High asset divorces occur when a large amount of money, investments, property and other expensive items are at stake. Divorces of this magnitude can come with plenty of mistakes and one or both parties could feel betrayed, lied to, disappointed, angry and vengeful. Here are some common mistakes made in high asset divorces.
One of the most common, and fraudulent, mistakes is hiding assets. Some people try to hide one or more of their assets by moving it to a business partner or a child from another marriage. This will kill your credibility in court and put you under intense examination regarding every other item in your divorce.
Listening to your friends or family who have experienced divorce is a big mistake at any level, but even more so when it comes to high asset divorce. Just because a friend got millions in a divorce or another friend did not have to pay a dime and kept all their money doesn't mean the same will happen in your divorce. Each case is completely different.
Someone who agrees to pretty much everything simply to obtain the divorce has made a big mistake. Agreeing to financial terms or splitting high assets simply to end the relationship and move on with life can lead to devastating financial consequences.
When you fill out your financial affidavit during a divorce you need to be extra careful. Make sure all of the information is correct, as up to date as possible and includes every single asset you own. Any mistakes made on this affidavit can cause havoc during the divorce proceedings and division of assets.
Failing to hire the right lawyer can also affect the outcome of your high asset divorce. You don't want to hire the first lawyer you come across. You also don't want to hire the most aggressive lawyer. Take a look at a lawyer who comes highly recommended, who has your best interest at hand and who has experience dealing with high asset divorce in Ohio.