Houston High-Asset Divorce Lawyer

Understanding the Texas Property Division Process

When it comes to high-asset divorce, property division can be an overwhelming process. However, our team at Diggs & Sadler can guide you every step of the way.

We can help you with the following during your high-asset divorce:

• Understanding your property rights
• Protecting your business
• Protecting your assets
• Dividing your property
• Apportioning responsibility for debts

While you may think you know everything, there could be hidden assets that you are unaware of. This is why it is imperative you work with a team of Houston lawyers who are experienced in high-asset divorce to ensure you are protecting all of your assets.

In high-asset divorces, the division of property and assets can be more complex and contentious compared to divorces involving fewer assets. The primary goal is to reach a fair and equitable distribution of marital property between the spouses.

Texas Community Property Laws

Texas follows community property laws, which generally means that assets and debts acquired during the marriage are considered community property and should be divided equally between spouses. However, equitable division doesn't necessarily mean an equal 50-50 split. The court may consider various factors, including the earning capacity of each spouse, the length of the marriage, the contributions of each spouse to the acquisition of assets, and the separate property owned by each spouse.

Get started with our high-asset divorce attorneys in Houston today! Call (713) 766-5355.

How Much Is Your Marriage Worth?

When it comes to high-asset divorce, it is important to understand your assets and your net worth. While you may think you know everything, there could be hidden assets that you are unaware of. This is why it is imperative you work with a team of Houston lawyers who are experienced in high-asset divorce to ensure you are protecting all of your assets.

If you are facing a high-asset divorce, you may be worried about how you will be able to afford an attorney.

Call (713) 766-5355 to speak with a Houston high-asset divorce attorney!

Texas High-Asset Divorce Process

The process of high-asset divorce in Texas follows similar steps to a regular divorce but often involves more complex financial considerations.

Consultation with an attorney: The first step is to consult with an experienced family law attorney who specializes in high-asset divorces. They will review your situation, discuss your goals, and provide guidance on the best course of action.

Filing the divorce petition: To initiate the divorce, one spouse (the petitioner) files a divorce petition with the appropriate Texas family court. The petition outlines the grounds for divorce and the relief sought, such as property division, spousal support, child custody, and support.

Temporary orders: In high-asset divorces, temporary orders may be necessary to address immediate issues like child custody, temporary support, and asset preservation until the final divorce settlement. These orders provide guidelines and protections during the divorce process.

Discovery: Discovery is a crucial step in high-asset divorces, where both spouses exchange information about their financial assets, properties, debts, income, and expenses. It may involve requests for production of documents, interrogatories (written questions), depositions, and potentially the use of financial experts to evaluate complex assets.

Property division: Texas follows community property laws, which generally require an equal division of community property acquired during the marriage. However, in high-asset divorces, the court may consider factors such as the nature of the assets, the earning capacity of each spouse, and contributions to the acquisition of assets when determining a fair division. Negotiations, mediation, or collaborative divorce processes may be utilized to reach a settlement agreement.

Business valuation: If either spouse owns a business or has ownership interests in a company, a professional business valuation may be necessary to determine its worth. This valuation helps in determining how the business assets and income will be divided or if a buyout is necessary.

Spousal support (alimony): In high-asset divorces, spousal support may be a significant consideration. The court will evaluate factors such as the length of the marriage, the income and earning capacity of each spouse, and the standard of living during the marriage to determine if spousal support is appropriate and, if so, the amount and duration.

Child custody and support: If children are involved, custody and support arrangements will be determined based on the best interests of the child. The court may consider factors such as the child's needs, the parents' abilities to care for the child, and their respective financial capabilities.

Settlement or trial: Most high-asset divorces are resolved through negotiation and settlement agreements. If the spouses are unable to reach a mutually satisfactory resolution, the case may proceed to trial, where a judge will make final decisions on unresolved issues based on the evidence presented.

Finalizing the divorce: Once all issues are resolved, either through settlement or trial, a final divorce decree is prepared and submitted to the court. The decree outlines the terms of the divorce, including property division, spousal support, child custody, and support. Once the court approves and signs the decree, the divorce is finalized.

Get Help with Your High-Asset Divorce

If you're seeking the assistance of a knowledgeable Houston high-asset divorce lawyer, look no further. Diggs & Sadler is here to support you.

Our legal team recognizes the complexities involved in navigating high-asset divorces and is committed to providing you with reliable and empathetic legal representation, empowering you to approach your case with confidence.

Get in touch with us today to arrange a complimentary consultation with a skilled high-asset divorce lawyer in Houston.