Getting divorced is a big, life-changing decision. It’s not an easy one to make and shouldn’t be taken lightly. But, you also shouldn’t rush to any decisions, especially when it comes to a high-asset divorce. You might want to rush and get the paperwork finalized, but this can be detrimental to the outcome. Here are the common mistakes to avoid in a high-asset divorce.
One of the most common mistakes made in a high-asset divorce case is agreeing to any terms to simply conclude the process. Agreeing to the terms of spousal support, child support or division of assets quickly in order to get away from your spouse or be with someone else can have a negative impact on your finances.
A high-asset divorce means that there are plenty of assets to be divided prior to the divorce going final. Never try to hide assets in a divorce, even if you think they aren’t worth too much money. Hiding assets is illegal and can only put you into a much more difficult situation.
As much as your friends will try to help you through a divorce and offer their advice, do not listen to it. Some might say they know people who’ve gotten millions in a divorce. You can’t believe everything you hear. Each situation is different. Your case will be much different than those of your friends and family members.
Guilt is a feeling most people going through divorce will experience. Because of this, they might be willing to give more than they should to their soon-to-be ex-spouse in the division of assets. This is a big mistake. Do not let guilt dictate how the assets are divided in a high-asset divorce. You will only look back with anger and resentment down the road if you let this happen.
Our attorneys are experienced in dealing with high-asset divorce cases. Call us today to schedule a consultation about your case in Columbus, Ohio.