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Divorce involving retirement accounts, other assets can be tricky

| May 16, 2018 | High Asset Divorce |

Sometimes, marriages in Texas come to an end no matter how hard couples try to make them work. However, that does not necessarily mean the divorce process has to be a drug-out, painful one. This is true even if two spouses may not necessarily be on the same page when it comes to dividing retirement accounts and other assets. A couple of tips may help with navigating the divorce process in the most efficient and positive way possible.

First, staying organized is important during each stage of the divorce proceeding. After all, the more organized a spouse is, the more quickly he or she can get through the marital breakup process. Being organized starts with gathering all of the key documents — for example, bank statements — and arranging them in a binder that makes them easy to find when needed.

Second, keeping the big picture in mind is paramount from start to finish. The ideal situation is to find a balance between bargaining with a soon-to-be-ex and pursuing what one truly wants out of the divorce. A common mistake is to get stuck on a certain aspect of the divorce deal and not be willing to budge on it, as this can drag out the divorce and make the two parties’ relationship sour even more.

No aspect of divorce is easy in Texas. However, if divorcing spouses can find common ground, they may be able to resolve their issues outside of court. If not, they have no choice but to go to trial to deal with the division of retirement accounts and other assets. An attorney in both situations will ultimately pursue the client’s best interests and ensure that his or her rights are not violated during the divorce proceeding.

Source: cnbc.com, “6 strategies to get a divorce without going broke“, Lorie Konish, May 10, 2018