You have decided to end the marriage and move on with your life. Before you take the next step, you should consider how the divorce would impact the various aspects of your life. If you and your spouse have considerable assets and properties, own businesses together, and have other stakes, you may have to deal with more issues. Because high-asset divorces are so complicated, it is essential to consider all relevant factors. One of the first steps is to consult an Ohio high asset divorce attorney, who can guide you on the process. In this post, we are discussing the key factors to consider before taking the plunge.

Seek legal advice

For high-net-worth divorces, hiring a lawyer is not a choice. You and your spouse cannot have the same divorce lawyer as there would be an inevitable conflict of interest. As the matters are more complex, you need to ensure that you have the right attorney on your side. Not all divorce lawyers can claim to have handled high-asset divorces, and therefore, experience and work profile are two things that you must discuss before engaging an attorney.

Consider prenuptial agreements

If you and your spouse had a prenuptial agreement, it would be enforced in your divorce. However, things may not be as simple as that. In many cases, people are pressured into signing prenuptial agreements, which is unconscionable if that were the case. Consult your lawyer on how you can deal with such circumstances.

Consider property division with care

You would want to get the right share of marital assets, but before any decision is made, consider how you would want to deal with property division. For instance, you and your spouse may share both tangible and intangible assets, and in some cases, it is also possible that one spouse is hiding assets and properties from the other. There are also tax implications, which could become a hurdle in the future. Talk to a CPA and your divorce lawyer to understand how to deal with the division of complex property.

Consider alimony and child support

Both alimony and child support are compound matters in any divorce. There is a statutory formula used for calculating child support, but there are aspects that the court will consider, such as the incomes of the spouses and the parenting time that each parent is willing to devote. Spousal support, or alimony, on the other hand, depends on aspects of the standard of living during the marriage, the incomes of both parties, and whether one spouse was dependent on the other.

If you have support-related questions, get the answers from your attorney.


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