When a marriage is on the rocks, and significant joint assets are involved, the path to divorce can feel overwhelming. Both spouses may find themselves grappling with the emotional toll of a potential split and the daunting prospect of dividing a substantial financial portfolio. This situation can become even more complicated when the assets have been intertwined over the course of the marriage.
Consider a scenario where a couple, married for a few years, has accumulated a substantial amount of wealth together. They’ve invested in properties, joint business ventures, and shared accounts. As the marriage begins to unravel, both parties are faced with the difficult task of determining how to equitably divide these assets. The complexity of such a division is not only financial but also deeply emotional, as each spouse might have different ideas about what is fair.
A high-profile couple like Jennifer Lopez and Ben Affleck, who reportedly put their Los Angeles mansion on the market for $68 million before the news broke that they had filed for divorce, could face significant challenges if they’ve mingled their finances extensively. In such cases, the division of assets can become a contentious issue, especially if there is no clear distinction between what each party brought into the marriage and what the couple acquired together.
Do You Need To Protect Assets In A Divorce? Estate Planning Concerns Or Questions?
At Amaral & Associates, P.C., our attorneys have decades of experience asserting and defending clients’ financial interests under a broad range of circumstances. We are known for helping people navigate the divorce process and resolve other family law problems while minimizing legal costs, and at the same time exercising equal rigor to ensure our clients retain all they are entitled to under the law.
Asset protection may become a vital concern for you when preparing to get married or remarried, planning for divorce or evaluating what will happen should you die or become incapacitated. Our lawyers’ knowledge and skills extend to:
- Conducting asset searches and other investigative steps as necessary to ensure your spouse provides the full financial disclosure required in every Massachusetts divorce
- Performing thorough analysis of all issues associated with property and debt division in your divorce case, in order to define realistic asset protection goals and decide on the best path to resolution
- Drafting prenuptial and postnuptial agreements for clients who will bring significant assets into a marriage or have other valid reasons to proactively address how financial issues will be handled in the event of divorce
- Providing comprehensive estate planning services — including establishment of trusts and advance or crisis-driven Medicaid planning — for people focused on protecting loved ones, managing tax consequences and achieving other objectives
“Early planning” together with conducting an asset search on your spouse and their assets six (6) months or so before your divorce action is filed or you separate can significantly enhance the outcome of your case and preserve the assets to which you are entitled; assets that you will need to support yourself long into the future. We can show you what critical steps are necessary to maximize the outcome of your divorce in a clear and concise manner. Contact us today at (617)539-1010 to find out more information on what you can do to protect yourself prior to the commencement of your divorce, before it is too late.
You can find more information and tips on asset protection, equitable division of assets and liabilities, and other financial concerns in a range of articles by our attorneys.
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