Understand your assets when going through a high asset divorce

The substantial assets you have accumulated throughout your working career may have seemed like a blessing. They allowed you to afford your necessities and your desires, and you have not had to worry about your financial stability for some time. However, now that you have chosen to end your marriage, concern over that stability may have come to the forefront.

Dividing substantial assets can certainly make divorce proceedings more complicated. If you had already amassed a considerable amount of wealth before your marriage, you likely created a prenuptial agreement. However, you may not have followed that route if you had not yet garnered financial success when you tied the knot. Still, you can do your part to maintain your financial stability during divorce.

Understand your assets

You already know that you are wealthy, but odds are you hired financial professionals and other assistance when it came to organizing, growing and protecting your assets. If so, you may want to take the time to speak with these professionals and understand where and what your assets are. You may have passively been accumulating funds from an investment that you had forgotten about, or your financial team may have even made money moves that you did not know about.

Without this information, you may not know what the court may consider marital property or separate property. It could also open up the door for your spouse to possibly hide assets.

Maintain your privacy

Unfortunately, divorces -- especially high asset ones -- can turn ugly and often garner considerable attention. As a result, your private information could run the risk of becoming public information through certain court documents. In hopes of avoiding this outcome and to protect your privacy, you may want to determine whether you could have any of your court records sealed during the legal proceedings.

Legal help

As with any legal situation, it is wise to have a professional on your side. A Texas attorney can help you assess your situation and determine your best courses of action for protecting your assets and reaching the property division goals you desire. Your legal counsel can also give you specific insight into how state laws may influence your case and what rights you have that will need upholding. You can also have the opportunity to seek clarity on any aspect of your case that may give cause for concern.

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