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Divorce and investments: 5 key tips

Dividing assets during divorce is about more than your bank account and your family home. Many people have much of their high net worth tied up in investments. Do you know how these get divided?

You do not want to miss out on what you deserve, so here are five tips that can help.

Find out if you owe any taxes

You may not have known, but your spouse may not have paid the right amount in taxes on investments. As such, the division process could be as much about splitting up debt as anything else.

Watch out for hidden assets

Does your spouse think you do not know much about your real financial picture? He or she may try to hide investments and other assets. Look for red flags and make sure you know what to do if you suspect any deception.

Learn as much as you can

Many times, one spouse controls the finances and the other does not pay much attention. If that's the role you took during marriage, you must learn as much as possible before the divorce.

Check your prenup

Your prenuptial agreement may help. If you signed one, look into it and see how investments were handled and what rights you have.

Start planning your own investment

You do not have to take your spouse's approach. Consider your own future after the split and begin planning financially to put yourself in the best possible position.

Dividing complex assets can get tricky, and you need to know all of the rights and options you have.

Source: US News, "10 Tips for Handling Investments and Divorce," Lou Carlozo, accessed May 10, 2018

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