Divorce is not only an emotionally draining experience, but oftentimes
a financially complex one as well, especially if you are in the midst
of a high asset divorce. With a substantial amount of money, property,
assets, and other valuable items at stake, there is a much higher potential
for mistakes, which can ultimately lead to an unfavorable outcome for
Here are some of the most common mistakes you must avoid if you are going
through a high asset divorce:
1.Hiding assets from your spouse: It is understandable that you would want to do everything possible to
hold onto certain assets, but hiding assets is not the answer and almost
always affects a divorce outcome given its traceability. Not only will
this damage your credibility, but you might also be subject to criminal charges.
2.Inaccurate accounting: Do not be in a rush to file the information required in your financial
affidavit and always provide proper financial documents. The accuracy
of your accounting is critical since these documents will be used to determine
which assets and liabilities you will receive, in addition to child and
spousal support payments.
3.The absence of a thorough investigation: Being honest and upfront with your spouse does not mean they are being
honest with you. Do not take his or her word for it or you might get taken
advantage of. Instead, investigate your spouse’s financial disclosures
and ensure they are accurate.
4.Not considering long-term effects: Just because something is valuable does not mean it is worth fighting
for. Many high-value assets, such as real estate properties, come with
heavy expenses, taxes, and debt, so be sure to carefully consider what
you want to keep before trying to obtain them.
5.Agreeing too quickly to a settlement: It is never easy to go through a divorce and this often makes both parties
eager to agree to a settlement. However, doing so means you might be signing
something you do not fully comprehend. Take the time to understand every
document before you sign off on a settlement.
6.Failing to hire a lawyer: With an experienced high asset divorce attorney at your side, you can
avoid making these mistakes or others that were not mentioned. He or she
will be able to effectively navigate you through the complexities of this
process and ensure your rights and best interests are protected.
Houston High-Net-Worth Divorce Attorney
If you are going through a divorce and are seeking to protect your assets,
contact the Law Office of Kathryn Marteeny. Our Houston divorce attorney
has over 30 years of legal experience and a thorough understanding of
Texas divorce law. When you choose to work with us, we will make sure
you do not miss any of the crucial steps required in the divorce process.
Contact our office today at (713) 936-2300 to schedule a consultation.