Going through a divorce can be challenging and stressful, even in the best of circumstances. But it becomes far more complicated when a great deal of wealth is involved. High-net-worth divorces can be drawn out and damaging emotionally and financially. 

Just look at recent high-net-worth divorces like Bill and Melinda Gates and Jeff and MacKenzie Bezos divorces to see how significant assets are split. While you may never reach that level of wealth, there are plenty of reasons to protect your assets if you’re a high-net-worth individual. 

It might not seem like the most romantic thing to do, but protecting your assets in a relationship is a prudent step to take. We’ve put together five ways you can protect your assets if you and your partner decide to divorce.

Have Separate Bank Accounts

If you and your spouse have a joint bank account, it’s worth considering opening a separate one. Unfortunately, it’s relatively common during or just before divorce for one partner to drain a joint account. If this happens to you, it can leave you with nothing until you complete divorce proceedings. 

Having your own bank account means you will have a safety net if anything goes wrong. It’s not a place to funnel money from a joint account in the event of a divorce, but it will ensure you aren’t penniless. It’s a good idea to discuss this with your partner and suggest using your joint account for household expenses and keeping personal accounts for spending. 

Review Your Prenup or Create a Postnuptial Agreement

If you and your partner signed a prenuptial agreement, you must have it reviewed by your solicitor regularly. Often, assets in high-net-worth divorces can expand and become more valuable than when you signed.  Similarly, your wealth can decline over time, and your prenup needs to reflect that, too. Doing this ensures that your agreement is up to date and assets are shared fairly should your marriage go south. 

If you don’t have a prenuptial agreement, you can make one during your marriage. This is known as a postnuptial agreement. Discuss drafting a postnuptial agreement with your partner to formally set out the division of assets if you separate. While it might not seem like a romantic thing to discuss, a postnuptial agreement could strengthen your relationship.

Don’t Attempt to Hide Assets

It can be incredibly tempting to try to hide assets during a divorce — especially if you’re wealthy. People often try to squirrel away large amounts of cash in secret bank accounts or transfer assets to third parties. More often than not, people do this to protect finances before divorce proceedings start. 

But while it might seem like a great way to protect your assets, it’s highly unadvisable and can cost you in court. During divorces, and especially high-net-worth divorces, divorce solicitors will do a deep dive into your finances to find hidden assets. If they manage to find anything, the court is unlikely to look at it unfavourably. In fact, the judge will likely interpret it as an attempt to deceive the court and may make financial awards against you. 

Hire a Good Solicitor

If you’re a high-net-worth individual, then it’s reasonably likely that you already have a go-to solicitor. But if you’re going through a divorce that involves a great deal of wealth, it’s vital to secure the best divorce lawyers possible. 

High-net-worth divorces are often far more complicated than ordinary divorce cases. By hiring an experienced divorce solicitor, you can rest assured that they understand the intricate nature of high-net-worth divorces and will do everything they can to get the best outcome possible. 

Don’t Rush

Divorce proceedings can be tough, and it’s very tempting to rush through them to move on with your life. While it’s tempting to quickly agree to terms on the division of assets, liability and child support payments, you must take your time. Rushing is one of the easiest ways to destroy your finances; let your legal team fight your corner to ensure you get what you deserve. 

Be prepared that the proceedings could take months and do what you can to remain calm. Calm heads are always preferable in a divorce and can help to speed up the process. If possible, try to stay on good terms with your ex-partner to make everything much smoother. 

Whereas some will be wanting to buy crypto with cc broad match to make purchases, others may be intrigued by the money-making opportunities available with digital currency. Making a living from cryptocurrency is possible, but some factors need to be considered before embarking on a digital currency career full-time.

Different Ways of Making Money with Cryptocurrency

When many think of making money with cryptocurrency, they think of investment. Although backing digital currencies is an option, there are several other methods of making money with cryptocurrency.

Some may find that employing one method is enough, whereas others may need to use several approaches when making money with digital currency. Regardless of how you want to make money with crypto, there will often be an option that you can take advantage of which include but are not limited to the following.

Cloud Mining

In the past, cloud mining required investment in expensive hardware. There were also instances when cryptocurrency miners saw a decrease in earnings as more people were using the proof-of-work concept to make money.

Although there can be a lot of changes in the industry, a lot of opportunities can also arise, and cloud mining is one of the latest advancements made in the cryptocurrency sector. Cloud mining works by users renting hashing power from an established operation that allows them to mine coins without investing in expensive hardware.

However, it should be noted that the cloud mining sector has become awash with fraud, so while there are viable opportunities available, research is key when working considering cloud mining.

Operate Cryptocurrency Masternodes

Master nodes are complicated but play an integral role in many blockchains when validating transactions. First used on the Dash Network, the operation of master nodes can now be done on several networks.

Those interested in making a passive income from cryptocurrency master nodes need to ensure they have enough tokens to invest. Users also need to be mindful that withdrawing coins could mean you lose ownership of the masternodes.

When determining which masternode is worthwhile, the following factors must be considered.

• Daily Trading Volume
• Activity of Developer
• How Active is the Community?
• The Reputation of The Network
• The Potential Return on Investment (ROI)

Although the main goal of operating a masternode is to make a profit, a person needs to find a network that meets their requirements. A high ROI is all good and well but will not be of much use if the network is difficult to use. As such, you should ensure that it meets your requirements that can offer support if needed.

Proof-of-Stake

Although the terminology sounds similar to the proof-of-work, it operates differently. Staking allows those in possession of digital currency to stake coins for transaction validations in return for monetary rewards.

Cryptocurrency Lending

Those already in possession of digital currency can make a passive income by lending crypto to others.

Of course, there are risks associated with lending, but this is often the case when profiting with any type of currency. The money that can be earned with crypto lending will depend on three-factor which are as follows.

• The amount of crypto lent.
• The duration of the crypto loan.
• The interest rate.

As expected, the greater the amount, duration, and interest of the loan, the more potential there is for profit. Not all platforms will lend users money in the same way, so it’s advisable to do some research to find a lending option that meets your needs.

Do You Need Cryptocurrency to Make Money?

Despite the options available, there will be times when an investment is needed. This is another reason why research is so important when making a living out of crypto. However, those who are confident with the method they have chosen can purchase digital currency easily using Coindeck.

Coindeck is an innovative exchange that allows users access to a wide range of cryptocurrencies including Bitcoin and Litecoin. As well as being able to use a simple platform, Coindeck also ensures that the details of users are always safeguarded.

Regardless of whether you’re wanting to buy crypto with cc broad match for investing, making money with crypto, or making an online purchase, you will always find the currency you’re searching for when browsing Coindeck.