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3 mistakes that could derail your high-asset divorce

When it comes to high-asset divorces in the Minnetonka area, the stakes are often so high that some spouses go too far in trying to ensure they get what they think is fair. This could include making erroneous allegations or unrealistic demands and doing everything they can to make the separation process more stressful for their former partners.  

You might be getting ready to file for divorce and have ideas about how custody, alimony and child support should be awarded and who gets the bigger share of marital assets. What you want may not coincide with what your soon-to-be ex-spouse has in mind. Take some time to review the following mistakes that occur in high-asset divorces. 

1. Not thinking logically 

Divorce is a very emotional and painful experience. There is nothing wrong with feeling guilty, embarrassed or angry about the situation. However, you must not let your emotions get in the way of you making well-informed decisions. Do not rush or agree to anything without considering the long-term effects on your post-divorce lifestyle. 

2. Hiding assets 

Sometimes divorce gets ugly and one partner decides to hide assets to keep a partner from getting what is rightfully his or her share. Hiding assets in divorce can damage your credibility in court, and it could result in criminal charges and an unfavorable settlement. There is also the possibility of ending up back in court after the divorce is settled if your former spouse finds out. 

3. Listening to bad advice 

It is natural to want to compare your divorce situation to others that appear like yours to get an idea of how things will turn out, but no two divorce situations are the same. Your friends may offer advice to help, but going through their own divorces does not qualify them to give you legal advice. Unless they are family law attorneys, they are not experts in divorce.  Be wary of the advice you receive from your family and friends. 

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