Avoiding pitfalls in a New York high-asset divorce

Like many other people, wealthy individuals in New York enter marriage intending to stay with their spouses for the rest of their lives. However, wealthy couples sometimes decide that leaving the marriage is the best solution. It is wise to have structured separation of assets and prenuptial agreements in place, but wealthy individuals often forget to take these steps before getting married.

When couples don’t take the proper steps to protect their finances in case the marriage ends, this could make a high-asset divorce even more emotionally draining. The following covers some practical tips that can make a divorce more efficient.

Anticipating the outcome of court day

Don’t assume that you know what will happen when you and your spouse go to court. You may not get all the things you want or expect when it comes to the separation of your finances or property.

There are also out-of-court options that may increase the chances that your high-asset divorce terms are met. Settling out of court also increases the chances that your divorce proceedings will stay private.

Taking advice from loved ones

Your close friends and family likely want to be helpful during your high-asset divorce, but it’s best not to share too much information about your finances. Your loved ones may mean well but likely don’t understand all the legal and financial implications that come with a divorce that involves a lot of money.

It’s fine to lean on your family and friends for support during this difficult time, but it’s best to receive legal advice from an experienced legal professional who can provide specific and relevant counsel. Speaking with a qualified family law attorney can help you know what to expect in a high-asset divorce. Having the right legal professional on your side can make your divorce as organized as possible.