Fort Worth High-Asset Divorce Lawyer

Financial matters are always primary divorce concerns, but in high-asset divorces, resolving the terms that relate to finances is often that much more challenging. High assets are closely associated with high conflict, which can complicate and prolong the divorce process. If you are facing a divorce that involves high assets, consulting with an experienced Fort Worth high-asset divorce lawyer early in the process is in your best interest.

The right lawyer can often be the difference between a fair or unfair settlement under the law.

The Financial Terms of Your High Asset Divorce

Those engaged in high-asset divorces face the same terms as anyone else who is going through a divorce, but the fact that high assets are involved can turn up the heat on the financial terms.

The Division of Marital Property

In Texas, marital property must be divided in a manner that is deemed just and right in the event of divorce. This means that the assets the couple came to own while they were married must be divided fairly – in relation to the involved circumstances – which does not necessarily mean equally. In determining this division, the court takes factors like the following into careful consideration:

• The age and overall health of each spouse
• Each spouse’s earning capacity
• Each spouse’s level of education
• Any dissipation of marital assets by either spouse
• The tax consequences of the proposed division
• Each spouse’s separate assets – those properties either spouse owned prior to marriage and kept separate throughout the marriage
• Each spouse’s financial obligations
• Anything the court considers relevant to the unique divorce case

The division of assets is often one of the most challenging divorce issues, and the more complex the assets, the more challenging you can expect it to be.

Alimony

Alimony only applies in divorces in which one spouse is left without the financial resources to continue supporting themself at the same standard of living achieved during the marriage. If one spouse has considerably more assets and the other’s standard of living will take a considerable hit upon divorce, alimony becomes more likely. In high-asset divorces, alimony has the potential to be a sticking point.

The factors the court takes into consideration when making alimony determinations include:

• Each spouse’s financial resources
• Any separate property owned by either spouse
• The impact the alimony requirement has on the payor’s other financial obligations
• The age, overall health, employment history, and earning capacity of the spouses
• The requesting spouse’s contributions to the other’s education, career, or overall earning power
• Whether either spouse dissipated marital funds inappropriately
• The contributions to the marriage made by the spouse requesting alimony, including as a homemaker

Child Support

While child support in Texas is calculated according to a set process, the court does have the discretion to exceed the state’s set parameters when warranted. And very high assets sometimes trigger the court’s discretion.

When assets are high, each of these terms can be that much more difficult to negotiate.

Complicating Factors

In a high-asset divorce, there is a range of complicating factors that commonly apply, including:

• The act of documenting your household’s complete financials can be challenging in and of itself. This can be even more complex if your spouse has more involvement in your family’s finances or engages in hiding assets.
• You can expect your divorce to take longer and be more costly. Generally, forensic accounting and professional valuations are necessary.
• The more diversified your assets, the more opportunity there is for your spouse to leverage financial advantages for themself, which can obscure the truth and make the matter more difficult still.
• Owning a business and having multiple properties can also be complicating factors.

A Note about Separate Property

While separate assets remain the property of the original owner post-divorce, the matter is rarely this cut and dry. Over the course of a marriage, it is not unusual for separate assets to become entangled with marital property, which can weaken the claim of separateness. For those assets that are deemed separate, however, any increase in their value is likely to be considered marital, and an expansive financial portfolio is a prime example.

Consult with an Experienced Fort Worth High Asset Divorce Lawyer Today

At MBH Fort Worth | Family Law, our trusted high-asset divorce lawyers pride themselves on their impeccable track record for successfully defending our client’s legal rights – in pursuit of fair divorce terms that support their legal rights. High-asset divorces tend to be more complex and tend to require the level of skilled legal guidance we’re poised to provide. Your case is important to you and your children’s future, so please don’t wait to reach out and contact us for more information about what we can do to help you today.