Carroll L. McCauley III

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3 mistakes to avoid during high-asset divorce

On Behalf of | Dec 8, 2016 | Divorce, Property Divison

When your marital estate falls into the high-asset category, your divorce process could prove more complicated than for those individuals with a lower-worth estate. Because you have likely worked hard to achieve your wealth, you probably do not want to have needless mistakes during your divorce leave you with less than the property to which you are entitled.

Therefore, you may want to work toward avoiding these three common mistakes:

Accepting any agreement

When the negotiations become difficult and drawn out, it may seem as if agreeing to the latest terms could help reduce the stress and help the process move forward, even if you do not find the terms wholly satisfying. However, taking such action could come back to haunt you in the future. Though the divorce process may seem overwhelming and stressful, remaining vigilant and diligent could help you avoid making hasty agreements.

Letting anger take over

Just as you should avoid letting stress get the better of you, you may also want to work on keeping your anger in check. Though you may want to hurt a soon-to-be ex-spouse because he or she hurt you, by making decisions in efforts to hurt the other party, you may inadvertently hurt yourself. The impacts of your decisions can be long-lasting, and you may not want to consider the divorce courtroom the place for revenge.

Failing to look for hidden assets

When it comes to high assets, individuals may find it difficult to part ways with any of their wealth. As a result, a party may try to hide assets or funds in hopes of keeping them from going through property division or losing them to alimony payments. Therefore, you may want to take the time to ensure that your spouse discloses all assets. If you do not fully investigate disclosures, you may miss out on assets to which you could potentially be entitled.

You may find it difficult to attend to every aspect of your divorce on your own, especially when considerable wealth is involved. Each decision made can have a considerable impact on the outcome of the divorce, and one mishap could leave you facing a divorce settlement with which you feel unsatisfied. However, you can take steps to ensure that the margin for mistakes remains narrow.

With the assistance of an experienced Florida divorce attorney, you could gain insight into strategies for staying level-headed and ensuring that you achieve the divorce terms that your desire.