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High-asset divorces can be more complex

On Behalf of | Dec 10, 2021 | Divorce |

No matter what your circumstances are, the divorce process is rarely straightforward. There are numerous factors at play at any time, all of which can impact your future and well-being.

At the heart of the procedure is the division of property and assets. Where a divorce is highly contested, these issues can be difficult to address. If your divorce is high net worth, then distributing property and assets can be even more problematic. Outlined below are some of the unique factors of a high-asset divorce.

Determining the value of your assets

Even in cases that contain a minimal amount of property and the family home, it can be tricky to obtain accurate valuations. However, in a high-asset divorce, there are likely to be multiple properties and business ventures that need to be assessed. This process can be time-consuming and often requires couples to enlist the help of experts in the field. If numerous experts are employed, they may not all agree and further disputes could arise. The valuation of your assets and business needs to be certain, as the court will require parties to testify or provide written statements that show how your assets were objectively valued.

Getting it right is key for future success

Ensuring that accurate assessments are carried out during the divorce procedure is pivotal. The way that property and assets are divided will greatly impact the future productivity of your business. Losing a controlling share of your commercial interests could affect morale and productivity as well as fundamentally change your outlook.

Protecting your business interests and assets throughout the divorce procedure is a crucial endeavor. Having a firm understanding of your legal rights in Texas should ensure that his process runs smoothly.