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How do I prepare to start a high-asset divorce?

On Behalf of | Apr 6, 2021 | High-asset Divorce |

In a divorce, the key to defending the best interests of you and your family is preparation. Divorce has lasting consequences that can affect what resources you have in the future, where you live, how you live with your children, and can cost a spouse thousands of dollars or more.

In a high-asset divorce, a spouse stands to lose much more than that amount. A spouse’s steps before initiating a divorce can considerably improve its outcome, so here are four key steps someone can take to defend themselves through a divorce.

Get accurate appraisals

When it comes time in your divorce to divide major assets like homes, cars, and even shared collectibles or heirlooms, you want to be sure that you are negotiating over the accurate value of it. Without an accurate appraisal, you may wind up offering more than you need to in exchange for ownership of an asset. Do due diligence in choosing an appraiser you can trust, and avoid allowing your spouse to choose the appraiser for the both of you.

Assemble your critical documents

Accurate paperwork is invaluable in a divorce. Essential documents like medical records, tax documents, pay statements, property titles, mortgages, and purchase receipts can all help prove your situation in a divorce. If you cannot obtain the original document, try to obtain a copy and keep them all in an easily accessible place.

Seek hidden assets and funds

A forensic accountant is someone who knows how to track down valuable assets and funds that your spouse may be hiding from you. These hidden funds are something that you want to come to light in a divorce; otherwise, you may miss out on getting your share of them entirely. Do not assume that there is nothing to find, and be sure you look into this matter.

Choose an experienced attorney

A spouse should never undergo a divorce without an attorney. In a high-asset divorce, you should want to have an experienced Board-Certified Family Law expert Texas attorney that has experience in these high-asset matters. When your lawyer is familiar with the kind of divorce you face, they can better prepare themselves to secure the best possible outcome in your high-asset divorce.