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Settlement agreement can cover retirement accounts, other assets

| Jan 18, 2018 | High Asset Divorce |

Negotiating with a future ex-spouse on a settlement agreement in Texas may seem like an arduous mountain hike. However, the process does not have to be difficult. A couple of tips may help with negotiating divorce settlements, especially when dealing with retirement accounts or other potentially high-value assets.

First, knowing one’s finances is paramount. When spouses who are going through divorce understand their finances, they can make more informed decisions regarding matters such as wealth distribution, child support and spousal support. Without an understanding of their finances, and without appropriate deliberation, those going through divorce may end up losing hefty amounts.

Second, understanding the worst- and best-case scenarios might be helpful. An attorney can easily explain the best or worst situation a spouse may find himself or herself in given the circumstances surrounding the divorce proceeding. Then, the attorney can use the spouse’s feedback to help the spouse to make the best settlement decision.

Working toward a settlement agreement with the help of a qualified attorney in Texas offers multiple benefits, including being a less stressful and less costly process when compared with traditional divorce litigation. However, this process does not work for every couple. Divorcing couples who are unable to find common ground at the negotiation table have no other option but to proceed to divorce trial, where a judge will ultimately decide how their property, including their retirement accounts, should be divided. The outcome of a trial, however, may not necessarily be what the couple expected or wanted.

Source: goodmenproject.com, “5 Easy Tips On Negotiating Your Divorce Settlement Agreement“, Suhail Ajamal, Jan. 11, 2018