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3 tips for high earners facing divorce

Divorce is a difficult time no matter how much or little you earn. But if you are in a particularly high income bracket, there are particular challenges to your divorce that you need to be aware of.

If you are the primary earner in your marriage, you may have concerns over how much money you will need to provide your ex as part of your divorce. This is not an easy question to answer because all situations have their own unique factors. However, taking your high-income status into account as part of your divorce strategy is important. Here are three tips to keep in mind as you move forward in your divorce and choose a divorce attorney:

1. Treat your divorce like you would a business

Although divorce is inevitably an emotionally trying event, as a high earner, it is important that you keep decision-making regarding your divorce on a rational and not an emotional level, especially when it comes to finances. When you make decisions out of emotions like anger, they may make you feel emotionally satisfied, but they are likely not the most fiscally sound or efficient for your long-term future.

2. Hire an attorney who works with high-asset divorces

Not all divorce attorneys are the same, and some specialize in divorces with high earners. It is important to seek out this type of divorce attorney because they are particularly equipped to handle issues you may run into in a high-asset divorce, especially when complex assets are involved.

3. Consider alternatives to litigation

Not all divorces have to be battled out in the courtroom. In fact, as a high earner, you may value the privacy that an out-of-court mediation or arbitration can provide. A collaborative divorce may be possible if you are willing to open the divorce process to a skillful negotiation with the assistance of a collaborative law specialist. In addition to the benefit of privacy, a collaborative solution can save you time and money.

If you approach your divorce from a rational rather than emotional standpoint, and you keep in mind that as a high earner, your divorce has elements that should be handled by a specialized attorney, you will be well on your way to moving through your divorce process successfully with as little stress as possible.

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