Please note that all online divorce platforms are not the same. Much of the content below does not apply to BlissDivorce. BlissDivorce is the only complete online divorce solution, including property division, child custody, spousal support, and AI-powered Digital Divorce Mediation.
Divorces are never easy, especially the high-asset ones. This type of divorce could get very complicated and add more stress to an already difficult situation. Luckily there is a method that could help you make this process easier, and that is online divorce.
Many of you wonder how online divorce can help simplify high-asset divorces. But the truth is that it could have many benefits, which you’ll find further in this article.
How Online Divorce Can Help Simplify High-Asset Divorces – Applicable To Platforms Outside of Bliss Divorce
In most cases, the divorce process has a lot of meetings with lawyers and requires a lot of legal requirements. This could make the process very long and stressful. So, if you’re going through a high-asset divorce, it is expected to feel overwhelming. You may be surprised to learn how online divorce can help simplify high-asset divorces.
With the help of online divorce services like BlissDivorce, the whole process has become simpler for couples who want to separate faster and more conveniently. That is especially true for the ones with high assets.
Here are some reasons why online divorce can help simplify high-asset divorces.
Complete paperwork without an attorney present
Online divorce services allow you to complete your paperwork without meeting an attorney. This could save time and money and make the process easier, especially if you have busy schedules.
Simple and easy templates and guides
As you’ve guessed, online divorce services often have simple and easy templates and guides. Because of that, you should be able to go through each step of the process quickly. This is very helpful, especially for those who may not understand legal jargon or the specific requirements for divorce.
Useful for high-asset divorces
As the name implies, these divorces deal with assets worth more than $1 million. And these divorces have complicated financial arrangements and need a lot of paperwork.
Greater privacy than traditional divorce proceedings.
Many people, especially those involved in a high-asset divorce, might prefer this in privacy. They may be worried about how the divorce could affect their public image or business.
What Is a High-Asset Divorce
A high-asset divorce is between two people with a high net worth. This could include real estate, stocks, businesses, or other valuable things. Dividing the assets could be a complicated process, and the couple involved may need help from financial experts.
In high-asset divorces, you and your partner should decide how to split your assets fairly. This might be difficult because some assets could be worth a lot, and there may be disagreements about who should get what.
If you and your partner have some agreements, like a prenup could make the high-asset divorce a little bit easier.
How to Handle High-Asset Divorce
While dealing with a high-asset divorce could be complicated, you could do some things to make the process easier. Here are some tips on how to handle high-asset divorce.
Before starting the divorce process, it would be good to keep all the documents in line. You should gather all the needed financial documents, such as bank statements, tax returns, and statements from investment accounts and properties. Having these documents by hand might make the process run smoothly and give th expected outcome.
Take care of your mental health
Because divorce may be emotional and stressful, you should try to manage your mental health. A lot of the time during the divorce, you might feel mixed emotions.
For example, in anger, you might make some decisions that might not be best for you. So it’s recommended to talk it out with someone, like a close friend, family member, or professional.
Mistakes to Avoid in High-Asset Divorce
We all make mistakes. But when it comes to divorce, you need to be extra careful. One mistake can cost you everything.
So we feel it is our duty to list the most common mistakes people in high-asset divorce make to help you avoid them.
Worrying if there is no prenup
Many couples don’t sign a prenup. It’s normal if you didn’t get a prenup before getting married.
But It’s important to remember that there are laws regulating the division of assets. Understanding these laws and how they may affect your divorce settlement is important.
Going straight to court instead of trying online divorce first
When spouses want to get a divorce in a calm and sophisticated manner, they worry about going to court and paying costly fees. But with the rise of many other alternatives, you don’t have to go to court.
Online divorce services might help you and your spouse reach a fair and peaceful agreement while saving you time, money, and stress.
Allowing emotions to get in the way
When dealing with any type of divorce, there’s no denying that you’ll get emotional. But emotions in this situation cannot get in your way. It’s important to deal with your emotions in a healthy way but keep a clear head.
If you let your emotions get in the way, you might get way less than you deserve.
So to get a fair settlement, it’s important to look at those negotiations with a clear head and mind.
Hiding assets or debts
Hiding assets or debts might be among the most common mistakes in high-asset divorces. Not only is this unethical, but it might be illegal.
You need to show all your assets and debts. These include bank accounts, investments, real estate, and other important assets. Hiding assets or debts could have serious legal consequences.
There is no estate planning
Another common mistake in high-asset divorce is failing to set your estate plans (inheritances). A divorce could have a big impact on your estate planning documents. This could involve who gets your house, car, stocks, or debts.
So, we recommend updating your documents and ensuring you protect your wishes before the divorce starts.
Planning what you might inherit
In a high-asset divorce, planning your inheriting assets could be risky. In a divorce, inheritances might be considered separate properties if they haven’t been considered marital assets.
Because inheritance might be kept separate, you shouldn’t use it as a negotiating point in your divorce settlement.
Focusing on what you might or might not inherit in the divorce could distract you from bitter and more important things that need addressing.
Not having child support and alimony in mind
Child support and alimony could be more complicated than a high-asset divorce with no kids.
There are many different types of alimony and how they are calculated in your state. Failing to think about these issues could create financial difficulties for both of you and add unnecessary stress.
How to prepare for an online divorce
Preparing for an online divorce should be a simple process. Here are some steps you could take to prepare for an online divorce.
Is online divorce right for you
The first step in preparing for an online divorce is to find out if an online divorce is the best option for you. While online divorce might be a better and cost-effective option for many, it might not be the right choice for you.
Traditional divorce might be better for couples who have a more complicated divorce. This could include couples who have trouble talking with each other or don’t want/feel uncomfortable using technology.
Choose an online divorce service
It’s important to choose a service with a good reputation because many online divorce services are available. You could choose a service that has good reviews and affordable rates.
Gathering information and documents
Before starting an online divorce, you should gather important information and documents about your marriage. Some of the documents are a marriage certificate, a prenuptial agreement (prenup), financial information, and information about assets and debts.
Talk with your spouse
Talking with your spouse could be very helpful with online divorce. You could talk with your spouse to ensure the divorce goes smoothly and successfully. But remember to keep a friendly tone while talking to them. Being rude and impolite can only worsen things.
Review the documents
Online divorce services should tell you which legal documents you need. You should review the documents carefully and ensure you understand the terms before signing.
Prepare for court
Even if you are going with an online divorce, you might need to go to court hearings to finalize the divorce. This is because a judge should approve divorce procedures before they become official.
Even though most online divorce services do a good job, the chances of getting the documents rejected are small. But there are some cases where a judge might ask for additional forms or documents.
Going through a high-asset divorce may be hard and stressful, so you wonder how online divorce can help simplify high-asset divorces. Online divorce could speed up the process and allow a fair division of assets.
Remember that each divorce is unique, and talking with a professional in this field is recommended. Online divorce could be a great option for those looking for a cheaper and more effective way to get divorced.