If you’re getting divorced and have a lot of assets, you should speak to a high net worth divorce lawyer Brooklyn, NY residents trust. Divorces involving high-net worth couples tend to be even more complex, so it is important to have an experienced and knowledgeable lawyer on your side. Here are some tips for getting through a high-net divorce:
In most cases, married couples don’t just decide to get divorced out of nowhere. They usually don’t get along for a while before they file for divorce. If you and your spouse have been having issues for a long time and you don’t think that you can resolve them, don’t wait until he or she serves you divorce papers. A divorce can change your life in many ways, especially if you and your spouse have a high net worth. You should at least consult an experienced divorce lawyer and ask how the divorce will impact your assets.
Avoid Making Expensive Purchases
Some couples in a high net worth divorce wrongly assume that if they make several lavish purchases before getting divorced that they can increase the alimony they receive. This just isn’t true. Assets acquired during the marriage will be divided equally between both spouses during a divorce. If you try to purchase too many luxury items before your divorce is finalized, you will just be left with more debt.
Be Honest About Your Assets
When you first file for divorce, your high net worth divorce lawyer in Brooklyn, NY will want you to make a list of all your assets. If you have assets that your spouse does not know about, you should attempt to hide them from your lawyer. This is dishonest and can land you in legal hot water. The judge could decide to award your spouse a higher distribution if you attempt to hide any assets.
Don’t Settle too Quickly
In a high net worth divorce, you naturally have more assets to divide, so you can expect it to last longer than the typical divorce. The divorce process is indeed stressful, so you might be tempted to settle quickly to get it over with. However, doing this is a big mistake that can negatively affect your financial future. It is better to wait it out and have your lawyer negotiate a fair settlement.
Speak to an Accountant
There are many consequences associated with a divorce, especially if there are big assets involved. That is why you should consult an experienced accountant as soon as possible. He or she can assess your finances and determine how owning these assets may affect you.
Schedule a consultation with a high net worth divorce lawyer in Brooklyn, NY today.