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Tips for high-asset divorce to help your financial future

There's no denying that divorces aren't easy. Emotions run high, and the stress of splitting assets can make both parties agitated and stressed. While most couples who divorce can agree on some things, it's likely that there are aspects of the divorce that you will not agree with.

An attorney can help you in times where negotiations seem to be at a standstill, even if it's for a short consultation. Taking the time to know if you're making a good financial decision can mean the difference between regretting your decision and appreciating it.

When you're involved in a high net worth divorce, the stakes can be high. Large amounts of money, businesses, property, and other assets are waiting for you to receive or be denied of them. There is a huge potential for errors in these divorces because of the values involved. To focus on the long-term benefits, both parties need to take emotions out of the equation. You simply can't make a decision in a fit of rage or because you want to get out as fast as possible; it's not good for you or your future finances.

Here are a few tips. First, don't agree to just anything to make the divorce end quickly. This can impact you financially in ways you may not yet appreciate. Second, don't let guilt drive you to make decisions that ruin your financial prospects. Don't forget to investigate and consider tax consequences; you want to make sure all assets are being properly recognized by the courts and that, if you receive them, you can afford the taxes you'll need to pay in Georgia.

Source: CNN, "Top 10 Mistakes in High Net Worth Divorces," Joey Battah, accessed Feb. 26, 2016

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