When two entrepreneurial minds in Wisconsin marry, the results can be amazing. The couple works hard together to build something that not only supports their own individual ambitions but provides for their family. Over time, they develop not just financial attachments to the business, but an emotional attachment as well.
The danger of owning a credit card with your spouse while you are in the midst of a divorce is that you could end up on the hook for expenses generated by your spouse. With property and asset division on the horizon, the last thing you want is to be saddled with more debt. That is why in the beginning stages of any divorce in Milwaukee, one of the first steps to take is to separate your credit cards from your spouse.
Not only can a Wisconsin divorce be emotionally taxing, but it can also hit all your retirement and investment accounts hard. As a result, it is crucial that each soon-to-be-ex leaves the marriage with some retirement savings. At Brazil & Benske, LLC, we often represent clients going through a high-asset or complex divorce.
Preparing for a divorce can be incredibly hard for anyone, regardless of their financial circumstances or whether they have children. For certain couples, the process of divorce can be even more complicated, such as those who have a high net worth. If you are getting ready for divorce and you are in this position, you may have even more things to take into consideration and you could be especially worried about the potential financial repercussions of ending your marriage. By doing everything you can to prepare yourself, you may be able to ease some of your fears and even increase the odds of a favorable outcome.
Whether you have made a fortune by investing in the stock market or you have recently come across large sums of money due to cryptocurrency investments, you may be worried about how your divorce will affect your investments. This is a serious concern for many people who have significant assets and it is important to do what you can to make this transition easier. To be clear, divorce is often an incredibly difficult time in one's life, but there are different strategies that may help you protect yourself emotionally and financially. In Milwaukee and all over Wisconsin, recognizing these steps is an important part of approaching divorce.
While no one wants to imagine getting divorced before they’re even married, the sad fact is that many couples who are now madly in love will end up divorced sometime in the future. If you personally own a large amount of property and assets, this could mean losing things that are rightfully yours if you don't have a solid prenuptial agreement in place. Forbes explains how prenups work so you can determine whether this option is right for you.
For anyone who has decided to bring an end to their marriage, various questions may arise and we have covered many of the different topics related to divorce on this blog. For some people, however, splitting up with a spouse may be especially tough. Not only do some families face challenges related to children (custody battles, child support, etc.), but the financial concerns that divorce may bring up are especially problematic for some people, especially those with a high net worth. If you are approaching a high-asset divorce and you own a business, it is pivotal to understand how this move could affect you in the near future and down the road.
Anyone who brings their marriage to an end may face various difficulties, from problems related to their finances (property distribution, child support and alimony) to concerns about their child such as a custody dispute. However, some people face a particularly complex time when they work through the divorce process, such as those who are famous and regularly find themselves in the public eye. Whether someone is the CEO of a large corporation, a celebrity actor, an athlete or politician, the divorce process can become even more difficult to work through for some people who are famous, which underlines how pivotal it is to take the right approach.
Going through a divorce in Wisconsin is hard enough, but couples dealing with a lot of assets sometimes have an even harder job ahead of them. If you suspect your spouse is not being forthcoming when it comes to declaring assets, there are places you can look and ways to determine if this is the case.
Sometimes, bringing a marriage to an end can be incredibly tough and there are certain factors, such as whether or not children are involved, which can further complicate matters. However, some people may face additional challenges when they decide to split up with their spouse, such as those who have a high net worth. If you are preparing for a high-asset divorce, it is essential to understand some of the ways in which your experience throughout the divorce process may be more difficult and prepare accordingly.