California couples who have a high net worth may hear that a high-asset divorce can be complex. The reality is that your divorce only has to be as complex as you and your former spouse make it. Here are some great tips to ensure smooth sailing for your divorce.
Don’t try to hide assets
When it comes to divorce, emotional anguish can cause some spouses to try to hide particular marital assets. Most of the time, their intention is to retain full ownership of the asset following the divorce. The reality is that hiding assets just consumes more time as your partner’s lawyer has to dig into documentation to prove the asset exists in the first place. To get the divorce process over as quickly as possible, it’s best not to hide assets from your former spouse.
Accept that you’re going to need to devote time to the process
In a divorce in which the parties have a high net worth, every asset will need to undergo a professional appraisal. This helps to determine the asset’s actual value so that both parties can use it to split up their community property equally. It’s best to accept the fact that you’re going to need to meet the appraiser or have an assistant do so. Don’t opt for putting off appraiser visits. The sooner the appraiser can assess the asset, the sooner you can ascertain its actual value so you can arrive at an equitable property division.
Going through a divorce can seem like an overwhelming process. Having a high net worth can complicate the issue and require more time and money to see the divorce entirely through. By following the tips that were presented above, you can set your divorce up for smooth sailing.