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How to plan for a high-asset divorce

On Behalf of | Mar 11, 2021 | High Asset Divorce

Getting through a divorce with a successful outcome in Texas is hard enough, but having a high net worth can make a divorce even more difficult. Here are a few tips on how to properly plan for your high-asset divorce.

Make a list of all of your assets

It’s always a good idea to sit down and write up a list of all of the assets that you and your former spouse own. These assets will include things like houses, cars, 401(k)s, and savings accounts. When recording each asset, do yourself a favor and notate whether or not the asset was yours prior to marriage. You may be able to leave with the assets that you owned prior to getting married if they’re not considered marital property.

Consider an even split

While you may want to keep as many of your assets as possible, judges are looking at the best interests of both you and your former spouse. This means dividing your assets up equally so that you both walk away in a reasonable financial condition. By being able to agree with your former spouse on who gets what assets, you can help to minimize the amount of time and money spent on divorce proceedings. Go down your list of assets and try to divide them evenly. This will give you a good place to start with your divorce negotiations.

Commit to no public reactions

While there is a lot of paperwork to deal with, it’s also important to prepare yourself for dealing with the proceedings that come along with divorce. It’s never a good idea to react publicly to various aspects of your divorce. Taking to social media with grievances against your spouse is one surefire way to create more of an issue for yourself. Think about the various ways that you may adversely react to your divorce and come up with a plan to avoid those public reactions.

When you’re undergoing a high-asset divorce, there’s a lot on the line, which is why you’ll want professional help. By following the tips outlined above and working with an experienced family law attorney, you may be well on your way to enjoying a smooth divorce process.