Brazil & Benske, LLC

Avoid common but critical errors in a high net worth divorce

Divorce is certainly not a pleasant experience, and in order to get through it, some people make decisions in haste that they later regret.

If you are facing a high-asset divorce, making a simple mistake in judgment could affect your future for a very long time. Here are four common but critical errors to avoid.

1. Taking too much advice

You and your best friend might share all kinds of personal information, including the details that brought on the breakup of your marriage. Your chief confidante might offer advice as to how you should manage your divorce. Other friends and relatives might chime in. These people may mean well, but remember that every divorce is unique. Rely on the advice and support of your attorney and other professionals connected to your case.

2. Being too trusting

You may take what your former partner and his attorney say as gospel truth with regard to marital assets, and you may be too trusting. Your soon-to-be ex may be more sophisticated financially speaking than you are, and an investigation of your marital assets may be in order. If there are any hidden assets, your attorney will bring them to light with the help of experts like forensic accountants and financial advisors, if necessary.

3. Failing to consider tax implications

You may be taxed on the distributions that come your way in the divorce settlement. You could also agree to an alimony amount without considering the taxes for which you would be responsible, and which would reduce the amount you actually receive. Work with your attorney to make sure you thoroughly understand the tax picture.

4. Being too agreeable

You may want to get out of this marriage at all costs. If so, you might be in the frame of mind to agree to almost anything your ex-partner wants. Do not succumb to temptation. Do not waive alimony or agree to any division of assets that would leave you on the short end of a divorce settlement. You are about to enter a new phase of your life: Avoid eagerness, complacency and other mistakes that might jeopardize your right to security and happiness.

No Comments

Leave a comment
Comment Information
  • Alist WISN 12 | wisn.com
  • Leading Lawyer
  • Super Lawyer
  • Nation's Premier NAFLA Top 10 Ranking 2014
  • American Inns of Court
  • ASLA 2015 top 100 Lawyer
  • 10 Best 2015 Client Satisfaction | 10 Best Lawfirms | American Institute Of Family Law Attorneys | TM
Send Us An Email

Take Your First Step: Schedule A Free Consultation

Call us at 414-939-0468 or use our contact form to arrange an initial consultation with a dedicated family law attorney at Brazil & Benske, LLC.

We will explain how the process starts and ends and what needs to be accomplished during its course. This understanding in and of itself will provide you with a clear direction and will start to alleviate some of your concerns.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy