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As a business owner, your divorce could be complex

| Nov 29, 2018 | Firm News |

As a business owner, you have worked hard to achieve success. In fact, along with your success, it’s likely you have earned a considerable amount of wealth. While money is not everything, you do believe in protecting your assets.

Now that you are going through a divorce, you understand that considerable wealth will make matters more complicated. However, you likely also know there are things you can do to achieve the best possible outcome. Of course, it will take time and effort.

Tips for high-asset divorce

Before the divorce process begins, you will need information. You need to understand the assets involved, their value and to whom they belong. Here are tips:

  • Review your prenuptial agreement: If you signed the agreement years ago, re-familiarize yourself with the terms.
  • Obtain property documents: In order to understand your assets, it will likely work in your favor to obtain property-related documents, such as titles and deeds. It is also important to have information regarding your bank and retirement accounts.
  • Recognize differences in value: If you had a savings account with a certain amount of money and a retirement account with the same amount, remember the values of these accounts differ.

Though you are business savvy, you undoubtedly have professional help when it comes to dealing with the finances of your company. You could benefit from approaching your divorce in the same matter. Trying to understand all the asset and financial-related details can prove complicated, and you do not want to make any mistakes.

Enlisting help

When going through a complex divorce, having the right help could make all the difference. By enlisting the help of a Texas attorney experienced in high-asset matters, you may give yourself an advantage as your case proceeds. This legal professional can help you determine what documents you need to obtain and what strategies may allow you to work toward your desired outcomes.