The Case Of High End Assets - 845 Words

Divorces are never pleasant and rarely simple. This is all the more true in cases involving high end assets. Here we will bring to light some common mistakes made in this situation and offer some tips for making the process as expedient and hassle-free as possible. 1: Do not make your decisions based on any kind of emotion. This one may seem somewhat obvious at first, but there are a few pitfalls that one can fall into without realizing in a high-stress situation such as this. For example, some people involved in a divorce may simply want it over with, and make decisions and concessions that are not in their best interests based on that sense of haste. This is not a good idea regardless of the reason, and there are many, such as an eagerness to be involved with another lover, or more commonly simply distaste for your spouse. Another common reason is guilt. The party initiating the divorce usually feels a degree of guilt, which can lead to an inappropriate willingness to make concessions for the purpose of making things amiable. Another is the exact opposite, revenge. No matter how persuasive these motivations may be to you, do not make decisions based upon these motivators that will have negative repercussions upon your financial future. 2: Hire a good lawyer. Be sure that you have a lawyer that is going to be an asset to you. A good lawyer will help you think clearly and objectively about the legal ramifications of any decisions that you make. A good lawyer may beShow MoreRelatedAssessing a Companys Financial Future Essay1031 Words   |  5 PagesAssessing a Company’s Future Financial Health Case Analysis Executive Summary A firm’s ability to analyze its long-term financial health can become a key asset for management as it formulates new, and/or revises old, strategies and goals. 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