The High Net Worth Divorce: Pitfalls to Avoid

Planning a divorce in New York City can be complicated, especially if you have retirement accounts, pensions, homes, apartments, or businesses. Divorces involving high-net-worth individuals are more challenging, aggressive, and expensive than those involving spouses with less financial resources. This article will offer some tips for avoiding pitfalls we’ve seen with our clients dealing with a complex, high-asset divorce.

 Pitfalls to Avoid

1. Allowing Guilt and Emotions to Make Your Divorce Contentious

Every divorce comes with strong emotions. Maybe you’ve been fighting about money for years, and you feel guilty asking your spouse for a divorce. When discussing the division of marital assets and child custody, it can be easy to let your emotions take over. Instead, approach your divorce as a business deal. Remember, the more time you spend arguing, the more energy and money you’ll have to devote to completing the divorce.

2. Hiding Assets from Your Spouse

Hiding assets to avoid losing them in property division can be tempting. However, hidden assets can be discovered, and when they are, you’ll lose credibility and the chance for a reasonable settlement. Furthermore, a judge will consider concealing assets as deceptive behavior, which will not work in your favor. One last tip: be sure to search for assets that your soon-to-be ex-spouse might have hidden from you.

3. Accepting a Settlement Offer Just to Complete the Divorce

Rushing through a high-asset divorce never goes well. It’s understandable for you to want to get the details over with so you can move on with your life. However, it’s never a smart idea to speed through crucial issues like property division or alimony just to get away from someone. You could end up with less property than you’re entitled to and more support than the law requires. When you have your high net-worth divorce lawyers on your side, they can guide you to a settlement that is fair and reasonable.

4. Not Hiring Professional, Skilled High-Net-Worth Divorce Attorneys

Some family lawyers lack experience, while others will guide you through your divorce efficiently and skillfully. You should select an attorney with whom you are comfortable and who has the resources and experience to help you protect your assets. Look for a strong advocate who will fight endlessly for your best interests. You’ve worked for your assets; now let us help you protect them.

Stepanian Law Firm: Your New York City High Net-Worth Divorce Lawyers

At Stepanian Law Firm, we treat our clients like family. With nearly 20 years of experience, we’ve dedicated our practice to assisting families in navigating difficult circumstances. When you call us for a free consultation, we’ll take the time to talk and provide an honest assessment about how to proceed with the case. We have experience generating unique solutions for a high net-worth divorce. Every client receives personalized, high-quality services and responsiveness and attention to you and your case.


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