement.