Support and guidance are essential for most Texas residents who are contemplating divorce. While the average divorce does require a variety of issues to be negotiated, a complex divorce can involve extensive assets, liabilities and other items that need to be taken into consideration. The choice of legal representation can be instrumental in navigating the process.
Prior to meeting with legal counsel, the individual will want to have an idea of what he or she wants to get out of the divorce. A clear picture of one’s short term and long term goals can aid in determining which assets the individual wants to keep. Additionally, these goals often indicate the steps that will need to be taken to bring them to fruition.
Another important component is to obtain a clear picture of one’s financial status. The easiest way to do this is to obtain copies of the couple’s previous tax returns as well as current income statements. Additionally, statements showing bank, retirement and investment balances will be essential. Along with these financial accounts, the individual will also want a clear picture of liabilities; this can be accomplished through obtaining copies of all credit accounts including mortgages, car notes, credit card statements and any other credit account that either party may have.
Once the individual and his or her attorney have a clear picture of the assets and liabilities involved in the complex divorce, they can begin to determine the best way to reach the individual’s goals. Once a proposed settlement is drafted, it can then be presented to the spouse. While a negotiated agreement may be the easiest way to resolve the situation, there are times when it is necessary to present the case before a judge in a Texas court for a final determination.