The prospect of dividing property during a divorce can be difficult under most circumstances. The process can be especially challenging when significant assets are on the line and you have your child’s financial future to think about. If you are dealing with the prospect of a high-asset divorce, a seasoned property division attorney from our firm could help.
If you are concerned that the courts may not fairly divide the assets you have accumulated during the course of your marriage, the right legal counsel could provide you with peace of mind. Let a Pearland high-asset divorce lawyer review your finances and advise you on your next steps.
What Are The Challenges Of A High-Asset Divorce?
There are challenges that are unique to high-asset divorces. When couples have limited assets at their disposal, there are few decisions to make when it comes to property division. That is not the case for high-asset divorces.
High-asset divorces can be complex for a number of reasons. Many parents with significant financial assets at their disposal could have assets that are challenging to place a monetary value on. Additionally, substantial real estate holdings or closely-held businesses can take significant time and effort to evaluate.
A high-asset divorce could also deal with specific financial assets that are not common with most marriage dissolution cases. The existence of these assets could make it difficult for the court to fairly distribute marital assets in a timely manner. These assets could include:
- Ownership in small businesses
- Oil rights
- Mineral rights
- Commercial real estate
- Offshore property
- Valuable art or antiques
A lawyer in Pearland could help parents protect their families while working through the challenges of a high-asset divorce.
Focusing On Asset Valuation
Pearland is in a community property jurisdiction, meaning that the laws that determine how property is divided during divorce proceedings are very different from most other states. Under community property rules, the court treats most property acquired during the marriage as marital property. This is important because courts have the power to divide marital property. That is not the case with separate property, which is owned individually by one spouse or the other.
An attorney in Pearland could assist with this part of the divorce process by making the case that certain high-value assets should not be treated as marital property. This is possible through a number of tools, including:
- Forensic accounting
- Asset appraisals
- Expert witnesses
- Electronic record experts
Valuing assets correctly and ensuring that assets are not subject to property division laws are two important ways an attorney could help in a high-value divorce.
High-Asset Divorces Cases And Children
High-asset divorces can be particularly challenging for couples with children. For example, conflicts regarding trust funds or college savings plans could be an issue in a high-asset divorce that might not come up during the dissolution of other marriages. Because either one or both parents own significant assets, this also plays a major role in how child support is determined.
Additionally, it is not uncommon for married couples with significant assets to own vacation homes or secondary properties. Parenting plans might need to take into account possession and visits to these properties with the children. A lawyer in Pearland could help parents through a high-asset divorce.
Call A Pearland High-Asset Divorce Attorney Today
With so much at stake financially, you should not pursue the divorce process on your own. A Pearland high-asset divorce lawyer could offer support and guidance for your family during this challenging transition. To get started, schedule a consultation today by calling us at 713-714-3710 in Houston or at 512-572-1207 in Austin.