New Braunfels High-Asset Divorce Attorney

Lawyer for High Net Worth Divorce Cases in New Braunfels, Texas

In every divorce, a couple will need to take steps to separate the life that they have built together. This process can be complicated, and it can lead to disputes over property division or other issues. However, in cases where a couple has significant wealth, the divorce process may be even more complex. Spouses who own considerable assets may need to sort through investment portfolios, trust interests, multiple properties, and years of financial records. The decisions made during a high-asset divorce can shape a person's financial security for decades.

At Hill Family Law, our attorney has the skills needed to provide clients with guidance during demanding high net worth divorce cases. He has handled many divorces involving complex marital estates. With a strong understanding of the community property laws in Texas, the financial disclosure rules that apply to divorcing spouses, the ideal tax planning options, and other concerns that may affect clients, he can take steps to ensure that a high-asset divorce can be completed successfully.

Why High-Asset Divorces Can Be Financially Complex

When a couple has a high net worth, they are likely to own multiple types of assets. A couple might hold publicly traded stock, private equity investments, cryptocurrency, life insurance with cash value, and interests in family businesses or other closely held companies. Some of these assets may be fairly easy to value, but others may require an analysis from financial professionals.

Questions about the ownership of different types of assets can add another layer of complexity. Over a long marriage, inheritances, gifts, and premarital savings may become intertwined with income earned during the marriage and other assets acquired by a couple. Determining which assets belong to the community estate and which may be considered separate may require a review of years of financial statements and the help of a forensic accountant.

Taxes can also play a major role in a high-asset divorce. Two assets that may have a similar value can carry very different tax burdens once they are sold or transferred. A divorce settlement that seems fair on paper can leave one spouse worse off after taxes come due.

The Role of Premarital and Marital Agreements

Many wealthy couples have signed prenuptial agreements before getting married. Others may have put postnuptial agreements in place during their marriage. These contracts can decide in advance how property will be divided. A review of any existing agreements can be crucial to determine whether they are enforceable and how they will affect financial issues during divorce. Our lawyer can help a client enforce a prenup or postnup or take steps to challenge an agreement that was not signed voluntarily, is unconscionable, or did not involve a complete financial disclosure.

Addressing Retirement Savings

Retirement assets addressed in a high-asset divorce may include 401(k) plans, supplemental executive retirement plans, and IRAs. A spouse may be eligible for pension benefits, and a couple may need to determine whether these benefits will be divided. A qualified domestic relations order (QRDO) may need to be used to divide certain accounts or benefits, or other methods may be used to ensure that taxes and penalties will not apply to funds that are transferred.

Addressing Business Interests

For business owners, the divorce process will often involve negotiations to ensure that they can maintain ownership of their businesses and continue benefiting from enterprises they have built. Our lawyer can work with valuation professionals to determine what a business is worth, and he can provide guidance on the options that may be available for dividing business assets while protecting a client's financial interests.

Addressing Real Estate Holdings

High-asset estates frequently include several types of real estate property, such as a family's primary home, a ranch, rental properties, or land in other states. Each property will need to be appraised, and the mortgage balance, income, and tax basis will need to be weighed when determining how different properties may be divided or sold.

Spousal Maintenance in High Asset Cases

In divorce cases where there is a disparity between the incomes earned by the spouses, alimony or spousal maintenance may be appropriate. A court may not order maintenance unless a couple has been married for at least 10 years and one spouse is unable to earn enough income to provide for their own needs. However, a couple may reach an agreement on how issues related to alimony will be addressed. Their divorce settlement may include terms detailing how much alimony will be paid and how long it will last. This may be an option in a case where one spouse has relied on the other to address their family's financial needs throughout their marriage.

Protecting Privacy in a High-Asset Divorce

Information about a divorce filing and the issues involved in a case may be accessible as part of public court records. This may be a concern for people with substantial wealth or who own businesses. A couple may take steps to keep the divorce process as private as possible by agreeing to use mediation or to negotiate a settlement out of court with the help of their attorneys. Our lawyer can provide guidance on the best ways to resolve financial matters privately while protecting a client's interests.

Contact Our New Braunfels, TX High-Asset Divorce Lawyer

During a high-asset divorce, careful attention must be paid to the assets a couple owns and other financial concerns. At Hill Family Law, our lawyer can work with clients to ensure that all of these issues will be handled correctly. His goal is to negotiate a settlement that will provide a client with the financial resources they need to succeed in the future. Contact our New Braunfels, Texas high net worth divorce attorney at 830-229-2129 to set up a free consultation.