One of the things that can really complicate the divorce process is property
division. This process can be particularly complicated if
high net worth individuals are getting divorced. Prenuptial agreements (prenups) are
more popular than ever, but not everyone decides to sign one before getting
married. If you did sign one prior to the marriage, you would have a much
easier time dividing your property; otherwise, you could be looking at
a lengthy court battle.
high net worth refers to an individual who has at least $1 million in liquid assets,
which means it can be converted to cash at any time. The rest of his or
her assets could be in stocks or in
property. These individuals tend to have particularly complex financial portfolios,
so it may take a while to keep track of them.
During a divorce, all married individuals must divide marital property
equitably, unless they signed a prenup that stated otherwise. Marital
property includes any asset acquired during the course of the marriage,
particularly if the couple shared the expense.
Sometimes individuals of high net worth must rely on forensic accountants
to locate and list all their financial assets so everything can be valuated
and split up as equitably as possible. This investigation can take time,
particularly if one-half of the couple is hiding assets away until the
divorce is over.
In order to make the process go as quickly as possible, it’s best
to keep all your assets up front and unhidden. Forensic accountants are
highly trained individuals who understand how to sniff out hidden funds.
Bringing everything out in the open will save you time, making the process
go faster. Likewise, a skilled
Houston divorce attorney will understand how to handle a high asset divorce.
Our lawyers at the
Law Office of Kathryn Marteeny are dedicated to offering caring and effective advocacy for the families
in Houston and the surrounding areas. If you need assistance handling
a high asset divorce, don’t hesitate to call us. We can offer you
more than 30 years of legal experience. Let us see what we can do for you.
Contact us at (713) 936-2300 or fill out our online form to schedule a free case