High Asset Divorce Comes With Unique Challenges
At Fabio & Merrill in Houston, our lawyers have more than 35 years’ experience representing the interests of individuals who must divide substantial wealth and assets. Our understanding of this process, including all necessary investigation, valuation and accounting that must be performed, is extensive. We are committed to preserving the lifestyle and assets of our clients, protecting their financial situation and business interests.
Complex Property Division — Representation In High Net Worth Divorce
Texas is a community property state. Any property that is brought into the marriage or held during its duration is considered community and therefore must be divided equitably when the couple divorces. The final outcome, if not agreed to, is up to the discretion of the judge, who will divide property in a fair and equitable manner. It is crucial that your representation be equipped with the experience and skill needed to accurately value the assets held by the couple and provide a clear understanding of what would be an equitable division of those assets.
Certain assets are excluded from the division and are characterized as separate property. These generally are limited to gifts or inherited property or properly acquired before marriage, as well as funds received from a personal injury suit. Separate assets must also be thoroughly reviewed, however, to determine if they were used to generate additional funds or assets that could be considered community property.
Business Valuation And Division
If the couple owns a business or a professional practice or has a substantial share in a corporation, the value of those business interests must be included in the division of property. This is a complicated process that must consider the type of business and an accurate value of the company.
Alimony And Spousal Support
In Texas, spousal support can be handled in two ways. Spousal maintenance is a court-ordered amount that the primary breadwinner must pay the dependent spouse for a set amount of time. Alimony, however, is a mutually agreed upon amount that will be paid from one spouse to the other. This may serve as a tax benefit to the payer and a monthly stipend for the recipient. These agreements are sometimes used in division negotiations, acting as a means of leveling out the division and making it equitable.
Contact Us About High Asset Divorce
To learn more about our abilities in asset division and how we can direct the division of your marital property, please contact our attorneys today at 713-568-3341 or toll free at 866-761-1513 for an initial consultation.