3 Mistakes to Avoid in a High Net Worth Divorce Case
Posted on Jul 12, 2018 5:55pm PDT
A high net worth divorce is complicated because couples have financial
accounts, multiple properties, and complex business interests to account
for. Legally, there is no difference between a standard and a
high net worth divorce. But the possibility of a costly mistake increases when so many details
are being considered and negotiated.
Disputes often arise over:
- Real estate properties
- Business interests
- Stocks
- Retirement accounts
- IRAs
- Investments
Mistake #1: Hiding Assets
It’s a legal requirement to honestly and fully disclose all assets
and property during the divorce process. Divorce lawyers and judges have
experienced every dubious tactic you can imagine. Any attempts to hide
or transfer money to third parties will be discovered, and always to your
detriment.
Mistake #2: Being Angry & Uncooperative
It’s easy to feel hurt and betrayed during the divorce process, but
it’s important to keep all drama out of the courtroom. Being an
uncooperative participant leads to an extended (and more expensive) divorce.
By being civil, you can save money and foster an amicable relationship
with you ex. This not only benefits you, but also any children you share.
Mistake #3: Rushing to Finalize Your Divorce
A high net worth divorce can be frustrating and stressful, but finalizing
early may negatively impact your settlement. If you agree to unfavorable
terms, it can devastate you financially for years to come. In fact, it’s
not uncommon for people to impulsively agree to unfair
spousal and
child support payments, or an unequal distribution of assets.
Success Tactic #1: Hire the Right Attorney
Contact the Arnold Law Group if you require legal representation in a high
net worth divorce. Our experienced
Fresno divorce attorneys can appraise your assets, determine separate and community property, and
represent you in court.
Depend on our 30 years of experience. Call the Arnold Law Group, APC
at (559) 900-1263 to schedule a consultation.