Complications in a High Asset Divorce
High-asset divorces are far more complicated than most other divorces. One of the biggest challenges in such cases is identifying assets as separate property or marital property. Generally, any asset that was owned before tying the knot will remain separate property and anything that was obtained after vows were exchanged is considered marital property. Although that sounds simple enough, property can commingle, making property division a lot trickier to handle.
Additionally, if there is a major disparity in income between spouses, spousal support will likely be ordered to bridge the gap. If there are children involved, child support may also be a substantial amount in high asset divorce cases.
It is also not uncommon for spouses to attempt to hide assets to keep them off the chopping block. It is a tactic that is easier to accomplish when there are so many complex and substantial assets involved, which is why it is essential to hire an attorney with extensive experience in handling such cases. A forensic accountant can also assist in finding hidden assets and determining if they are marital or separate property.
Lastly, high asset divorces are often more time-consuming than other, simpler divorces. Identifying and valuing assets can take time, especially if a spouse refuses to cooperate and disclose the information that is necessary for these proceedings.
Why Choose DebnamRust PC?
- Experienced Litigators: Our Dallas high-asset divorce attorneys are seasoned trial lawyers prepared to advocate for you in court if needed.
- Financial Expertise: We collaborate with industry professionals to manage even the most intricate financial matters.
- Client-Focused: We prioritize your goals and work diligently to achieve a resolution that aligns with your best interests.
- Proven Results: Our track record speaks to our ability to handle high-stakes divorce cases successfully.
Our Comprehensive Approach
At DebnamRust PC, we provide a tailored strategy for each client by focusing on these key aspects:
1. Asset Identification and Valuation
We work with financial experts, forensic accountants, and appraisers to accurately identify and value all marital and separate assets.
2. Complex Property Division
Texas is a community property state, meaning marital assets are typically divided equally. We fight to ensure a fair distribution that considers your unique financial situation and future goals.
3. Business and Professional Practices
Dividing professional practices and business interests requires expert valuation and negotiation to ensure the ongoing viability of the business and equitable asset division.
4. Tax Implications
Our team considers the tax implications of asset division, ensuring that settlements minimize tax burdens while maximizing value.
5. Confidentiality
We understand the importance of discretion in high asset divorces. Our team ensures your privacy is protected throughout the legal process.Why Choose DebnamRust PC?
Schedule a Case Evaluation with One of Our Experienced Divorce Lawyers Today!
If you are going through a high asset divorce, do not hesitate to obtain knowledgeable legal counsel to represent you. At DebnamRust PC in Dallas, our family lawyers are committed to guiding clients through every step of this process. You can rely on us to work tirelessly on your behalf to achieve the results you deserve.
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Reach out to our law firm today at (214) 758-8681 to schedule a consultation with a divorce attorney near you.
High Asset Divorce FAQs
1. What qualifies as a high asset divorce?
A high asset divorce involves substantial marital or separate property, typically including multiple income sources, business interests, or significant investments that require expert handling.
2. How are assets divided in a Texas high asset divorce?
Texas follows community property laws, meaning marital assets are divided equally unless proven otherwise. Separate property, such as inheritances or pre-marital assets, remains with the original owner.
3. What if my spouse is hiding assets?
Our attorneys employ forensic accountants and other experts to uncover hidden assets and ensure full financial transparency in the divorce process.
4. Will my case go to trial?
Not all high asset divorces go to trial. Many are resolved through negotiation or mediation. However, we are fully prepared to litigate if necessary to protect your interests.
5. How long does a high asset divorce take?
The timeline varies depending on the complexity of the assets and the level of cooperation between parties. While some cases resolve in months, others may take a year or more.
6. Can I protect my business in a divorce?
Yes, there are strategies to protect your business, including pre- or post-nuptial agreements and buy-sell agreements. If these are not in place, we will work to negotiate terms that safeguard your business interests.
7. Do I need a prenuptial or postnuptial agreement?
Prenuptial and postnuptial agreements can simplify high asset divorces by pre-determining how assets will be divided. If you don’t have one, our attorneys will work to protect your interests under Texas law.
8. How do I get started?
Contact DebnamRust PC to schedule a consultation. We will discuss your case, evaluate your options, and create a tailored strategy to meet your needs.
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