The #1 Divorce Mistake High Earners Make in California
Featuring
Tim Miranda, CFLS
What to expect
The biggest mistake many high earners make in divorce is waiting too long to get strategic advice.
Even if you have substantial assets, detailed estate planning, or a strong prenup, divorce can still lead to complex and expensive litigation.
Speaking with an experienced attorney before the divorce begins can help you understand your strengths, weaknesses, potential exposure, and what to expect before the process starts.
Transcript
"The number one mistake that I see high-earning persons do in a divorce is that they don't come to talk to someone like me in advance of the divorce.
So, they often have a lot planned out. Their estate planning is done. They have plans for everything. Everything is controlled because they have resources. In some cases, they have tremendous resources. But, they come too late to the fight.
You should be planning, and I know that that sounds incredibly Machiavellian and visceral, but it's true. If you know that you're going to get a divorce, if you know that you have exposure, even if you have a pre-nup, even if you were told that you have the best pre-nup by the best attorney in the world, there's always potential for protracted litigation and loss.
So, if you come in advance and you speak to someone who can foresee that and can tell you what the weaknesses are and what the strengths are, that's the number one thing you can do to help yourself.
If you have the money, make an investment. Make an investment in planning for that divorce, so that when it does happen, you're in control. They're not controlling you."
