Today, many couples choose to get divorced, and the division of assets is a major aspect of any divorce. Sometimes, this can be resolved quickly and easily. But, the more assets a couple has, the more complicated the situation can become. If a couple has a combined net worth of $1 million or more, their divorce will be considered a high net worth divorce. Read on to learn more about high net worth divorces in Pennsylvania and what you can do to protect your assets.
What Assets will be Considered in a High Net Worth Divorce?
There are a variety of assets that will need to be considered during the divorce process. Some of these assets may include real estate property, rental property, stock options, bonds and mutual funds, retirement savings, pensions, and businesses and partnerships, among others. Because there are many large assets to consider, and you may have a lot at stake, it is important to have the support of a strong and skilled legal team.
How Can I Protect My Assets?
Ideally, the protection of your assets will have been established by a prenuptial agreement. This is a document that determines how your assets will be split between you and your future spouse in the event of a divorce. Many people do not create prenuptial agreements because of the negative stigma surrounding them. Sometimes, it is difficult to convince your spouse to sign a prenuptial agreement, and it may be an uncomfortable conversation to have. Regardless of the stigma that surrounds these agreements, they can be a good idea for both parties involved, and do not by any means insinuate a future divorce. If you get married without a prenuptial agreement and come to regret that decision, you can create a postnuptial agreement. This is the same document, simply created and signed after you and your spouse are married. Some couples choose not to create prenuptial or postnuptial agreements.
With such large assets on the line, it is important to protect yourself in the event of a divorce. The Law Offices of Ilkhanoff & Silverstein will work to ensure that you receive what is fair. Contact us today to create a prenuptial agreement, or discuss your high net worth divorce case.
CONTACT OUR EXPERIENCED PENNSYLVANIA FIRM
We understand that going through the legal system alone can be both confusing and highly stressful. That is why it is our job to help you through every step of the process ahead. For years, we have been helping clients throughout Lancaster County and its surrounding areas through a wide range of legal matters, including personal injury cases, criminal defense matters, family law issues, estate planning law matters, and more. If you need legal assistance, we are here to help. Contact Ilkhanoff & Silverstein today.