The process of blending two lives in marriage requires patience and a period of adjustment. However, the process of obtaining a divorce is often much more complex, especially when it’s a high net worth divorce. Texas residents who are contemplating this step may keep three practical points in mind.
The first is to retain the services of those professionals who can provide expert guidance throughout the proceedings. A team headed by an attorney skilled in the complexities of a high asset divorce is in a better position for achieving a settlement agreement that provides a secure financial future. An experienced attorney can help determine the worth of all marital property to ensure that negotiations are based on accurate values.
The second point is to ensure that all community assets and liabilities are accounted for when preparing a financial affidavit. Though this may seem like an obvious point, it pays to keep in mind that assets can be overlooked, especially if one party was unaware of assets that may have been acquired by the other spouse. Once a thorough accounting has been compiled, community property will be separated from premarital, or separate property. Though many wealthy couples have signed a prenuptial agreement that stipulates how assets will be divided in the event of a divorce, if one does not exist — or if something significant has changed — an attorney’s input can prove to be invaluable.
Lastly, those who are seeking a high net worth divorce generally wish to keep details of the proceedings private. Either spouse can request that the process be sealed in order to ensure that only the courts and the parties involved will have access to personal and private information. Texas residents who have decided that a divorce is the best option for them, may be best served by consulting with a local attorney who handles these types of divorces on a routine basis.