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Blog 2017 October Mistakes to Avoid in a High Asset Divorce
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Mistakes to Avoid in a High Asset Divorce

Posted By Law Office of Kathryn Marteeny || 9-Oct-2017

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 both parties.

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.

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