When a couple decides to divorce after a considerable amount of years of marriage, this often means that they have a large amount of assets to divide. A high-asset divorce differs from other divorces due to the fact that assets can be particularly complex to identify and divide between spouses. In high-asset divorces, conflicts are more likely to arise due to these difficulties.
It is therefore important that those contemplating a divorce where there are many assets to divide take early action to plan their strategy. By doing so, those approaching divorce can avoid some of the following common mistakes.
Allowing the other party to make them feel guilty
Like all emotions, guilt requires permission to be experienced. In other words, no one can make you feel guilty unless you allow them to. It’s common for one divorcing spouse to try and make the other party feel guilty about fighting for their fair share of assets. You should fight for the assets that you believe you deserve rather than listen to the opinions of your ex.
Many people want to get their divorce settled as quickly as possible so they can move on with their lives. While this is understandable, it can often lead to them getting less than what they deserve when it comes to the divorce settlement. By being patient and being outcome-focused, you will be more likely to get the assets that you deserve.
Being overly trusting
Trust is paramount in any marriage. But when a relationship ends, it is more likely that one or both spouses will breach the trust of the other. This is especially true when it comes to the process of asset division. Some divorcing spouses take exceptional measures to try and hide assets from their ex, sometimes even making transfers to offshore accounts. No matter how much you trust your ex to be reasonable, you should not disregard the possibility of their engaging in ruthless or unlawful tactics.
If you are unsure of how to move forward with your divorce, make sure that you have a good understanding of the law, and that you have established a vision of what you would like the outcome of the divorce to be.