How do millionaires protect their assets in a divorce?

How do millionaires protect their assets in a divorce?

Profile photo for Min Austria
Min Austria
Assistant at Ascent Law LLC

If you're a millionaire, how do you protect your fortune in the case of a divorce? This has to be a common fear for millionaires, who would find themselves victims of one of the most common reasons people go broke: divorce. A recent study administered by the American Academy of Matrimonial Lawyers found that over 60% of all divorces in the United States involved a split of assets. In an interview with The New York Times, attorney Janine Pollack said that the number of lawsuits and time spent on these cases have both "increased dramatically" over the past decade.

In order to protect their assets, millionaires should consider methods such as moving assets into trusts and prenuptial agreements. A prenuptial agreement is a contract signed before marriage that lays out how spouses are going to handle their finances after they separate. A spouse who is considering getting married should make sure to consult an attorney about the benefits and drawbacks of signing a prenup in order to ensure that their rights are protected in case divorce occurs.

If you have any questions or need an Asset Protection Lawyer, please call this law firm for a free consultation.

Ascent Law LLC

8833 S Redwood Road Suite C

West Jordan UT 84088

(801) 676-5506

Utah Lawyer for Divorce Business Bankruptcy Probate Estates
Ascent Law helps you in divorce, bankruptcy, probate, business or criminal cases in Utah, call 801-676-5506 for a free consultation today. We want to help you.
https://www.ascentlawfirm.com

Location: Roosevelt, UT 84066, USA

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