Preparing for a Texas Divorce

 Posted on July 20, 2022 in High Asset Divorce

When a couple with a high net worth makes the decision to end their marriage, it is not uncommon for the divorce process to become complex and drawn out. Along with the “normal” acrimony couples may have due to the breakdown of the relationship, now there is the added stress and frustration of child custody, the division of assets, and other issues that may need to be decided. This is why it is important to have a seasoned Austin high net asset divorce attorney representing you.

Having a Long-Term Plan

One of the critical components for a successful outcome of your divorce is to have a long-term plan that addresses child custody, child support, division of assets, division of property, and spousal support. Working with your attorney and putting a solid strategy in place is one of the best ways to protect the interests of your children, have a less contemptuous divorce, and achieve the best possible outcome for you and your children.

Preparation is the first step to developing a long-term plan. Although your attorney will be preparing the legal documentation for your divorce, there are documents and records that you can gather that will help your attorney prepare your case, as well as help save time and legal fees. In addition to your marriage license and prenuptial agreement, if you have one, you will also want to gather the following documents that apply to you and your spouse:

• Bank statements

• Brokerage account statements

• Retirement account statements

• Life insurance policies

• Vehicle titles

• Property deeds

• Tax returns

• Pay stubs and/or W-2 forms

• Any other assets you and your spouse may have

You also want to have statements of all the debt you and your spouse have, including credit card debt, mortgages, home equity loans, vehicle loans, medical bills, etc. Having all these documents before you and your spouse actually split up can be especially important if your spouse tries to hide assets from you once the divorce process begins.

The next step in your long-term plan is separating from your spouse. A legal separation is not an option in Texas; however, you and your spouse can negotiate a separation agreement that addresses who will stay in the marital home, who will be responsible for bills, spousal support, and any other issues that need to be covered.

Your attorney can also help you prepare any kind of temporary child custody and parenting plans that you and your spouse will also need to have in place until a final order is in place. Even if your divorce is on good terms, it is never a good idea to just have a verbal agreement in place. Emotions can run high during a divorce and a friendly divorce can quickly turn into a nasty one. Without any legal documents in place, your spouse could prevent you from having access to your child and there would be nothing you could legally do until you were able to get a hearing in front of the judge.

Call a Texas High Asset Divorce Attorney

If you are ending your marriage, make sure you are prepared. Having a dedicated Austin, TX complex divorce lawyer from Powers Kerr & Rashidi, PLLC will ensure your rights to the marital estate will be protected. 

Call 512-610-6199 to schedule a consultation and find out how we can help.

Source:

https://www.brides.com/documents-your-divorce-attorney-will-need-and-how-to-organize-them-1103258