Houston High Net Worth Attorney: Protecting Your Assets.
A divorce is often stressful and complicated and those undergoing a high-net-worth divorce must take extra care in the division of assets. Valuing significant assets such as property can be challenging, particularly if foreign assets are involved.
At Skillern Firm, we are highly experienced in dealing with high-net-worth divorces, including those with complex marital estates and offshore or foreign assets. Our experience gives you the best possible chance of securing an outcome that leads to a bright future.
Contact Skillern Firm
The legal team at Skillern Firm is composed of the very best family law attorneys. We take the time to get to know our clients and adapt to their individual needs. We understand what a stressful time this can be and we want to make the process as easy as possible for you while protecting your rights and lending a sympathetic ear when you need it.
Contact a Houston high-net-worth divorce lawyer at Skillern Firm today and schedule your consultation. We are here to help you secure the future you deserve, as quickly as possible.
Contact us today at 936-213-8479.
How Are Assets Divided in a Houston High Net Worth Divorce?
Houston high-net-worth divorces can be particularly stressful and complicated. Texas is a community property state, which means that assets are divided into separate and community property.
In Texas, property acquired during a marriage is presumed to be community property, which means that it is shared by both parties equally. This can include a large marital estate as well as any other substantial assets.
However, Texas Judges have a range of options when deciding how to divide community estate. Community property does not necessarily mean 50-50. A Houston high-net-worth divorce lawyer will know how to fight for distribution of the estate to best serve our client’s interests. Here is one of the areas where a divorce lawyer can prove invaluable:
Under Texas law, any assets that an individual party obtained before the marriage is considered separate property and therefore belong to that individual.
However, dividing assets is usually much more complicated, especially in cases involving high-value assets. For example, there may be inheritances or gifts to an individual that were given during marriage, as well as marital assets such as pensions or stock bonds that are difficult to divide.
Other complex issues that your high-net-worth divorce lawyer can help you to address include:
- What separate property exists that, by law, cannot be divided?
- Is there a prenuptial agreement, and is it enforceable?
- Does the income disparity between the spouses put spousal support in play?
- Is the other spouse hiding assets or downplaying income?
- Were marital assets expended or wasted on an extramarital affair (gifts, housing, travel, etc.)?
- Will one party stay in the main residence, or will it be sold?
- Will child custody be shared? If not, how will the other party support the child?
During any divorce, child support is often one of the most contested issues. If your child attends a private school, for example, then you may be concerned about how this will be paid for.
At Skillern Firm, we are committed to working with families to create solutions that are best for children and our clients. We are skilled in negotiations and mediation and will work to obtain a fair settlement outside of court where possible. However, where a trial is required, we will be prepared to fight aggressively in front of a Judge.
Valuing And Dividing Complex Asset Portfolios
High-net-worth divorce often involves businesses, foreign assets, bonds, and other complex assets. At Skillern Firm, our high-net-worth divorce lawyers have extensive experience that allows us to locate and value assets such as:
- Life insurance policies.
- Retirement accounts.
- Patents and intellectual property.
- Rights and royalties.
- Private and public companies.
- Stocks and bonds.
- Oil and mineral rights.
- Foreign employee benefit plans.
- Domestic and foreign real estate.
Property division in high-asset divorces quickly becomes complicated, especially where one spouse owns substantially more assets than the other. Fortunately, our divorce lawyers in Houston have the in-depth knowledge necessary to handle your case with the care and consideration it deserves.
Stock Options And Retirement Assets
When handling property division in a high-net-worth divorce, assets that are payable in the future may also be considered. For example, if retirement assets and stock options are neglected during the divorce proceedings, you could end up with an unfair settlement.
Stock options through a spouse’s employment are difficult to quantify. Therefore, it may be necessary to seek expert advice from forensic accountants and industry leaders to help protect your right to your share of these assets.
Retirement accounts can also pose a challenge. For example, it may be necessary to divide them per a Qualified Domestic Relations Order (QDRO) as a part of the divorce decree. Again, an experienced divorce attorney can prove invaluable in protecting your interests in these situations.
High-net-worth divorce lawyers at Skillern Firm will take a detailed inventory of all assets, including those more difficult to quantify. We are committed to protecting your rights and will work tirelessly to secure your future, regardless of whether you are the higher-earning spouse or the lower-earning spouse.
Q: What is a-high asset divorce?
A: A high-asset divorce is one where the parties have substantial assets.
Q: Does a good divorce lawyer make a difference?
A: During a high-asset divorce, it is imperative to have representation from a skilled lawyer. It is the only way to ensure that your rights are protected and that you have what you need to secure the best possible future for yourself. In addition, knowing you have an accomplished attorney by your side will result in a faster and less stressful settlement.
Contact a Divorce Attorney Today
At Skillern Firm, the attorney-client relationship is at the heart of everything we do. We are here to ensure that your rights are protected, the settlement is fair, and you have what you need to move on with your life in the best way possible.