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How can you protect assets in a high asset divorce?

When residents in Kentucky like you are in possession of high assets, it's normally a good thing that can enrich your day-to-day life and make your living situation much more comfortable. However, high assets can become an unmistakable burden if you and your spouse ever decide to get a divorce.

There are many ways that you can protect your assets during the divorce process. Forbes states that one of the best ways is to keep track of your money flow. Who's making the most money? Who's contributing the most to the household, financially speaking? Were any big ticket items like cars or electronics purchased solely by one person, or were most things joint purchases? Knowing where your money is, where it comes from, and where it goes will help keep asset division fair.

Related to that, it's also important to ensure that all parties are being honest. Hidden assets can skew the asset division starkly, making it less fair to one party than the other. Moreover, the dishonesty can result in tricky legal situations.

Valuation experts can also help you out, especially because they're a neutral party. These experts examine your assets to determine their true value, which can help both you and your partner out. The benefit of hiring these experts is that they know the latest methodologies and metrics and can give you the most accurate description possible, all while maintaining an even opinion that isn't influenced by either party.

Dealing with high asset divorces can also be high stress. However, the right preparation can help cut through a lot of the stress you might experience and can land you with an overall better deal than you might have otherwise had.

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