Getting started with the process of marital breakup can understandably be stressful in Maryland. This is particularly true for those embarking on a high-asset divorce. Fortunately, a couple of smart moves early on can increase a divorcing individual’s chances of achieving a positive outcome in both the short term and the long term.
For starters, people who are going through the process of divorce may want to take thorough inventories of the assets they have acquired during their marriages. For instance, they can list all of their shared assets along with these assets’ approximate values and acquisition dates. They can find information on assets’ values in the account statements associated with these assets or in their tax returns.
Next, it may be expedient for individuals who are going through divorce to take a close look at which assets may be in their best interest to hold onto. For instance, they may find it beneficial to keep cash rather than holding onto the family home. Understanding which assets may help them the most financially down the road may help them to make informed decisions during the divorce proceeding’s asset distribution process.
The best scenario during a high-asset divorce is for both parties to come to an agreement on how to split their property. By choosing negotiations or mediation, they may be able to avoid further court intrusion and the stress that often comes with going to trial. Of course, in some cases, avoiding trial is not possible. In either situation, an attorney in Maryland will take the necessary steps to pursue a financial outcome that will best help his or her client in the years ahead.
