When you see the headlines associated with celebrity divorces, amicable and civil are probably the last words running through your mind. Instead, you see million-dollar fights and contentious disagreements. The complexities that come with divorce become elevated in high net worth divorces because there is so much more at stake. But, these situations aren’t limited to famous people or top business executives. Property division, child support, and alimony can be points of contention between any divorcing couple who share considerable assets.
Mistake #1: Improperly Valuing Assets
Florida is an equitable distribution state, which means that, in most cases, marital property is divided fairly. Because of this, it’s vital that you invest in the right representation. At Orshan, Spann & Fernandez-Mesa, we work closely with CPAs, financial planners, and appraisers to accurately value your assets in high net worth divorces to ensure a fair division.
Mistake #2: Hiding Assets
Some spouses attempt to hide assets so they won’t have to give it up in the divorce. Not only is this fraud, but it will cause the individual to lose credibility in court, prolong the divorce process, and the judge may award the other party more assets. Both our attorneys and judges have seen the consequences of hiding assets, which is why it’s best to put everything on the table and be honest.
Mistake #3: Rushing the Process
We understand that a drawn-out divorce is the last thing you want. However, agreeing to every demand just to get the process over with will end badly. The opposing party could take this into consideration, take advantage of you, and hurt your financial future. You must make sound decisions in a timely manner.
Contact Orshan, Spann & Fernandez-Mesa
A high net worth divorce often comes with unique challenges. For that reason, it’s crucial for spouses to seek an experienced attorney who understands their specific goals and needs. At Orshan, Spann & Fernandez-Mesa, our attorneys’ priority is to safeguard the wealth and assets our clients have worked hard to amass.