Once a married couple decides to divorce, they have quite a bit of work in front of them to complete the process. One of the most important aspects of a divorce is the division of assets and property. This phase of the process can also become very contentious if the spouses disagree about who should get what. Things can get even more difficult if there is a question as to what items are actually in play for division.
In order to determine what assets exist and how they should be divided, both parties must present documentation that inventories their holdings. This presentation of documentation is part of a process known as “discovery.”
The discovery documents contain information about property holdings and personal income. Both parties have the right to look at any documents that may be used to help resolve disputes involving such issues as alimony, child support, and child custody.
When compiling discovery documents, it is very important that you account for your holdings honestly. This will allow your attorney to have the best chance of helping you get a fair settlement. While it may be tempting to keep certain assets off the record, you could end up being seen in a negative light by the court should these hidden assets be discovered by your spouse and her or his attorney.
The divorce process can involve a lot of paperwork. This is especially true in the case of high asset divorces. To make sure that everything is properly accounted for, you may wish to have a Texas family law attorney go over all your important documentation and the documentation submitted by your spouse. The attorney could work toward getting you a fair settlement.