People work hard to build what wealth they have. They try to make smart decisions about their assets and plan well for the future. But when a divorce is imminent, they may feel afraid that they will be short-changed in the division of property. This is a very understandable concern.
If you are experiencing the stress of a divorce and you are worried about asset division, you can benefit greatly from proper legal counsel. An experienced family law attorney can help you address these four common fears.
Things people are afraid of
1. I will lose business assets.
Some businesses take decades to develop. Family businesses can be particularly tricky to divide in a divorce. Many businesses are begun before a marriage, and some are built together by couples. Since every situation is different, get legal advice about your specific situation.
2. I will lose my home.
Your primary residence may represent more than just a house and its financial value, which may be substantial. To you, it may represent family, community and safety. Talk to a lawyer about your options.
3. I will lose a significant portion of my retirement savings.
It takes time to build up your retirement accounts and/or pension. Some people are anxious about losing valuable retirement assets in a divorce. An attorney can evaluate your retirement portfolio and help you develop a plan.
4. I will get cheated on spousal maintenance.
Spousal maintenance, also called alimony and spousal support, is ordered in some Texas divorces. Some people are worried that they will be forced to pay too much or receive too little of it. Spousal maintenance can be negotiated based on numerous criteria that are considered by a judge, like the length of the marriage and the incomes and potential incomes of both spouses.
Divorce is complicated but not impossible. Get the help you need before you agree to anything regarding property division. A knowledgeable divorce attorney can help you make informed choices about your assets.