A high asset divorce can be one of the most complicated, if not stressful, types of divorces out there. Many people will never experience this type of divorce in their lifetime. Those that do will want to know common mistakes to avoid during the process in Illinois.
Couples involved in a high asset divorce should never agree to anything simply to get the divorce to go final. This is a surefire way to wind up with little to no assets when the final papers are signed by all parties involved.
Never try to hide assets from your spouse when divorce is imminent. This will only cause more of a problem and they more than likely will be found eventually. Hiding assets can be viewed as fraud and it takes away any credibility you had during the divorce process.
A big mistake people make in high asset divorces is failing to investigate. Invest a little bit of money at the beginning of the divorce to find money or other assets that might not be readily available to the untrained eye. This can go a long way towards a nice division of assets.
Never let your anger towards your spouse influence your decisions about dividing assets. This will put you at a stalemate, lead to mediation and then eventually to an appearance in front of a judge. You really might not get what you want if a judge winds up dividing your assets.
Failing to properly account for assets and liabilities is a big mistake made in high asset divorce that you cannot afford to make. You will be asked to complete a financial affidavit when the divorce process begins. Take your time completing this so as not to miss anything important.
If you are headed for a divorce in Crystal Lake, contact our firm today to discuss your situation and how you should handle a high asset divorce with your soon-to-be former spouse.