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TX divorce lawyerThere is a lot at stake for any couple going through a divorce. This is especially true for those who own significant or diverse assets, so if you want to ensure that your own divorce goes as smoothly as possible, you should strongly consider contacting a Leander high asset divorce attorney who can ensure that your filings and disclosures are all made properly and on time.

Hiding Assets

One of the worst mistakes that a person can make when going through a high asset divorce is to try and hide assets from one’s spouse. Not only could this type of conduct lead to an unfair property settlement, but if a court discovers that one of the parties was dishonest when disclosing their financial holdings and debts, it could hold that individual in contempt or require that he or she turn over a larger portion of assets to the other party.

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Cedar-Park high-asset divorce attorney, complex property decisions, current market value, property value, property appraisalsCouples going through high-asset divorces are often faced with complex property decisions, and this is especially true for Texans in high-asset divorces. Texas is a community-property state; hence, any property purchased during a marriage is part of the marital estate and is subject to being divided. Therefore, it is important to consider how a divorcing couple's real estate may be divided.

In order to determine that division, the worth of the property must be determined. Typically this is done by a real estate appraiser who bases his or her findings on the current market value. Financial advisors point out that it is important for couples in the process of a high-asset divorce to understand how real estate appraisals work.

Appraisers determine the current market value of a property by analyzing sales of other similar properties in the geographical area in which the property is located. If your property has features which may be considered unique, an appraiser will determine if that feature adds or subtracts value to the property.

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The Law Offices of William D. Powers

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