Tag: high asset

How long does a divorce take in Texas

Divorce in Texas: Done in 60 Days?

How Long will your Texas Divorce Process take?  

If you are going through a divorce in Houston,Texas or any other city in this state, you very likely want to get through this difficult period in your life as quickly as you reasonably can. While every divorce is unique to its own set of circumstances and will follow its own timeline, there are some contributing factors that can help you estimate how long it will likely take to finalize your divorce. Divorce is complicated; if you are facing a divorce, seek the professional legal guidance of an experienced Houston divorce lawyer today.

Read our Houston Family Law Blog articles  “Frequently Asked Questions about Divorce in Texas” and “Texas Divorce: The Basics

Key Factors to Consider with Your Divorce

There are six key factors that can all play a significant role in how long it will most likely take you to process through your divorce in Texas.

1. The Mandatory Waiting Period for Divorce in Texas

There is a mandatory waiting period of 60 days after filing for divorce in Texas. Although judges can waive this requirement, they rarely do so – typically only extreme circumstances, such as an imminent deployment, warrant such a waiver.

2. Child Custody Arrangements

If children are involved, it’s likely to slow down the process. Both parents naturally want what’s best for their children, and child custody arrangements are typically the number one issue of concern for divorces involving children. Unfortunately, both parents don’t always agree on what’s best for their children post-divorce. If you and your spouse can’t agree on the matter, the court will do it for you, and this can become a lengthy process because it involves the court ascertaining what it determines to be in the children’s best interests. In Texas, your divorce cannot be finalized until child custody arrangements are addressed.

3. Uncontested Divorce

If you and your divorcing spouse agree about the major components of your divorce, including child custody arrangements, the division of marital property, and other financial issues, your “uncontested divorce” is far more likely to move forward quickly. It’s important to recognize, however, that divorce is fraught with emotion and stress, and a divorce that begins amicably enough can quickly head in a much more contentious direction. If you can hammer out the important details about your divorce with your spouse, you’ll be well on your way to streamlining the process.

See our article, “Uncontested Divorce: Doing it the Nice Way

4. Contested Divorce

While the division of marital property and child custody arrangements are typically the two most complicated divorce issues, there are myriad details involved, and if one or the other of you decides to drag his or her heels or to make waves about minor details, the divorce process could go on for an extended period of time. Contested divorces can be emotional, and it can make otherwise reasonable people do exceedingly unreasonable things. There is only so much that you can control in a divorce, and if your soon-to-be ex takes it upon him or herself to drag things out, there is probably very little you can do about it. Often, choosing your battles and letting go of minor skirmishes is the best path forward. Your experienced Houston divorce lawyer will help you better understand those decisions that matter and those that are less important.

5. Owning an Dividing a Business during Divorce

If you and your divorcing spouse own a business together, it complicates things and will almost certainly slow the divorce process. It’s exceedingly difficult to put an absolute value on a business because there are typically so many variables to consider. It can be more difficult still for both of you to come to an agreement on that value. Further, if one or the other of you is walking away from the business, it can lead to further emotional upheaval. Often, the best way forward is to agree with your spouse about whom to hire as a business valuator and to agree to proceed with the value that’s forthcoming.

Owning a business can provide an unscrupulous spouse with more opportunities to hide assets. The intricacies inherent to running a business provide ample avenues in which to obfuscate financially. If you are going through a divorce that involves a family business, you need a skilled Houston divorce attorney who has extensive experience with such cases.

Readers also read the related Houston Family Law Blog article, “Divorcee and Property Division in Texas: What Happens to the Family Business

6. High Asset Divorce in Texas

If you are embarking upon a divorce involving high assets, it’s going to slow the process down considerably, but protecting your rights is far more important than expediency in such a situation. The higher your assets, the more complicated your finances are likely to be, and the more work involved in the division of marital property. In Texas, your marital property won’t necessarily be divided evenly between you, but instead, the court – with its extensive discretion – will determine a division that is “just and right.” Obviously, the court’s determination of what is just and right may not coincide with your own. High assets in a marriage – which often involves owning a business – means that there is more wiggle room for an underhanded spouse to hide assets and to generally make it more difficult for your marital property to be divided fairly. If significant assets are involved, it’s imperative that you work closely with a dedicated Houston divorce attorney. This is no time to be in a rush.

You may also want to read, “Property and Debt Division in Texas, What you Should Know

If You Are Going through a Divorce, You Need an Experienced Houston Divorce Lawyer

Every divorce follows its own path to finalization, and sometimes it’s difficult to predict which divorce will proceed apace and which will falter. If you are facing a Texas divorce, you need professional legal counsel, and the dedicated divorce lawyers at the Rudisel Law Firm, P.C., in Houston, are here to help. Divorce is never easy, and you naturally want yours to be finalized as quickly as reasonably possible. It’s important to remember, however, that your final divorce decree will have significant implications for you and your children’s financial futures. Work closely with your experienced divorce lawyer to ensure that your rights are well protected. Our dedicated legal team has the skill, knowledge, and determination to aggressively advocate for your best interests throughout the divorce process. Your case matters, so please contact or call us at 713-781-7775 for more information today.

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.

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