Category: Divorce

High Asset Divorce in Texas

High Asset Divorce: What You Need to Know

High-Asset Divorce in Texas: Unique Complications

While most Texas divorces are complicated and questions related to finances top tend to top the list of complications, divorces that involve significant assets take things to the next level. Other than issues related to child custody, finances are the single most emotionally fraught – and often contentious – component of any divorce. When you get into the territory of high assets, finances naturally become more complicated. The world of high finance often involves businesses and multiple real estate holdings, which are typically far less transparent when it comes to assigning value for the dissolution of a marriage. If you are facing a high-asset divorce, you need a skilled divorce attorney with experience handling these complex cases.

The Complications that Come with High Finances

As marital estates become larger, they also naturally tend to become more opaque and more difficult to track. The intricacies of business structures and taxation dictate that the more wealth you amass, the more complicated your finances become. This makes obtaining an accurate reading on your marital assets that much more laborious. If you and your divorcing spouse have considerable assets, it is very likely that you will need the highly specialized services of forensic accounting to calculate a reliably accurate valuation for your holdings.

The Division of Property in a Texas Divorce

Texas is a community property state, which generally means that the judge will assess the circumstances of your divorce and will divide your property – both assets and debts – in a way that he or she deems “just and right.” Just and right can obviously mean very different things to different people, and you and your soon-to-be-ex are very unlikely to see eye-to-eye on this matter. There are two factors that often play a determinative role in situations in which assets are divided lopsidedly:

• The spouse with the most responsibility for raising the children may be awarded a larger percentage of the marital property.
• A spouse with significantly less earning potential may be compensated with a larger percentage of the marital assets.

The fact that the State of Texas is not looking to divide your marital wealth evenly down the middle makes it that much more important to enlist a knowledgeable Houston divorce lawyer to protect your finances throughout the divorce process.

Your Finances

In marriages with high assets, as with many marriages, it is not uncommon for one spouse to play a far more integral role in the family’s finances. This can make determining the value of your estate even more nuanced. If you are not the party with a more active role in your family’s finances, it can put you at a disadvantage, and for this very reason, it is important to bring in an experienced divorce lawyer as quickly as possible.

The fact is that the person who is more intimately involved in your marital finances has some decided advantages when it comes to presenting your assets in a particular light. In other words, he or she likely has the insight and finesse to paint a less-than-accurate financial picture. Your financial future very likely depends upon your divorce settlement, and it is far too important not to protect your rights and to aggressively advocate for the financial settlement to which you are entitled.

Underhanded Tactics

The stress and anxiety associated with divorce are difficult to overstate, and divorcing spouses are often not at their very best when under this kind of pressure. In fact, some divorcing spouses are not above hiding assets, devaluing assets, quietly moving or selling assets – and worse – in an attempt to skew the finances in their own favor in the divorce. If your spouse is more closely involved in your family’s finances than you are, he or she is more likely to have the financial upper-hand, and it is critical that you bring in a dedicated divorce lawyer to not only help determine what your marital assets are but also to help protect your “just and right” share of those assets throughout the divorce process.

If you have reason to believe or suspect that your spouse is engaging in underhanded financial tactics, do not hesitate to share this information with your attorney. The sooner your dedicated legal advisor engages the specialized services of an investigative forensic accountant, the more secure your finances will be.

Matters of Privacy

If you are going through a high-asset divorce, the dissolution of your marriage may be the subject of a good deal of attention. After all, the world of high finance is interesting exactly because the reverberations often affect far more people than just the divorcing couple. In other words, high-asset divorces are often high-profile divorces. As such, your divorce and your financials may well be subject to more public scrutiny than you would like. A dedicated Houston divorce lawyer will endeavor to protect your privacy and to help ensure that your private financial records remain sealed and private.

Your High-Asset Divorce

Every divorce is difficult, fraught with emotion, and utterly unique. When a divorce involves the division of a sizable estate, it makes the entire process that much more delicate. Whether you are simply considering divorce or your divorce is an inevitability, it is never too soon to begin gathering your financial information and documents in the creation of as thorough a financial snapshot as possible. Synthesize the financial information that you have access to and carefully examine it with your legal counsel. A high-asset divorce has an additional layer of complexity that necessitates exacting scrutiny.

If Your Divorce Involves High Assets; Consult with a Dedicated Houston Divorce Attorney Today

The fact is that divorce is hard, and a high-asset divorce is that much harder. If you’re facing a high-asset divorce, it is critical that you obtain an experienced divorce lawyer with whom you feel comfortable working. At the Rudisel Law Firm, P.C. our experienced legal team understands the intricacies of high finance, and we’re dedicated to fighting for your financial rights. We’re here to help, so please fill out an online evaluation using the “Contact Us” link in the menu or call us at 713-781-7775 today.

