High Asset Divorce Tips

divorce couple holding money

How to Avoid Costly Mistakes During Your Divorce

High asset divorces require more work and attention than standard dissolutions of marriage. The process involves considerable wealth, with many of the assets being complex, such as trust funds, royalties, and more.

While a great deal of outside assistance is necessary to handle much of the process, there are steps you can take to ensure the divorce is handled as efficiently and painlessly as possible.

Be Patient with the Process

With so many assets and such a high valuation of property, it’s natural that the process will be longer as you and your spouse work to compromise on the terms of your divorce. Still, it’s important that you stand your ground and assert your desires. Mindlessly agreeing to terms to speed up the process can lead to larger regrets down later on.

Be Transparent with Your Spouse and Lawyers

Spouses are expected to be compliant and cooperative in divorce. A large part of this includes each partner’s willingness to fully disclose their assets and debts. Failure to do so only further complicates the process and hinders your likelihood of a beneficial settlement.

Keep the Matters Private When Speaking with Uninvolved Parties

Most couples who undergo a high asset divorce are, to some degree, a public figure. In order to preserve your privacy, you can request documents be sealed and thus unviewable to those uninvolved in the process.

Beyond keeping the official documents private, spouses should commit to refraining from posting about the divorce on their personal social media channels because anything you post can be used against you at trial.

Stay Organized

As a high asset divorce will be a lengthy and complicated process you want to make sure you stay organized. Some spouses even start separate email accounts so all legal communications are in one place so they can be easily referenced. Being organized will ensure that you do not miss important deadlines or communications from your legal team and in the long run same you money.

Understand the Role of an Appraiser and Accountant

A family lawyer will do the majority of the work by drafting all legal documents, keeping up with all court filings, attending hearings, taking depositions, advising you on what you are entitled to pursuant to Florida law. However, in a high asset divorce often other professionals will need to be engaged. Two types of professionals that are often engaged are appraisers and accountants.

An appraiser will help you determine the value of marital assets, while an accountant will be able to offer further insight into the effects the divorce and asset acquisition will have on your taxes and other costs.

Our attorneys are available to provide professional assistance throughout the divorce process. Contact Beaulieu-Fawcett | Newell Law Group, P.A. for help today: (561) 600-5711.

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