Although any divorce case in Texas family courts has the potential to get complicated in a hurry, high-asset divorce cases can get bogged down in the issue of property and debt division for weeks, or even months. This is the one issue in a high-asset divorce that both of the soon-to-be ex-spouses usually pour quite a bit of energy into because, in many cases, the resolution can have a lasting impact on financial security for years to come after the divorce is finalized.
High-asset divorce issues
For starters, one of the first problems to resolve in the property division aspect of a high-asset divorce is what assets, exactly, are part of the “marital” property. The couple could get embroiled in arguments that some of their own property is separate – it was either owned individually prior to the marriage or acquired during the marriage and kept separate, such as an inheritance. However, anything that was intertwined or jointly owned during the marriage will likely be considered “marital” property under community property laws.
Valuing certain assets can also become contentious in a high-asset divorce. Business interests, real estate or even artwork might need to be evaluated by independent appraisers before dividing those assets can even be discussed.
Why professional guidance may be of help
In the end, each divorce case in Texas is unique, but in each case, the ultimate goal is to resolve all of the legal issues involved and help the couple move on with their newly separate lives. At our law firm, we understand the complicated issues that can come up in high-asset divorce cases. We do our best to help our clients get to a fair resolution. For more information, please visit the high-asset divorce overview section of our website.