Mistakes to Avoid in a High Net Worth Divorce in Florida
If you are preparing for a divorce and you and your spouse have a high net worth, it’s imperative you find the right Boca Raton divorce attorney to help. At the Law Offices of Schwartz | White, we specialize in divorce matters that involve a significant amount of assets, businesses, and other hard to value assets. Our attorneys have a combined five decades of experience, so we understand the complexities and nuances with these types of divorces.
Without the proper attorney, you do run the chance of making mistakes or running into problems along the way. Some of these can include:
One Spouse Hiding Assets
Sadly, it’s not uncommon in high net worth divorces for one spouse to try and hide assets, especially the spouse who is the higher wage earner. He or she may try to transfer assets to someone else, like a business partner, a child from a prior marriage, or even a friend. It may take the expertise of a forensic accountant to examine your assets and determine if your spouse is squandering or hiding assets to keep them from being distributed in the divorce.
Letting Anger or Emotions Guide Your Decisions
It’s understandable that you may be angry and emotional. Divorce is a difficult process, and one of the most emotionally draining and stressful experience a person can go through. It’s easy to get swept up in things and not use your head when it comes to deciding important marital issues. However, with a high net worth divorce, it’s even more critical that you keep a clear head and have a Boca Raton high net worth divorce attorney on your side. Rash decisions and those made out of anger can be extremely costly.
Don’t Listen to Other Divorced Relatives and Friends
While your friends and relatives mean well, every divorce is different. Different assets, different circumstances, etc. Just because Uncle Bob had a certain outcome, it doesn’t mean yours will go the same way.
In many cases, well-meaning friends and family will push you to find the attorney who will ruin your soon-to-be ex, but a major fight and long drawn out divorce benefits no one. It just adds to your legal fees to keep fighting over small items and, if you have children, it can do more emotional harm to them as well. With any divorce, high net worth or not, it’s best to resolve all matters as quickly and painlessly as possible. That being said, don’t make rash decisions either.
Making Rash Decisions and Not Trusting Experts
You want to resolve the divorce as quickly and amicably as possible, but don’t make rash decisions without thinking them through. Many high net worth divorces benefit from various experts who are brought in to place a value on your more difficult-to-value assets. These can include retirement plans, stocks, a business, antiques, art, etc. These experts will use their expertise to place an accurate valuation on a stock or retirement account, not just what it’s worth at the moment of your divorce.
Contact a Boca Raton High Net Worth Divorce Attorney Today
If you have a high net worth and are preparing for a Florida divorce, let the skilled Boca Raton divorce attorneys at the Law Offices of Schwartz | White help. Contact our office today to schedule an initial consultation.