Divorce, as Texas citizens are almost certainly aware, is never a pleasant or easy process to go through. For more financially well-off couples, though, divorce can be a significantly different ordeal to undergo. Thankfully, a recent article has outlined some of the more helpful bits of advice to combat the issues that martial splits involving lucrative businesses or millionaires can often cause.
The first step towards streamlining the unfortunate divorcing process should take place before a marriage even begins. Choosing to form a mutually beneficial prenuptial agreement can be one of the most effective and sensible means to prevent a divorce from becoming overly expensive and complicated. It is not enough to merely form such an agreement, however: couples must be willing to at least regularly update the agreement in the event that any significant business changes take place.
Next, though it may be difficult, it is also important to put differences aside and come to a decision involving the division of assets as quickly as possible. Generally speaking, splitting assets in a way that completely satisfies those involved can be a tricky endeavor. Still, it is worth the effort to put thought and consideration into the dealings, so the process does not drag on longer than necessary. The report indicates that marriages able to resolve in an efficient manner can cost a very small fraction of those in which the dealings break down altogether.
Finally, and as clichéd as it may sound, Texas parents should remember to think of the children. Often there are limitations imposed on the maximum amount of money a child can receive from an absent parent after a divorce, so maintaining their standard of living is not always an easy task. Additionally, there are also studies that demonstrate the negative impact a divorce can have on childhood development, so getting legal affairs in order and remaining as civil as possible will help minimize stress levels.
Source: The New York Times, “From a Divorce in the Affluent Class, Lessons for All,” Paul Sullivan, Aug. 9, 2013