High-net-worth divorce in Austin almost never goes in a straight line. Instead, cases pass through natural phases of pressure points, deadlines, and opportunities to gain or lose leverage. However, when you understand what are the phases of a high-net-worth divorce case are, you can position yourself to make smart choices and avoid expensive mistakes that haunt you long after your divorce case is over.
At the Law Office of Ben Carrasco, PLLC, we can help you understand these phases and navigate them so your rights, assets, and finances are protected.
Phase One: Filing & Up-Front Strategy
Texas has roughly 2.1 divorces per 1,000 people, according to the most recent CDC data available. This was less than the national rate of 672,502 divorces, with a divorce rate of about 2.4 per 1,000 people in the United States.
All divorce cases begin with the Original Petition for Divorce filed with the Court. Before filing, you or your spouse must live in Texas long enough to establish residency. In high-net-worth cases, the act of filing your divorce is never just paperwork filed at the courthouse.
Phase Two: Temporary Orders Hearing
Temporary orders hearings are where high-net-worth divorce cases are won or lost. During these temporary orders, the following questions are answered:
- Who has control of which businesses?
- Who pays rent or utilities?
- What will the children’s schedule look like until this case is over?
The Travis County Civil and Family Courts Facility, located at 1700 Guadalupe Street in Austin, TX 78701, provides daily temporary orders to distribute families and complex financial assets among divorcing couples. They know high conflict. Even though these orders start as temporary measures, they generate lasting expectations that will influence settlement discussions later.
Phase Three: Discovery and Financial Picture
The discovery process turns high-asset divorce cases into lengthy, intensive proceedings. Here, assets and debts are identified. Financial discovery includes written questions, subpoenas, document requests, depositions, and even forensic accountants.
Business valuations are prepared. Real estate is appraised. Trusts are reviewed. Separate property is traced. Throughout this phase, discovery disputes frequently emerge. They extend your timeline but are often unavoidable in high-net-worth divorce cases.
Phase Four: Mediation and Negotiation
Most courts will require spouses to attempt mediation before reaching a resolution. By this point in your high-net-worth divorce, both sides have conducted discovery. Both parties have a pretty good idea of what the marital estate looks like. Both attorneys have advised their clients what they can expect to win and lose at trial.
Phase Five: Trial Prep and Trial
If mediation isn’t successful, your case will begin to head to trial. Witnesses will be prepared, professional testimony secured, and the issues narrowed at trial. Trials in high-net-worth divorce cases can be dramatic, but in reality, they are completely evidence-based, with very fact-focused judges. A successful high-net-worth divorce attorney knows how to present their client’s case in a disciplined fashion.
Hire a High-Net-Worth Divorce Lawyer Today
A high-net-worth divorce involves many decisions, not just one. Make those decisions wisely by knowing what to expect during the process. When you know the phases of high-net-worth divorce, you can deliberately step through the process and know when it’s the right time to hire a high-net-worth divorce lawyer. The Law Office of Ben Carrasco, PLLC, can help. We understand the laws governing high-net-worth divorces. Contact us today for more information.
