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Avoid these high-asset divorce missteps

If you and your spouse are wealthy and have complex assets, the property division portions of your pending divorce may seem overwhelming right now. Because you will soon be navigating some of the most challenging aspects of a high-asset divorce process, it is critical to both hire an attorney experienced in this specific kind of divorce and to take proactive steps towards securing a fair divorce settlement.

As much as an experienced family law attorney can help you achieve your goals, your personal actions and approach will inform the outcome of your divorce process in more ways than you can likely imagine.

First, you need to define your goals and priorities for the process with an eye towards a healthy future. Oftentimes couples end up litigating their divorces because they are trying to rectify past wrongs. If your goal is to obtain a fair divorce settlement, you may not need to pursue litigation. If you and your spouse can negotiate or mediate a fair divorce settlement, pursuing litigation may ultimately leave you with less than you want or deserve.

Second, you should be careful of taking advice from non-professionals. Your loved ones almost certainly want to help you through this difficult time. However, non-professionals may give you advice that could dramatically harm your divorce process simply because they are not well-versed in the process of high-asset divorce. Please, seek out experienced financial professionals and attorneys to help you through your divorce and allow your loved ones to support you in ways that will not potentially imperil your divorce settlement.

Source: Forbes, "Three Of The Biggest Mistakes The Wealthy Make When Divorcing," Russ Alan Prince, June 9, 2014

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