Fort Worth High Asset Divorce Lawyer

Fort Worth High Asset Divorce Attorney Serving Tarrant County

Nearly all divorce cases involve complicated issues that will need to be addressed. When a couple is married, multiple aspects of their lives become closely linked, and during the divorce process, separating their shared finances, dividing their property, addressing matters related to child custody, and handling other legal issues can be a complex undertaking. However, couples who have a high net worth will often need to address some unique and especially complicated concerns. In these situations, it is crucial for a person to make sure they are represented by an attorney who has experience addressing divorce-related financial concerns and other important issues that may affect their case.

The law firm of Hatton & Hatton, PLLC represents clients from all walks of life in matters related to divorce and family law. We understand the legal and financial factors that can affect divorce cases involving spouses with high incomes or significant assets. We also know how the divorce process can impact a person emotionally and personally, and we work to ensure that our clients can get through these difficult situations successfully. When you work with us, we will fight to protect your financial interests while also addressing your personal concerns, ensuring that you will be positioned for success as you move forward into the next chapter of your life.

Financial Issues in a High Asset Divorce

High asset or high net worth divorce cases may involve situations where either or both spouses earn above-average incomes, as well as those where spouses own valuable assets that they acquired either before or after they were married. Spouses in these cases will want to make sure they will receive a fair share of their marital property and that they will have the financial resources they need to maintain their lifestyle after their marriage has ended. Some unique issues that may need to be addressed in a high net worth divorce include:

• Division of valuable assets - Texas is a community property state, and this means all assets acquired during a couple's marriage are considered to be equally owned by both spouses. In high asset divorce cases, determining how to divide community property can be a complex matter, especially when a couple owns multiple types of valuable property, such as investments, real estate, and high-end items such as jewelry or artwork. In many cases, appraisals may need to be performed to gain an understanding of the value of different assets, and a couple may need assistance from accountants or other experts to determine how their community property should be divided fairly.
• Business valuation - When spouses own a family business or have an ownership stake in other business investments, it may be important for a person to maintain ownership and control over these ventures. By determining an accurate value of the business, spouses can fully understand the current value of these assets as well as how they may increase in value in the near future. They can then determine whether one spouse may be able to be the sole owner of the business, whether both spouses will continue to have an ownership stake, or whether a business may be sold.
• Retirement benefits and executive compensation - While spouses at all income levels may have retirement accounts or other benefits that will need to be addressed during the divorce process, executives and others who earn a high income may be eligible for multiple types of complex benefits. A couple may need to determine the value of stock options, bonuses, deferred compensation plans, and other assets to ensure that their community property can be divided correctly.
• Spousal support - If there is a significant disparity between the spouses' incomes, one spouse may be asked to provide financial support to the other. While Texas courts usually will not award this type of support unless a couple has been married for a significant amount of time and there is a demonstrated need, a couple may agree as part of their divorce settlement that spousal support will be paid, and they may decide on the amount of ongoing payments and the length of time that support will last.
• Prenuptial agreements - If one spouse came into their marriage with significant assets, they may have asked the other spouse to agree to a prenup before the couple was married. These agreements are often used to protect family wealth or to ensure that a business owner will be able to maintain control of the assets they owned before getting married. If a couple had a prenuptial agreement in place, the terms of this agreement will usually need to be followed during the divorce process. However, a spouse may need legal assistance to determine what assets will be covered by the prenup and what steps they can take to protect their financial interests.

Contact Our Tarrant County High Net Worth Divorce Lawyers

If you and/or your spouse own valuable assets, or if either of you earns an income that is higher than average, you will need to make sure you address financial matters correctly during your divorce. Our attorneys can provide you with assistance as you address these issues, and we will advocate for your interests and help you achieve an outcome that will provide for your ongoing needs. Contact our firm at 817-349-8120 to set up your free consultation.