High-asset divorces can be incredibly complex, and trying to overcome any conflicts that may arise is essential. Collaboration is critical when creating divorce agreements, as both parties need to be able to come to a resolution that works for everyone involved.
Let's explore tips on overcoming conflict in a high-asset divorce.
What Is A High-Asset Divorce?
A high-asset divorce is any marital dissolution involving detailed financial records and substantial funds or assets, typically with a combined value of over $1 million. These divorces usually involve substantial settlements and are often quite complex.
Because of the vast amount of money and assets involved, both parties must agree to ensure a fair outcome. When couples with high assets initiate a divorce, they must consider numerous legal issues, including property division, alimony, child custody, and support.
Why Is It Important to Overcome Conflict During Divorce?
High-asset divorces can be emotionally challenging, but the level of complexity of these divorces increases the stakes even higher. Not only are there multiple financial and legal considerations to manage, but a deep understanding of how financial decisions today might impact you in the future is necessary for making informed decisions.
If you cannot overcome conflict when creating divorce agreements, you might have to resort to litigation, where the court would ultimately make these decisions for you. This could lead to an outcome that is not in your best interest or could cost you more time and money in legal fees.
Methods of Overcoming Conflict
It is paramount to try to work together during this process since attempting to take sole control of negotiations or battling it out in court can come at an unnecessarily high cost – both materially and emotionally.
1. Take Time To Discuss Your Goals
Spend adequate time discussing your goals for the divorce agreement and what is important to you individually. Through this conversation, you can understand your spouse's top priorities for your divorce and use this knowledge to create compromises in your divorce agreements. With your spouse's perspective in mind, you can ultimately move forward with your divorce and begin your next chapter.
2. Utilize Mediation or Other ADR Services
Consider utilizing mediation or other alternative dispute resolution (ADR) services to help both parties discuss the situation and come to an agreement. A mediator can help you and your spouse discuss hang-ups in the decision-making process and promote positive conversations regarding your divorce. With this form of alternative dispute resolution, you can work collaboratively with your spouse, putting the final decision-making in your hands rather than the court's.
3. Communicate Effectively
Ensure that all communication is done in a respectful, honest manner. Try your best to be open-minded and try to stay away from accusations and blame. This can help you avoid tense conversations and overall conflict and instead promote clean communication focused on addressing your contested issues.
4. Consider Professional Help
If both parties are struggling to reach an agreement, consider enlisting the help of a professional, such as a financial adviser or another specialist who can help you better understand your assets. They can help you review your assets and develop a strategy for asset negotiation.
Prepared To Help, Every Step of the Way
High-asset divorces can be incredibly complicated and emotionally challenging. It is vital to make sure that both parties can communicate effectively, work together, and find common ground to reach a fair agreement.
If you are currently facing a high-asset divorce, call our firm today at (888) 224-1218 to schedule a consultation with one of our experienced high-asset divorce attorneys. We can help you face this stressful situation and exit your marriage with the best possible outcome.