Filing for a divorce is never easy. Filing for a high net worth divorce,
however, comes with a set of unique challenges that one might not be facing
in a typical divorce. Because there are more assets in these types of
divorces, the stakes are higher – during a high net worth divorce,
handling matters such as property division and alimony can be much more
difficult. In this blog, our
Las Vegas divorce attorney shares the most common mistakes that occur in high net worth divorces.
No matter how you slice it, hiding assets is never worth it. Many spouses
hide assets in an attempt to keep them from being divided. Regardless
of the reason, hidden assets are almost always uncovered during the discovery
process, and those caught hiding assets are often found in more legal
trouble than they bargained for.
Failing to Investigate
This mistake often goes hand-in-hand with hiding assets – if you
suspect that your spouse is hiding assets, it’s strongly recommended
that you investigate. Failing to investigate can cost you significantly
more in the long run. If you feel as though there are assets being concealed,
you should not hesitate to bring this to your divorce attorney’s
Ignoring Tax Consequences
Taxes are always a big contender in divorce proceedings, and it’s
important that your taxes don’t go unnoticed. When high dollar figures
are at stake, as they are in high net worth divorces, taxes can have a
dramatic impact. Any assets or alimony payments you receive as part of
the settlement are subject to being taxed, which can affect your current budget.
Leavitt Law Firm, we understand the importance of properly protecting assets during a high
net worth divorce. Our Las Vegas divorce lawyer has more than 20 years
of experience assisting clients through the complexities of the divorce process.
We’re ready to hear from you. Call (702) 996-6052 today to
request a case evaluation.