Reads have found the following articles helpful:

 

Houston Divorce Process

Texas Divorce: The Basics

What You Need to Know Before You Begin the Texas Divorce Process

The divorce process is never easy, but there are steps that you can take to better prepare yourself for the difficult path ahead and to help mitigate the hardships involved. While no two divorces are exactly alike, they all share certain elements that are important to consider. Take the time to get to know the basics, and you’ll be better prepared to take on your divorce.

Determine Whether Your Marriage Is Truly Over or Not

If you’re considering divorce in Texas, your emotions are inevitably running high. In fact, it can be difficult to make important decisions in this state. If your spouse is insisting upon a divorce, there may not be much you can do about it. If that isn’t the case, take the time to make sure that a divorce is really the answer you seek before rushing forward with the legal process. There are a variety of options when it comes to couple’s counseling – ask a trusted friend or family member for a counselor recommendation, research the services available at your place of worship, or speak with a reputable family law firm about resources in Houston. Even if your spouse isn’t interested in moving forward with counseling or therapy, it can help you personally get a better handle on whether divorce is right for you.

Seek Experienced Legal Counsel 

Even if you don’t end up ultimately pursuing a divorce, it’s in your best interest to consult with an experienced family law attorney early on. A knowledgeable divorce lawyer will discuss what you’re likely to encounter throughout the divorce process with you, including what your settlement might look like. Divorce is scary, but knowing that you have a knowledgeable professional to guide you can help.

Don’t Make Important Decisions Before Discussing them with Your Attorney

If your marriage is beginning to feel unmanageable – or even impossible – you may be tempted to move out of your marital home and to deal with the details of your divorce down the road. Decisions like this one, however, can have dramatic reverberations throughout your divorce – and beyond. Talk to an experienced divorce attorney before you make important decisions that could have consequences you haven’t even considered.

If You’ve Been Unfaithful in Your Marriage, Share the Information with Your Lawyer

If you’ve had an extramarital affair, you may be tempted to unburden yourself of the guilt by telling your spouse or a trusted friend about it. While this is an understandable impulse, you’ll be doing yourself a favor if, instead, you share the information with your experienced divorce attorney – and only with your experienced divorce attorney. Although Texas is a no-fault divorce state – which means you can obtain a divorce for any reason and need not prove your spouse was engaged in wrongdoing – having an affair can still affect your divorce settlement.

Find more information on adultery in the article below:

Consider Your Finances before You Pursue a Divorce

If you’re considering a divorce, carefully consider your finances before you begin the process. Divorce does strange thing to people – even the person you think you know best in the world (your spouse) may surprise you during the divorce process. This can include playing dirty financial tricks. Your family law attorney will help you assess your financials and how best to proceed. While every couple’s financial circumstances are unique, there are things that you can do prior to beginning the divorce process to help safeguard your finances throughout. Having a sound financial plan can help you avoid some common divorce pitfalls.

Consider All of Your Valuables

Ultimately, you’re going to need a financial snapshot of your marital assets and debts. But there’s more to consider than just the financial component. You also own things that are of purely sentimental value, such as photo albums, family portraits, and family heirlooms and keepsakes. Now’s a good time to think about safeguarding those items that can never be replaced.

Your Marital Assets and Debts

After issues relating to child custody, child support and dividing your marital assets and debts is likely to be the most critical element of your divorce. The more you know about your family’s financials, the better off you’ll be. Gather all the financial information and documents that you can early on and organize them into something you can share with your divorce attorney. With a clear picture of your marital finances, your skilled divorce attorney will be able to help guide you in the direction that best protects your financial future.

Your Divorce Goals

If you’re at the point that moving forward with a divorce is an inevitability, it’s important to remember that Texas is a community property state. This means that your marital assets won’t necessarily be divided straight down the middle but that, instead, the court will determine what it considers “just and right” within your circumstances. The court’s version of just and right will likely not coincide with your own.

Further, when it comes to the details of your child custody arrangement, you have a vested interest in carefully crafting the custody schedule that you believe is best for your children. While the court always prioritizes children’s best interests, you obviously know better when it comes to your own children.

The more that you and your spouse can agree upon, the less the court will decide on your behalf. If you and your soon-to-be ex can’t hammer out the details together (with the help of your respective attorneys), a mediator may be able to help you find common ground.  The mediation process is a great way to save on legal expenses.

If You’re Considering Divorce, You Need a Dedicated Houston Family Law Attorney

While it’s impossible to predict at the outset exactly how your divorce will proceed, there are some basic steps that you can take to protect yourself along the way. The dedicated divorce attorneys at the Rudisel Law Firm, P.C., have the experience, knowledge, and compassion to help guide your divorce toward its best possible resolution. We’re here to help, so please fill out an online evaluation using the “Contact Us” link in the menu or call us at 713-781-7775 today.

