A high net worth divorce is complicated because couples have financial accounts, multiple properties, and complex business interests to account for. Legally, there is no difference between a standard and a high net worth divorce. But the possibility of a costly mistake increases when so many details are being considered and negotiated.
Disputes often arise over:
- Real estate properties
- Business interests
- Stocks
- Retirement accounts
- IRAs
- Investments
Mistake #1: Hiding Assets
It’s a legal requirement to honestly and fully disclose all assets and property during the divorce process. Divorce lawyers and judges have experienced every dubious tactic you can imagine. Any attempts to hide or transfer money to third parties will be discovered, and always to your detriment.
Mistake #2: Being Angry & Uncooperative
It’s easy to feel hurt and betrayed during the divorce process, but it’s important to keep all drama out of the courtroom. Being an uncooperative participant leads to an extended (and more expensive) divorce. By being civil, you can save money and foster an amicable relationship with you ex. This not only benefits you, but also any children you share.
Mistake #3: Rushing to Finalize Your Divorce
A high net worth divorce can be frustrating and stressful, but finalizing early may negatively impact your settlement. If you agree to unfavorable terms, it can devastate you financially for years to come. In fact, it’s not uncommon for people to impulsively agree to unfair spousal and child support payments, or an unequal distribution of assets.
Success Tactic #1: Hire the Right Attorney
Contact the Arnold Law Group if you require legal representation in a high net worth divorce. Our experienced Fresno divorce attorneys can appraise your assets, determine separate and community property, and represent you in court.
Depend on our 30 years of experience. Call the Arnold Law Group, APC at (559) 900-1263 to schedule a consultation.