—
Nashville Divorce Attorney, Francis King, has pinpointed five mistakes people make when working through a high-net-worth divorce.
For more information please visit https://franciskinglaw.com
In an interview this week, the founder of Law Offices of Francis King said one common error is accepting the other party’s first settlement proposal without careful consideration just for the sake of getting the divorce over quickly. King advised that evaluating a proposal from the other side needs careful attention, which should not be hindered by feeling pressure to reach a rapid settlement.
“Rather than thinking about severing ties as fast as you can, consider whether the settlement is fair for you overall, taking all aspects into account. Don’t let emotion cloud your judgement.”
According to King, it is important to recognize that not all assets are alike. It is important to consider tax implications, liquidity, balancing retirement and non-retirement assets. Either paying out too much or settling for too little could put a strain on your ability to keep up with expenses in the short term or your ability to support yourself through your retirement years.
King also warned people against undervaluing their assets in a divorce settlement or trying to hide them from court view. If hidden assets are found, or you do not fully disclose your financial position, you could very well get caught and face unpleasant consequences in court.
On the flip side, a person may be too trusting about their spouse’s disclosure of financial details, which result in his/her receiving less than a fair share of the marital estate. King said: “An experienced lawyer may advise hiring a forensic accountant to help value complex financial assets, such as executive compensation packages, closely-held businesses, and intellectual property.”
“Without proper valuation, you could be agreeing to much less than you deserve. Whether or not to liquidate an asset needs to be considered as well. The tax implications or current market conditions could make such liquidation a bad idea for both sides.”
King added that high-net-worth divorces could be settled calmly and quickly with the assistance of a skilled lawyer who could help avoid a long-drawn-out, acrimonious and costly divorce battle through the courts.
“The key to a quick and fair settlement probably rests on good advice and representation,” King said. “Choose an attorney that is fit for your circumstances and has the skills and resources to bring your divorce settlement to a fair and just conclusion.”
Source: http://RecommendedExperts.biz
Contact Info:
Name: Francis King
Email: Send Email
Organization: Law Offices of Francis King
Address: 4235 Hillsboro Pike #300 Nashville, TN 37215
Phone: 615-385-7654
Website: https://franciskinglaw.com
Release ID: 89076856
If you detect any issues, problems, or errors in this press release content, kindly contact error@releasecontact.com to notify us. We will respond and rectify the situation in the next 8 hours.
