Mistakes you should take care to avoid in high-asset divorce

On Behalf of | Jul 29, 2018 | Uncategorized |

No one looks forward to the divorce process, especially the property division phase, which can be complicated if significant assets are involved.

You probably want to get through the entire ordeal as quickly as possible, but mistakes could be costly, and bad decisions could wreak havoc with your future.

Push guilt aside

Perhaps you were the one who wanted the divorce and you feel guilty, even if ending your marriage was justified. Do not let guilt interfere with that to which you are entitled in the divorce settlement. Think of your divorce in a practical way, as if you were closing down a business.

Resolve to investigate

In divorces that involve high net worth, the possibility of hidden assets exists. Your spouse may be more sophisticated—and crafty—than you are in terms of your marital finances. Consider engaging the services of a forensic accountant or another such specialist to investigate. Your attorney can help you with this.

Forget agreeability

You may be the kind of person who goes out of your way to be agreeable. People ask favors of you and you cannot seem to say no. When it comes to divorce, you may think that agreeing to certain terms, such as the amount of alimony your spouse offers or the division of assets he proposes, will make the process go faster. Think these things over and take your time. Remember that being too agreeable may have a devastating effect in the long run.

Ignore friendly advice

Just the thought of divorce may make you feel sad, angry, confused and overwhelmed. Well-meaning friends who have been through divorces of their own may try to offer advice based on their experiences. Listen if you must, but keep in mind that every divorce is unique. Rely on legal expertise and your own instincts. By using common sense to better avoid mistakes, you can look forward to a secure financial future.