Clement Law Center - Federal Way Family Law Attorney
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Working in tech and divorcing puts complex assets at stake

| Jun 3, 2019 | Uncategorized

If you work in a high-paying tech position and are facing a divorce, you likely have many financial concerns. While having a lucrative job comes with many perks, it means that the end of your marriage is probably going to be more complex. Complications often arise in high-asset divorces due to the fact that more assets are at risk. The stakes are much higher when it comes to the consequences of property division and support payment decisions. 

High-net-worth divorces tend to be more expensive, lengthy and contentious. But there are some steps you can take to protect your assets during a complex-asset divorce.

Obtain a clear picture of your finances

Assessing your financial situation and assets is a necessary step in every divorce. But it is even more important when more assets are in question. Having a complete understanding of your assets, liabilities and overall financial situation will help you make better decisions to protect your interests. Start with your bank account statements, credit card statements, retirement account details, pay stubs and tax returns.

Do not hide assets

As the high earner in this situation, you may be afraid about losing a significant amount of your net worth. It is a possibility that your spouse will try to get as much from you, but you should not let any fear lead you to make unwise decisions. Hiding, falsifying or lying about assets is unlawful and will only hurt you in the end. 

Avoid settling too quickly

Due to the complexity of your finances, the split may take longer than you wish. And while you should not let your divorce drag out unnecessarily, you also should not make the mistake of settling in haste. Avoid the temptation to finalize everything so you can put it behind you. Agreeing to terms regarding the division of assets and support payments can have negative impacts on your short- and long-term finances. 

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