Divorce in Texas can sometimes be a scary and frustrating process. What can make it even worse is when there is much more on the line than just a relationship. High-asset divorces can have extreme consequences for both parties. How you choose to move through a high-asset divorce process can help determine exactly what from your estate you get to keep for you and your heirs.
High asset divorce best practices
If you own a lot of valuable assets and have to move through a high asset divorce process, you need to be more careful than if nothing of major monetary value was involved. Overall, you should adhere to certain
practices to obtain a good outcome. You should:
- Keep everything regarding the divorce private from uninvolved parties
- Have documents regarding the divorce sealed by the court
- Keep documents, correspondence and more regarding the divorce cleanly organized
- Perform work to discover and catalog your assets
- Be transparent with the court and other involved parties about the value, extent and nature of your assets
- Realize you will have to work with an appraiser to determine the value of your assets
- Realize you will have to work with an accountant to figure out the financial impact of the divorce
One of the good things about divorce, relatively speaking, is that it doesn’t have to be such a stressful and rancorous legal battle with your spouse. While divorce with valuable assets can be much more complicated, taking the right steps and approaching the matter in a calm and respectful manner can go along way towards helping you obtain a better settlement.
While a high-asset divorce can become a battle, it doesn’t have to. If you approach the process with the right mindset, you may be able to come out more unscathed than if you did not.