For most married couples, parting ways isn’t the most difficult part – it is often dealing with the divorce process and handling the division of assets that can be stressful.
A divorce that involves assets of substantial value can often present serious challenges to both parties involved.
With the two parties battling it out and unable to reach an agreement on important decisions such as the division of assets, the process surrounding a high asset divorce can become a nightmare.
The Law Offices of Aliette H. Carolan focuses on helping you get a fair portion of the assets and makes the divorce process as smooth as possible.
The 8 Most Common Mistakes Made during a High Asset Divorce
While every divorce is unique, here are a few of the most common mistakes:
- Rushing Through the Process – Divorces can be draining, both physically and emotionally. Be patient and don’t agree to all the demands made by the opposing party,just to end the process.
- Deceiving the Other Party by Hiding Assets – Trying to hide your assets or misrepresenting their value can have severe consequences. Not only is this considered fraud, but it can also compromise your credibility in court and make your case subjected to a biased decision.
- Not Considering Tax-Related Consequences – The biggest mistake you can make during the divorce process is failing to consider the tax-related consequences of dividing your assets. While a non-earning spouse would be glad to receive the family vacation home as part of the division, they may not be able to afford to pay the property taxes associated with it.
- Failure to Maintain an Inventory of Assets – Failing to maintain records and an inventory of assets can put you in a vulnerable position, since you won’t have an understanding of where all the assets are being held, nor your household’s true net worth.
- Making Decision Based on Emotions – Guilt is often a driving emotion during a divorce. A “guilty” spouse may offer double spousal support and/or a high percentage of assets in an attempt to satisfy their feeling of guilt. Instead of basing decisions on emotions,treat your divorce like a business dissolution.
- Not Taking Time to Evaluate Your Options and Decisions – Most attorneys will tell you to take all the time you need to carefully evaluate your decisions with sound internal judgment. Sit back and review the feasibility of each of your decisions before committing to them.
- Letting Anger Get the Best of You – Not paying bills, maxing out joint credit cards, and carrying out violent acts towards your spouse as ways of channelingyour anger can make your case even more challenging.
- Proceeding Without an Attorney – Divorces involve aseries of complex processes and procedures. Deciding not to hire an attorney for a high asset divorce reduces your chances of retaining a higher percentage of assets.
Seek Help from an Experienced and Reliable Attorney in Florida
If you’re at a crossroads with your spouse and are worried about how a divorce may turn out, the attorneys at The Law Offices of Aliette H. Carolan have extensive experience in handling high asset divorces in Florida and work with clients every step of the way to ensure a favorable outcome. Contact us today at (305) 358-2330 to protect your interests and a head start on your post-divorce life.