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3 expensive mistakes to avoid in a high-asset divorce

Divorce is one of the most stressful and emotionally charged events in a person’s life. It can also be overwhelming if you have multiple precious assets. 

It’s easy to make mistakes in your divorce, which can lead to costly consequences. Here are three expensive mistakes that you should avoid in a high-asset divorce.

Trying to settle too quickly

When you’re going through a high-asset divorce, the last thing you want to do is rush into a settlement. This can lead to mistakes that could cost you more than if you took your time and did it right. However, the longer you take to settle, the more likely your spouse will make unreasonable demands.

Not keeping accurate financial and accounting records

You should be able to prove your income at any point during the marriage. If you fail to keep accurate records, it won’t be easy to prove your income.

You also need to keep track of your expenses and be able to prove that you lived within your means. If it’s determined that you have been living beyond your means, it could affect alimony calculations.

Letting emotions get in the way of good decision making

Letting emotions cloud your judgment can be costly. It can also cause more stress than necessary, leading to all sorts of bad decisions down the road. This is especially true when you’re arguing with your spouse about dividing the marital property.

Giving your spouse what they want can be tempting. After all, they’re your spouse—you love them and want the best for them. But it would help if you made this decision when you’re not clouded by emotion. 

Plan and prepare for your high-asset divorce case

A high-asset divorce can be challenging, but you should still take the time to ensure you are making sound decisions that will not complicate the process or negatively affect your future. In addition, ensure you seek legal guidance to determine your options before making any decisions. 

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