Divorces are typically more complex when they involve a high amount of material wealth. This is simply because there is more to organize and there is more at stake. Divorcing spouses in Texas with a high number of assets should work with the law to protect their possessions and assert their rights.
You are likely to have many fears and concerns when embarking on the divorce process, but not all of them will be justified. The following are some things that you should concern yourself with when embarking on a high-asset divorce.
Make sure that assets are not hidden
Unfortunately, it’s common for one spouse to attempt to hide assets when they foresee a divorce. They may try to hide assets by loaning money to friends and family without your knowledge, or they may hold assets in offshore accounts. If you have any reason to suspect that your divorcing spouse is hiding assets from you, it is important that a full investigation is conducted. This will facilitate transparency and help gain what is rightfully yours in the divorce.
Think about the privacy of divorce matters
It’s common for those with high assets to not want their private matters made public. In most situations, divorce records are made public in the court. However, if you request it, some courts will make it possible for these court documents to be sealed, meaning that the details held within will not become public information.
Try and avoid a lengthy court battle
High-asset divorces have a significant probability of leading to a lengthy and costly divorce battle. This causes a great amount of stress for all involved, including the children. A lengthy court battle can, ironically, lead to both spouses losing money in costs that they are fighting to keep. By taking a pragmatic approach, a fair and just outcome can be attained for both parties.
If you are worried about how you will be affected financially by your upcoming divorce, it is important to keep calm and plan ahead. The laws in Texas can be used to protect your interests and lead to a beneficial outcome.