For some spouses in Texas, they did not see a divorce coming. Even when a relationship is rocky, spouses may be under the impression that they will be able to make it work. Unfortunately, roughly half of all marriages end in divorce. Because of this, it is important for spouses young and old and those in short and long-term marriages to fully understand how this process will impact them now and in the future. In other words, it is essential to know how property and assets will be split, and in cases of a high asset dissolution, what can be done to protect significant accounts
One or both spouses to a marriage have likely worked hard to accumulate the property and wealth they currently have. Thus, there is a lot at stake during a divorce. At the Law Office of Michael D. Tracton, P.C., our legal team is available to help divorcing spouses in the Sugar Land area understand their options and how best to protect their assets during a high asset divorce.
Our law firm understands that prenuptial and postnuptial agreements are not always included in marriages, even when there is significant wealth. While one may have trusted the other spouse at the time of marriage, things might have changed now that they are parting ways. Property, real estate, investment, retirement accounts, business assets and bank accounts could all be up for division if they are deemed marital property.
With the use of forensic accountants, our law firm not only takes the time to obtain a full picture of all assets involved, but we use these financial experts to value these accounts and property. This process can help determine whether certain property is marital or separate, and in the event that it is marital, how property should be divided so it is fair and equitable.
To learn more, check out our law firm’s high asset divorce website. Divorce can be a complex and high conflict process. This is especially true when divorcing spouses have a great wealth to divvy up. This can cause some spouses to take steps to protect certain assets, even attempting to hide them from the entire process. To ensure that one gets a fair and equitable division, it is important to get a full financial picture and assessment of the value of all property and assets to be divided.