When you have considerable assets and investments, you have more problems to deal with when filing for divorce. Ohio is an equitable distribution state, which means that the assets will be divided between the divorcing spouses in an equitable manner (not necessarily equal). If you have a high-asset divorce, it is best to err on the side of caution. In this post, we have enlisted the common mistakes you must avoid in such circumstances.

#1 – Not hiring an attorney

While your family members and loved ones will be there to support your decision, they are not the best people to seek legal advice from. You need to find a divorce attorney in Columbus who has handled similar matters and can guide you on the process and your rights. Also, your friends and family do not need to know every aspect of your financial situation. Lawyers with years of experience working on high-asset divorces can evaluate your circumstances effectively.

#2 – Not focusing enough on financial records

Your lawyer can only help you when they have the essential financial information. If you need clarification on the documents or evidence that are essential for your high-asset divorce, meet an attorney and get a checklist. Lawyers will often talk to financial experts and forensic accounting professionals for aspects like business valuations and property appraisals, and you need to provide as many details as possible.

#3 – Fighting for your marital home

While you may love your marital home for the memories, insisting on retaining the home may actually become a huge financial burden. If there are mortgage payments, that’s always a concern, while you also need to deal with property taxes, maintenance expenses, and insurance. Talk to your lawyer and financial advisors to determine whether keeping your marital home is a good idea in the long run.

#4 – Negotiating too soon

Understandably, you want to move on and complete the divorce as soon as possible. However, in real life, high-asset divorces take time, often a year or more. If you decide to negotiate and settle too soon, you may lose a significant part of your assets. It is best to work with your lawyer and set clear goals so that the discussions are based on objectives and not just the willingness to settle.

No matter how desperate you are, let your lawyer handle your high-asset divorce to get the best possible outcome, which requires considerable work.