It is especially important for parties with a high net worth and complex estates to exercise caution when it comes to the question of asset split. The assessment and distribution of such estates can be difficult, particularly when dealing with estates that contain assets located overseas or in other jurisdictions.
Thornton Esquire Law Group, PLLC, has extensive experience handling high-net-worth and complex estates, including estates with assets. Contact us at ww.thorntonesquirelawgroup.com now to learn more. With this knowledge and expertise, our clients have a unique and unmistakable advantage when it comes to presenting the facts of their case before a judge or jury or when negotiating a settlement through mediation.
In Texas, the property is divided on the basis that all property is community property unless it is established that it is distinct property. Separate property is defined under Texas law as property acquired prior to or during marriage through gift or devise (inheritance). The burden of establishing the existence of separate property rests with the party asserting it.
When assets are commingled or hidden and are subject to tracing procedures under Texas law, dividing community property and protecting separate property assets against claims by the community estate or a spouse's separate property estate can become highly complicated. Additionally, financial restraining orders may be used.
Options On Stocks And Other Retirement AssetsTo address the question, "What considerations are taken into account when dividing high net worth individuals?" We cannot afford to overlook assets that are payable or may become payable in the future. Stock options and retirement assets acquired during the marriage should be taken into account during settlement negotiations.
Whether you are the higher-earning spouse, a dependent, or a lower-earning spouse in a high net worth divorce, it is critical that you retain the best divorce attorney possible. Thornton Esquire Law Group, PLLC, is prepared to assist you in compiling a complete inventory of all assets, including retirement accounts and more difficult-to-quantify assets such as stock options. Understand your rights and the entire range of settlement choices accessible to you in order to safeguard your assets through wise settlement negotiations.
While the value of stock options acquired through the employment of a high-earning spouse can be difficult to quantify, they are potentially significant benefits. Appropriate counsel from forensic accountants and industry experts can assist you in defending your entitlement to a fair portion of these assets.
Pension funds may be divided in accordance with the requirements of a qualified domestic relations arrangement (QDRO). Contact an experienced high-asset divorce attorney in Harris County, Galveston County, Fort Bend County, Montgomery County, Brazoria County, Houston, Sugar Land, Missouri City, Stafford, Texas at Thornton Esquire Law Group, PLLC, to understand and protect your interests during the retirement account division process.
High Asset Divorce FAQsOur attorney collectively has decades of experience and are capable of handling even the most difficult divorce and family law matters. Our attorneys are prepared to address any concerns you may have regarding divorce and the divorce procedure.
Will a divorce cause me to lose half of my business?
This is not necessary. While Texas is a community property state, which means that marital property will be divided, this does not necessarily mean that your business would be lost. Even if your business is declared to be community property, we will petition the court to retain the asset and try to secure an order or structured settlement that permits you to pay your judgment over time.
Am I entitled to spousal maintenance?
If you have been married for more than ten years and lack the financial means, education, or earning potential to meet your "minimal reasonable needs," you may be eligible for spousal maintenance.
Will I be required to pay spousal maintenance?
If your marriage lasted longer than ten years and you were the primary breadwinner, you may be required to pay spousal maintenance if your spouse lacks the financial means to meet his "basic reasonable demands."
In my marriage, I have not been the breadwinner. How am I going to make it through my retirement years?
However, even though you were not the earner in the marriage, your contributions to its success contributed to your spouse's prosperity, and you are entitled to compensation and the ability to maintain a similar quality of living over the course of your divorce. A qualified divorce attorney will personalize property distribution agreements and settlements to your specific circumstances, taking health insurance into account. They should attempt to structure assets in such a way that income streams for retirement are maximized so you are not left without resources as you progress through life.
Asset Management Professionals Who Are Experienced, Recognized, and Well-Equipped to Handle Challenging AssetsWhen it comes to family law, experience counts; we have a family attorney in Harris County, Galveston County, Fort Bend County, Montgomery County, Brazoria County, Houston, Sugar Land, Missouri City, Stafford, Texas at Thornton Esquire Law Group, PLLC, who is able to devote the necessary resources to your case in order to protect your separate property assets and obtain the best possible result for you when it comes to the division of your marital estate.
When persons of high net worth marry, prenuptial agreements and marital agreements are not uncommon documents to be exchanged. Those who work with Thornton Esquire Law Group, PLLC, have extensive experience in the preparation, enforcement, and defense of such agreements. An effective prenuptial and marital agreement can help you secure your assets while also reducing the likelihood of future conflict.
Child Support, Spousal Support, and Contractual Alimony Are All Types of AlimonyWhether it is spousal support or child support, or whether it is contractual alimony, the issues are often complicated in cases involving high net worth families. When it comes to divorce, maintaining children in private schools, if they are accustomed to doing so, providing appropriate assistance during the divorce process, and contractual alimony is all issues that must be addressed.
For a Personalized Case Analysis, Please Contact UsMake an appointment with your high-net-worth divorce attorney who serves clients in Houston.