Divorce is always upsetting, and most of us don’t imagine it happening in our lives. Unfortunately for many, divorce is a reality they have to face. If you’re going through the divorce process or are about to and you have a considerable number of assets, you’re likely worried about what will happen to those assets. Please continue reading and reach out to our experienced The Woodlands high net worth divorce lawyer to learn more about high asset divorces and how our firm can help protect what’s rightfully yours. Here are some of the questions you may have:
Why are high-asset divorces more complicated?
Though high-asset divorces involve many of the same things that more standard divorces involve, such as child custody or spousal support, they tend to be more complicated when it comes to the property distribution portion of the divorce process. This is because spouses with over $1 million in assets frequently own a wide range of non-traditional assets, including:
- High-end jewelry
- Memorabilia or collectibles
- Luxury vehicles
- Stock options
- Cryptocurrency
- Business ventures
- Retirement accounts
Additionally, if you and your spouse have intermingled assets, such as funds held in joint bank accounts, they will likely be considered community property, and the courts will have to distribute that property equitably between both of you.
Should high-asset individuals draft prenuptial agreements?
If you aren’t already married and possess over $1 million in assets, one of the smartest things you can do is draft up a prenuptial agreement with your future spouse. In this agreement, you can outline exactly which assets will go to each spouse. You can also outline a future spousal support arrangement if you’d like. If you’re already married, you may still draft a postnuptial agreement, which serves the same basic purpose.
Do I need an attorney?
Whether you’re going through the divorce process without a prenuptial or postnuptial agreement in place or you’re looking to draft such an agreement, it’s always best to retain the services of a competent The Woodlands, Texas divorce lawyer who has extensive experience in the field. We understand all that is at stake, and you have our pledge to fight for your hard-earned assets, every step of the way. Give us a call today so we can get started working on your case.
Contact Our The Woodlands, Texas Firm
If you are looking for an expert Montgomery County divorce lawyer, Bolton Law is the right law firm for you. Bolton Law’s legal team handles all family law matters, including divorce, child custody, child support, spousal maintenance, and much more. Contact Bolton Law today to schedule your initial consultation.
The post Why High-Asset Divorces in Texas Are More Complex appeared first on Woodlands TX Family & Divorce Lawyer.
