The process of legally dissolving your marriage is likely to be one of the most emotionally involved and complex periods of your life. However, as you work through the more practical concerns of a divorce—particularly those regarding the division of assets—the divorce process can be made all the more complicated if you or your partner has a high net value.
As The Woodlands high net worth divorce attorneys at BB Law Group PLLC know, your life will be greatly affected by the divorce settlement agreed on between you and your partner. With a high net worth divorce in The Woodlands, the stakes may be higher, and it is important to do everything you can to protect your rights and future throughout this process.
Complexities Involved in High Net-Worth Divorces
As a community property state, Texas presents additional problems for individuals with a high net value as they work toward a fair divorce agreement with their partner. With that in mind, The Woodlands legal team may work with you to resolve issues involving:
- Assets held in stock options, investment portfolios, trust interests, and retirement plans
- The differentiation of community property from individually owned property
- How pre-nuptial or post-marital agreements will affect your assets
- The valuations of family businesses
- The potentiality of hidden assets
The Woodlands legal team understands how critical this process will be for you as you begin this new period of your life. Speak with a divorce attorney in The Woodlands about what you want from your separation, as legal representation may help you develop legal strategies intended to protect your interests throughout any issues related to asset division.
Did you Know?
1) Prenuptial Agreements Do Not Always Mean an Easy Divorce
Prenuptial agreements can be rebutted. One of the first things a divorce attorney for your spouse is going to do is assess whether the premarital agreement was made under duress, whether certain aspects of the financials and property were not disclosed, and whether provisions in the agreement are not binding by law due to the prohibition of such terms in prenuptial agreements. Furthermore, while you may have a legal, sound agreement, the attorney may still bring up these arguments to represent your spouse and catch you off guard. While you may be able to learn enough law to know that your agreement is sound, you will likely not be able to address the proof of that fact or adequately address every argument the opposing counsel brings up to question the agreement’s validity. This is where BB Law Group PLLC can step in and help you make the right arguments and assessments and preserve your rights under conditions agreed upon before marriage.
2) Community Property (and Debt) is Complex to Sort and Divide
Most property acquired during the marriage will be considered both spouses’ property and is up for division to either spouse upon divorce. However, whether the property (and debt) really ought to be considered community may be questioned if an individual brought to the marriage separate property that led to the acquisition of the disputed community property during the marriage. Hiring BB Law Group PLLC will help you handle this issue because it may be possible to separate all or a portion of that property from the community estate and allocate it appropriately to the party who acquired it in the first place. This is not an easy task, and it is usually proved by scouring financial records for transactions while creating a timeline of how and when property was acquired, transferred, etc. BB Law Group PLLC can help you with this process and ensure that property – whether stocks, bonds, houses, boats, etc. – are awarded to the right party.
This same logic applies to debt because if any exists and is not accurately defined and addressed in the divorce, you may be liable for the debt in which you held no interest. BB Law Group PLLC will help you address these concerns and ensure that no debt incurred during the marriage by either party is left undeclared, undivided, or misappropriated. Avoid arguing over whose debt is whose and call (832) 534-2589 to discuss your case and your rights to receive and release particular property and debts.
3) Child Support and Spousal Support Happen
Child support is almost always ordered in divorces where children are involved. Hire BB Law Group PLLC to help you navigate the support system so that your family’s interests best meet your interests. Not only will any prenuptial agreement conditions regarding child support be voided, the Attorney General’s office will not grant child support that the office deems inadequate compared to the obligor’s income. Additionally, while judges may not want to award spousal support, it is within their discretion to determine such – and the amount to be paid – when presented with compelling evidence. Having an attorney from BB Law Group PLLC on your side to negotiate these matters and provide the best representation of your finances and financial obligations will ensure that you are awarded a desirable outcome on these issues in the decree.
4) A Divorce Decree is Final
A divorce decree will be final once ordered, and there is little opportunity to change a divorce order concerning property. If anything is forgotten or not addressed, you will lose the opportunity to reallocate or readdress the issue, barring rare circumstances warranting the error. The experienced attorneys at BB Law Group PLLC can ensure no gaps in your divorce decree. Given that there is also a statutory limitation on when such an appeal and modification may be brought to the court’s attention, it is important to have an attorney on your side to ensure the order is as accurate, carefully worded, and complete as possible. The burden is high on you to prove that you and your spouse legitimately forgot or had good reason to forego addressing property in a divorce decree. The only remedy for the oversight is to draft a new, modified order. Save yourself a headache and hire BB Law Group PLLC to represent you and ensure that the final orders you receive are accurate and are, without question or hassle, truly final.
Contact The Woodlands High Net Worth Attorneys
The complexities involved in high-net-worth divorce agreements can feel somewhat overwhelming, especially when the assets that must be divided are highly valued. To discuss the particulars of your circumstances with one of The Woodland’s high-net value attorneys at the BB Law Group PLLC, please call our offices at (832) 534-2589 today.