Southlake High Net Worth Divorce Attorney

Even amicable divorces can become complicated, especially when high net worth is a factor.

Many couples from affluent Southlake neighborhoods like Carillon, Westwyck Hills, and Timarron have diverse portfolios that include savings and investment accounts, real estate, one or more businesses, and valuable personal items like jewelry and art. When these couples divorce, contentious legal battles over these assets are not uncommon.

At Mims Ballew Hollingsworth, we have the knowledge and experience to guide you through your high net worth divorce. We look out for your best interests and fight for a fair and equitable settlement when the stakes are high.

Some law firms designate one attorney to handle your case and that person is the only lawyer who will be involved in your divorce. That’s not how we work at MBH Family Law. Pooling our combined 100 years of knowledge and expertise, our experienced family law attorneys collaborate on every case to ensure that each client receives the absolute best legal representation possible.

Understanding High Net Worth Divorces

If you have considerable assets, you might wonder whether it’s worth it to seek out an attorney who focuses on high asset divorces. Does your divorce fall into this category? What is considered a high net worth divorce?

There really are no strictly defined parameters for high asset divorce. At one time, any divorce with assets exceeding a million dollars qualified. Today, however, many consider a high net worth divorce to be one that involves at least $2 million in assets.

Often, such divorces are not only high-value but also highly complex. They may include difficult asset valuations, complicated matters of business ownership and valuation, and a diverse portfolio that includes multiple properties, overseas assets, and trusts, for example.

Why Choose MBH for Your Asset Divorce?

When you are navigating a high asset divorce, you want a steady hand at the wheel. Westwyck Hills, Vaquero, and Timarron residents turn to the Southlake high net worth divorce lawyers at MBH Family Law for representation that gives them peace of mind.

Knowledge and Experience

With over 100 years of combined legal experience, the qualified attorneys at MBH are prepared to hit the ground running. Four of our attorneys are board-Certified® in Family Law by the Texas Board of Legal Specialization. We know how to handle sensitive issues related to asset divorces, from valuing and dividing assets and trusts to addressing your concerns about your business.

A Personalized Approach

When you choose MBH, you benefit from a talented team of lawyers experienced with cases like yours. We tailor our services to your case, developing creative strategies that fit your circumstances and the difficulties involved in evaluating and dividing a complex portfolio of assets. You’ll receive attentive and responsive service from caring professionals ready to personalize your experience and make sure your best interests are the top priority.

Tailored Legal Strategies for Complex Settlements

During a divorce, high net worth individuals may have several goals regarding financial negotiations and family relations. Identifying and valuing assets can be tricky, and coming to a fair settlement may require sensitivity and a flexible mindset. With bespoke strategies designed to protect your wealth, we work hard to secure favorable terms.

Identification and Valuation of Assets

Texas is a community property state, which means that assets obtained during the marriage must be equitably divided during a divorce. Once community assets have been identified, they may be valued through appraisal or calculating fair market value.

Strategic Asset Division

Equitable distribution may not necessarily be equal, but it should be fair. While the value of the assets is important, other factors like liquidity, tax consequences, and growth potential may play a role in strategically dividing community property.

Focus on Privacy and Protection

In Texas, divorce records are public and may contain sensitive information, including details of asset division, spousal support, child custody, and child support. Most people do not want these details made available to the public, but they can be particularly detrimental to high net worth individuals.

MBH will strategize the best ways to protect your family and keep your divorce terms private through options like alternative dispute resolution or a settlement that includes a confidentiality clause. We can also request that the court keep divorce records under seal to protect your privacy and shield your children from public inquiry.

Trusts and Asset Protection in High Net Worth Divorces

Trusts in high asset divorce can be tricky. A trust created before marriage and funded by only one partner is typically the sole property of that partner, while a trust created during the marriage and funded with joint assets is considered community property and subject to division.

However, it may not be so cut-and-dried. Difficulties could arise depending on the terms of the trust and many other factors. If your high asset divorce involves one or more trusts, you need qualified legal advice in order to protect your assets.

Leveraging Expert Witness and Appraisal Professionals

Expert witnesses in a high asset divorce may include forensic accountants, financial advisors, and tax professionals. These witnesses may search for concealed assets or offer testimony regarding each spouse’s financial state.

We also call on professionals to appraise real estate, collectibles, businesses, and other assets. These appraisers help our team calculate accurate values for complex portfolios so they can be equitably divided. MBH has curated a network of top-notch professionals for this purpose, and we collaborate closely with experts to determine fair valuations.

Tax Considerations and Financial Implications

The potential tax consequences of dividing assets can impact the equitable nature of the division. That’s why it’s important to understand the short-term and long-term implications of agreeing to take or give up certain assets in a high net worth divorce.

A skilled and experienced divorce attorney can help you understand these points and create strategies for financial restructuring and planning following divorce so you can make the most of your future.

Achieving Equitable High Net Worth Divorce Settlements

Even if you are confident in managing your current wealth and assets, a divorce can shake up your existing portfolio and lead you to make emotional decisions.

Between asset division, alimony and child support, long-term wealth management, and other considerations, it’s difficult to achieve truly equitable high asset divorce settlements. Carillon and Vaquero residents can benefit from the guidance and support of a seasoned divorce lawyer with relevant experience in these cases.

Secure Your Financial Future With Southlake’s Leading Divorce Attorneys

Your goals for divorce may revolve around financial matters like the equitable division of assets, alimony, child support, child custody, and ongoing wealth management. Our Southlake high net worth divorce attorneys at MBH are more than qualified to handle each of your concerns.

If you also want a personalized experience from a caring team committed to discretion and privacy, MBH Family Law has everything you are looking for. Contact us now to discuss your case and discover how we can represent your interests in a high asset divorce.