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Don't make common mistakes in your divorce

When you are going through a divorce, the primary concern that you will likely have is just getting it all over with. This is understandable, but you need to take the time to ensure that you aren't doing anything that could lead to you losing out when it comes to the divorce settlement.

You can't let the desire to hurry things up cause you to agree to things that aren't in your best interests. It is possible that your ex will try to make deals sound sweet to you, but make sure that you think carefully about each decision that you are confronted with.

As you are filling out paperwork, make sure that you are fully honest. You shouldn't try to hide assets or improperly account for liabilities that you know about. Remember that the divorce proceedings are all legal proceedings that require you to make statements under oath.

In a high asset divorce, you need to make sure that you think about the tax implications of each decision you make. You also need to investigate any claims made by your ex when it comes to income and assets. Even if you don't have reason to think that your ex wouldn't be fully truthful, you should still look into everything that is claimed.

As you go through the process, there is a chance that you will start to get emotional about certain things. You can't let your emotions rule in these cases. Instead, take the time to evaluate the situation to determine what options are in your best interests. Trying to make your ex pay just because you are angry is likely going to work against you.

Source: CNN iReport, "Top 10 Mistakes in High Net Worth Divorces," Joey Battah, accessed Oct. 06, 2017

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