Although ensuring that your assets are secure is one of the most important aspects of any divorce, it is especially true for those with substantial or unique property. Fortunately, there are a few simple steps that Texas residents can take to protect their assets, so if you are thinking about filing for divorce, it is critical to speak with an experienced high asset divorce lawyer who can explain your legal options.

Listing Your Assets

One of the most crucial steps that divorcing couples should take is determining which assets belong to whom. This is because Texas is an equitable distribution state, which means that only marital assets must be divided equitably upon divorce. Separate property, or assets that belong to one spouse alone, however, can remain in the sole possession of the original owner. For this reason, providing proof of when and how an asset was purchased is critical to the property division process. In fact, a spouse who can prove that he or she received a particular asset as part of a gift or an inheritance can retain that asset, even if it was obtained during the marriage.