There are many mistakes you could make when going through a high net worth divorce. While no divorce is easy and many are not pleasant to go through, the reality is that you could lose more than expected if you’re not careful about what you do next.
One of the biggest mistakes people make is not heading to an attorney’s office when they’re served with divorce papers. Even though it costs money to have an attorney work with you, the likelihood is that it’s going to be significantly less expensive than if you try to go it alone. When large amount of money, stocks, your business, assets and other factors are involved, there’s no room for mistakes.
What are some mistakes to avoid?
One fairly obvious mistake to avoid is agreeing with anything just because you want to get your divorce over with. Yes, a divorce is hard and can be emotionally devastating, but agreeing to whatever your spouse wants isn’t the answer. Whether it’s because of guilt or other reasons, you may feel like you’re obligated to give your spouse more, but you shouldn’t go wild. Your attorneys can help you work out a fair settlement.
Another thing you should avoid doing is getting angry and deciding to get revenge on your spouse. Anger is a great motivator, but it’s also hurtful. Remember, if you drag out the divorce, you’re costing your spouse money and you’re costing yourself money, too.
With so many potential mistakes possible, it’s always a good idea to work with someone familiar with the divorce process. Your future could depend on the decisions you make now.
Source: CNN, “Top 10 Mistakes in High Net Worth Divorces,” Joey Battah, accessed May 11, 2018
