Some mistakes high asset divorcees should avoid

Law Offices of Stephanie L. Mahdavi A Professional Law Corporation Divorce

Divorce is never an easy decision. And when dealing with emotional issues such as asset division, many divorcees tend to make some common mistakes. If you are filing for a high asset divorce, make sure you consult a Camarillo high asset divorce attorney first. A simple consultation can answer many of your questions. Most mistakes can be avoided with good legal counsel.

High net worth divorces involve more mistakes as there are more properties and assets at stake. It is common to experience feelings of anger, resentment, and disappointment. After all, this is the person you had planned to share your life and your wealth with. It can be heartbreaking to make decisions that will exclude your former life partner. That’s why having an attorney handling your case is often the best approach to equitable property division.

Agreeing too quickly

A highly contested divorce case can be too overwhelming, especially if your former spouse tends to disagree with everything. He or she will try to make you feel guilty so that you give more than you should. It is easy to agree so you can get away from your ex faster but don’t. Ask your Camarillo high net worth divorce attorney what’s the best course of action in your particular situation.

Feeling guilty

When you give more than you should you tend to feel guilty. Whether that involves waving your spousal support rights or giving away assets that are important to you, this is not a wise approach. While you don’t want to start an unending fight with your spouse, you should also stand your ground and protect what’s yours.

Hiding assets

This is very common in many divorce cases. Some divorcing couples may feel it is safer hiding valuable assets. Hiding assets from your ex are dishonest and illegal. If the court finds out, you will lose your trustworthiness.

Gathering important financial documents

There are some financial documents required by law, which you will need to provide. If you don’t have your information up to date, you may be giving up more than you are supposed to. While gathering these documents may take some time, it is an essential step that will beneficiate you in more ways than you can imagine.

Tax implications

It is important you consider your taxes when filing for a high asset divorce. You can either agree on the spousal support without taking into consideration your taxes or you will be taxed on the distribution of your assets.

The importance of investigation

There are times when some assets or income is hidden. You need someone with experience in these types of cases to find out if there are hidden assets that are not evident in current statements. While every divorce case is different, anybody can make the above-described mistakes. Hiring proper counsel to investigate your circumstances prior to filing for divorce can help you avoid other legal conflicts that may arise in the future. Don’t hesitate to contact us. We will be pleased to answer any questions you may have.

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