Blog
512-610-6199
8911 N. Capital of Texas Highway
Building 2, Suite 2105, Austin, TX 78759
Subscribe to this list via RSS Blog posts tagged in complex asset division

TX divorce lawyerAll Texas divorces must be conducted in compliance with state law. However, this doesn’t mean that all divorces are the same. High asset divorces, in particular, come with unique issues. For this reason, it is especially important for those with significant, unique, or diverse assets who have decided to dissolve their marriages, to retain an experienced high asset divorce attorney who is well-versed in these issues and can ensure that their interests and rights are protected.

Financial Complication

One of the most difficult parts of the divorce process is deciding how assets will be divided. This is especially true for those with significant assets who don’t have a prenuptial agreement, as the process of identifying, appraising, and attempting to divide property is much more complex. In these cases, it is not uncommon for couples to have rare or unique property, such as real estate, antiques, artwork, and jewelry, that is both difficult to appraise and divide. It is also much easier in these situations for one spouse to try to hide specific assets, which is both unlawful and could result in an unfair property settlement agreement.

Emotional Implications

Even when a couple has an amicable relationship, going through a divorce is stressful. In many cases, these high emotions are only fueled in high asset divorces, as there is simply more to fight over. It’s also not uncommon for one spouse to have more knowledge of finances and property ownership, in which case, the other party could end up with an unfair settlement if the more financially knowledgeable spouse failed to disclose the ownership of certain property. This, in turn, can make the divorce process even more emotional for the wronged party.

...

The Law Offices of William D. Powers

8911 N. Capital of Texas Highway, Building 2, Suite 2105, Austin, TX 78759