All divorces come with the risk of making mistakes. However, in a high asset divorce, avoiding mistakes can make all the difference in one party receiving a fair settlement. The problem for many Connecticut residents is that they do not know what a mistake is and what is not a mistake. This is especially true for those who have never experienced a divorce.
Learning more about divorcing with wealth and valuable property can help you avoid making mistakes that could leave you with an unfair property settlement. Choosing an attorney with experience handling high asset divorces is your first line of defense. In the meantime, it is a good idea to familiarize yourself with some of the most common mistakes people make in high asset divorces.
- Failure to look for hidden assets your spouse may be withholding
- Letting revenge or anger cloud your judgment
- Agreeing to a settlement just to get the divorce over with
- Failure to consider debts as well as assets
- Hiring a lawyer without a proper consultation
- Failure to understand tax implications
In the end, it is not about taking your spouse to the cleaners or emerging from the divorce victorious. Instead, it is about being fair and honest while striving for balance. When a high asset divorce proceeds with these goals in mind, you have the best chance of coming out of the process peacefully and with a good mindset.
The divorce attorney you choose will provide you with additional information that can help you avoid costly mistakes. If you have concerns about your high asset divorce, it is best to talk about these issues with your lawyer as early as possible.
Source: CNN iReport, “Top 10 Mistakes in High Net Worth Divorces,” Joey Battah, accessed Oct. 30, 2017