In a high-asset divorce, one important step is discovery. Discovery involves the exchange of documents and information that you’ll need to identify all your assets and to negotiate.
The exchange includes information about your economic, personal and financial situation as well as the property you own, the debt you have and your income. Doing this allows both of you to begin discussing how you’d like to fairly divide your property and work through issues like spousal support or child support if you have children.
In California, you’re expected to divide your property evenly. Doing this will likely require you to have your assets appraised so that you know the full value of your assets for division.
What should you remember about the divorce discovery process?
Remember that hiding assets isn’t a good idea (in fact, it’s illegal), and if you do so, it’s likely that you’ll be found out during the discovery process. Almost anything that you said or did in the past may come up during divorce discovery, too.
Most important is the fact that you have to be honest with your attorney. Being honest gives your attorney the information they need to fight for the assets you want, not just a 50% share.
Our site has more about divorce discovery and high-asset divorces, so you can learn about how this process may affect you. With good education and support, you can tackle your divorce with the knowledge you need to resolve it quickly and efficiently. Your attorney will help you learn more, so you can make good financial choices for your future.