Most divorces, no matter how many assets the couple currently has, have similar issues that the two sides need to negotiate. The division of marital property, spousal support, child support, and child custody are standard issues that need to be resolved. However, when a divorcing couple has a high net worth or many valuable assets, they can face additional hurdles leading to disputes.

Four Common High-Asset Divorce Considerations

The unique complications of a high-asset divorce can require additional preparation and negotiation to ensure a couple’s financial and property interests are divided fairly. Many couples who enter a marriage with a high net worth will prepare a prenuptial agreement to guide property division in the case of a divorce. Others opt for a postnuptial agreement after the marriage. If there is no agreement in place for property division, some of the challenges that high-asset couples can face include:

• Businesses – Businesses that were started or acquired during the marriage are considered marital property and are subject to division. After the value of the business is determined, one spouse can agree to buy out the other’s share, they can agree to sell the business and divide the proceeds, or they can work out a joint-ownership agreement if their relationship is amicable enough.

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The safety of every child is paramount. In the state of Texas, children are protected from neglect and abuse by the Child Protective Service (CPS), which is a division of the Texas Department of Family and Protective Services (DFPS). They investigate cases of physical and mental abuse and neglect throughout the state and can remove children from unsafe environments. While most child protective service cases are well-founded, the system can also be used by a parent for malicious ends. Sometimes it is to try to win greater custody rights of their children and sometimes it is for nothing more than spite or vengeance towards a former spouse or parent of their child.

What to Do During a CPS Investigation

No matter if you are completely innocent of the charges against you, it is still very important to fully cooperate with the investigation. You may feel angry, confused, and scared of losing your child. However, if you do not cooperate with the investigator, it will reflect poorly on you and hurt your case. You have the right to be represented through the process and should retain an attorney who has experience with DFPS and Child Protective Services investigations.

During a typical investigation, the CPS caseworker will:

No matter what the reason behind your divorce or whether it is an amicable separation or a contentious breakup, discussing the divorce with your children will potentially be the most difficult conversation you’ll ever have. The way you and your spouse address the situation and the children’s reaction will have a lot to do with their age, but carefully planning out what you will say and how you respond to their questions is also important. Whether your children are expecting the news or it is coming as a complete shock, your preparation and reaction are key to keeping a positive environment.

Prepare for the Conversation and the Questions Afterward

Divorce will be an emotional time for everyone involved. Making sure that both parents are on the same page and present for the conversation is key. The following tips are helpful for you to come up with a plan for how to discuss your divorce with your children before it happens.

Plan your conversation ahead of time – Make sure you have a plan of how you will be sharing the news with your kids and stick to it. It is best to use direct, honest, and simple language to avoid any confusion. You can best judge what language to use based on the age of your children.

The end of your marriage can bring about many questions about your future life. One of the most unsettling for many is how secure their financial situation will be. For many spouses who may not have held employment while they were married due to a variety of circumstances, being divorced will leave them without a sufficient income. While Texas has relatively strict criteria to meet to receive alimony, also known as spousal support or spousal maintenance, there are a limited number of ways to qualify which will help you meet your financial needs.

Qualifying for Spousal Support in Texas

In Texas, there are three ways that you may receive spousal support after your marriage:

• Support was agreed to by your spouse in a prenuptial or postnuptial agreement.

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During a divorce with children, much of the negotiations and mediations are focused on the visitation or physical custody of the children as well as the power to make important decisions about the children. In Texas law, these are known as possessory conservatorship and managing conservatorship, respectively. In many cases, the parents can work together to create a parenting plan that meets the children’s needs and addresses possessory conservatorship and managing conservatorship. However, in some cases, parents cannot come to an agreement, and the decisions may be made by court order. It is essential to hire a child custody lawyer experienced in contested custody cases and who knows the factors the court will consider when making its decision.

Factors in a Contested Child Custody Case

Through negotiations or mediation, parents can often create a parenting plan which addresses issues such as the children’s primary residence, a visitation schedule with each parent, how the parents will share decision-making responsibilities, and how the order will be enforced and modified if necessary in the future. The court will approve this agreement if it meets the best interests of the children.

In this contested child custody case, a judge will weigh several factors in determining how managing conservatorship and possessory conservatorship will be divided. Throughout the process, the children’s best interests will be paramount. These factors can include: