How wealthy people should approach divorce

On Behalf of | Jan 14, 2019 | High Asset Divorce

When Texas couples with a high net worth choose to end their marriage, the resulting divorce can be complicated. Therefore, there are steps that they should take to make sure that they settle the divorce in as timely and clean a manner as possible. The first step is to create personal and professional priorities and advocate for them during divorce settlement talks.

It is important that individuals try to create as little distraction as possible during the divorce proceedings. For instance, it is rarely a good idea to serve papers at work or other professional events. Ideally, each side will attempt to maintain a status quo that doesn’t invite a lot of drama or gossip. No person who is going through a divorce involving complicated assets should do so on his or her own. Instead, it is a good idea to have a team of financial and legal professionals to assist with the matter.

A divorce should be seen as the termination of a contract between formerly married individuals. This means that emotion should take a back seat when trying to negotiate the end of the deal. In some cases, it may be best to settle as opposed to taking a case to court or otherwise pushing for everything a person may be entitled to under state law.

In a divorce, tension may arise as it relates to asset division and other key issues. Ideally, individuals will listen to the advice of their divorce team when determining if a settlement is in their best interest. An attorney will be an important adviser throughout the process.