Berman & Asbel, LLP

Savvy financial tips for the high asset divorce process

Pennsylvania couples who are planning for divorce have a lot to consider. For those who have accumulated highly valued investments and other assets, property division probably ranks high on the list of their concerns.

When considering the best course of action, it is important to keep in mind that there can be a difference between the assets that one is entitled to and which assets make the most financial sense to retain. Within a high asset divorce, thoughtful advice and action can help both parties disentangle their assets in a way that leave both spouses in a stable financial situation after the split.

When going through a divorce, it is easy to become overly influenced by the range of emotions that come into play. However, this is a time in which clear-headed decision making is of utmost importance. Whenever possible, a collaborative effort is the best approach. Choosing to cooperate can help spouses put aside unrelated disputes to create a mutually beneficial settlement.

The importance of these decisions may be best expressed in the reality that splitting certain types of assets can result in the loss of as much as 50 percent of the value of the holding. When viewed from this perspective, it becomes clear that simply slashing assets down the middle may result in less wealth for both parties. A divorce attorney with experience handling high asset divorces can work to ensure that assets are split in a manner that reduces taxes and retains wealth.

For Pennsylvania couples in a high asset divorce, pursuing the help of available resources can lead to more secure post-divorce finances. This kind of action can also greatly reduce the stress associated with the division of assets, and help both spouses rest assured that their financial needs are being looked after. This can be especially important in families in which one spouse handled the finances, leaving the other uncertain about the family's holdings.

Source: Investor's Business Daily, "Financial Advisers Help Split Assets During Divorce," Gary M. Stern, Jan. 25, 2013

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