Readers have found the following articles helpful:

Coping with your spouse in a houston divorce

Coping with your Ex: Texas Divorce

Divorce 101: Coping with Your Ex During a Divorce

When you’re going through a Texas divorce, even making it through the day might feel like a small victory. Once you’re on the other side of that divorce, you’re ready to take your first tentative steps on your own. The fact remains, however, that if you have children or a shared social circle, you now have an ex-spouse whom you’ll very likely have to deal with on at least a semi-regular basis. Unfortunately, exes don’t come with instruction manuals, so it’s a good idea to have a game plane for how best to proceed. In general, tread lightly, but be prepared to protect your best interests when necessary.

Keep Face-to-Face Communications to a Minimum

Every divorce is unique, and while some couples divorce amicably and carry on with a lively friendship post-divorce, this is the rare exception rather than the rule. If your divorce is less of a fairy tale and more like real-life, proceed with caution. If you share children, you’re going to need to confab with your ex, so set some personal ground rules.

As time goes by, you and your ex will likely find that communicating with each other will become more and more comfortable, but until you find this happy place, your interactions are likely to be fraught with emotion. In the early days, which sometimes seem to go on indefinitely, it’s usually a good idea to limit your communications to those that are strictly necessary and to conduct them through the least personal channels possible. If an email or text will suffice, stick to that. When it’s more time sensitive or complicated, make the call. Limiting face-to-face interactions to picking up and dropping off the kids can save you a lot of heartache in the long run.

When It Comes to Your Kids, Proceed with Caution

In general, it’s best not to include your children in your chain of communication with your ex. First of all, you don’t want your children to feel like they’re being used as a protective barrier between the two of you – or to feel like they should harbor allegiances (one way or the other).

Sometimes, however, it’s useful – and it makes sense – for your children to negotiate with your ex on their own behalves. There’s a lot of gray area on this one. Families are messy, and children are resilient. There are no hard and fast rules here. But if you have something you need to discuss with your ex, don’t finagle it through your children; go directly to the source.

Post-Divorce Emotional Support

If there’s ever a time that you’re going to need emotional support, it’s after a divorce. Look to your family members and trusted friends whom you know you can count on. That’s what friends and family are for; there are also divorce support groups that can be especially beneficial. Remember, too, that your Houston divorce attorney is there to answer your logistical questions and doesn’t expect you to become a divorce expert overnight.

What you don’t want to do is look to your ex for the emotional support you need. While it’s natural to feel the tug of the familiar – after all you were a team throughout your marriage – it’s rarely a good idea to succumb to that inclination. Foster a community in which you and the other members support each other, and you’ll find yourself back on the road to emotional strength and stability.

Get the Support You Need so You Can Be There for Your Kids

It’s vital that you get the support you need so you can be there for your children. As difficult as divorce is on you, it’s even more harrowing – and confusing – for your kids. If you aren’t taking care of your own emotional needs, you’ll be less capable of supporting your kids during these trying times. And cut yourself some slack, no one is looking for perfection here – do the best you can for both yourself and your kids.

Finally, it goes without saying that you should never turn to your children for emotional support. When times get tough, call a friend or family member.

Court-Awarded Financial Support

If the court has awarded you child support or spousal maintenance, that is money that is due you – it is not a gift and it in no way leaves you obligated to your ex (the payor). If your ex intimates that the payments he or she makes to you according to your divorce settlement give him or her leverage, your ex is mistaken. Don’t be bullied or intimidated into abdicating your rights and responsibilities as spelled out in your divorce settlement. If your court-ordered payments aren’t forthcoming, it’s time to contact your Houston family law attorney. Don’t wait for things to fix themselves; they rarely do. Be proactive, and allow your experienced divorce attorney to outline your options.

Maintaining Friendships with Your Ex’s Family Members

You’ve no doubt heard the saying that blood is thicker than water, and divorce is a prime example. No matter how close you and your ex’s family are, it’s usually a good idea to give them some breathing space after the divorce. If nothing else, they don’t want to give the appearance of not fully supporting their own son/daughter/brother/sister. Give them the time and space they need to heal, and you very well may find your way back to a satisfying and rewarding relationship with your ex’s family – especially when children are involved.

You may find the following divorce articles helpful:

Divorce Isn’t a Walk in the Park; You Need a Dedicated Houston Divorce Attorney

If you will have to interact with your ex in the future, you should be sure to protect your rights during your divorce. A divorce settlement or decree that is equitable goes a long way in minimizing future conflict. The dedicated legal team at the Rudisel Law Firm, P.C., in Houston, focuses exclusively on divorce and family law, and we’re here for you every step of the way. For a free initial consultation, please contact or call us at 713-781-7775 today.