Experienced High Net Worth Divorce Attorneys in Texas
Divorce is never easy for anyone, but with more assets at stake, dividing them can become especially complex.
Divorce is never easy for anyone, but with more assets at stake, dividing them can become especially complex.
What makes a “high net worth divorce” is if you and your spouse have a large amount of liquid assets, significant property, investments, and other financial holdings, usually a combined net worth that exceeds five million dollars. There is a long list of challenges that can arise during a divorce such as hidden finances or characterization of assets and debts as community or separate.
If you have a high net worth, you need an experienced divorce firm like Toombs Imel & Associates that understands how best to protect you and your assets.
Preparing for a High-Net-Worth Divorce
Information is key. Unless both spouses have equal access to financial information and equal understanding of such assets, a quick settlement is generally inadvisable for the spouse with little to no access. Settling too quickly without the necessary information can have disastrous consequences. But you must have experienced counsel who knows what information is needed and how to request it.
To ensure that you get the best outcome from your case, understanding strategies for asset protection and discovery is critical. At Toombs Imel & Associates, we are resourceful and have an extensive network of professionals ready to secure your financial future should the need arise.
How can I protect my assets?
It is essential to have a strategy in place when protecting your assets during a high-net-worth divorce. One strategy is to execute a prenuptial agreement before marriage.
This document is simply a contract between prospective spouses which outlines how assets will be divided upon a divorce and how each party will own and manage property during marriage. Even if you did not execute a prenup, Texas strongly favors the freedom to contract, meaning you and your spouse can still create a postnuptial agreement.
Working with the right attorney who specializes in high-net-worth divorces and knows how to appropriately draft documents to protect you and your assets is essential if you are strongly contemplating a divorce.