Seeking a High Asset Divorce During the Spring Months?
It is not uncommon for many couples to seek a dissolution of marriage at this time of year. Spring typically sees an increase in divorce filings, and, if an Illinois reader is planning on a high asset divorce in the near future, it is crucial to avoid certain mistakes. Proper planning and preparation can help you avoid many complications during the process and after the finalization of your divorce.
Many people assume that they can file for divorce at any time they decide to do so. While, technically, this is true, it is important to consider how the date of filing may impact certain issues, such as property division and finances. Understanding how the timing can impact the division of long-term assets is a practical and useful move for anyone considering a divorce.
Some people assume that they can simply hand divorce papers to their spouses. Even when a couple is amicable, it is vital not to skip the formal process of serving the papers. Additionally, financial information should never be estimated. It is critical that complete financial information be disclosed by both parties; otherwise, it could lead to an unfair division of property, assets and even retirement savings.
Divorce is a hard process for every member of the family, but certain mistakes can increase the complications and lengthen the process. When considering the end of a marriage, a person facing a high asset divorce should make the effort to properly research how to best protect his or her best interests. An experienced Illinois lawyer can help guide an individual through a divorce, eventually leading to a better and stronger future.
Source: The Huffington Post, “Filing For Divorce In Spring? Avoid These 6 Perilous Mistakes!“, Bari Zell Weinberger, April 25, 2016
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