Temple High Asset Divorce Lawyer

Navigating Complex Divorces With Substantial Assets

Divorce can be a challenging and complex process for any couple, but particularly so for the wealthy if there is no pre or postnuptial agreement. Perhaps they accumulated significant assets after getting married, or maybe against the wishes of family or business partners, the couple chose not to do a prenup. Now the marriage is dissolving and it will take serious work to sort it out.

The experienced family law attorney at Young Law Firm can be a tremendous help to couples filing for divorce in Temple and the surrounding areas. Barbara Young can help you avoid costly mistakes when there are complex property division, significant assets, business valuation, stock holdings and retirement accounts to consider. Once all assets have been determined and valued, we formulate an effective plan that works toward a positive resolution.

Common Divorce Issues

Any divorce can include resolution of the following issues:

• Custody Options: There are different options that include joint custody, legal custody and sole custody.
• Marital Property Division: Generally speaking, marital property is any assets accumulated during the marriage, unless it is inheritance or gift. Texas is a community property state so the courts do not divide assets 25-25, but follow an approach that is appropriately right or just.

Unique Challenges in High Asset Divorces

The above issues are extremely important, but there are additional concerns when couples with extensive assets get divorced. Our knowledgeable lawyer has experience resolving issues in the following areas:

• Child Support Considerations: Families accustomed to a certain lifestyle may want to include private schools, expensive hobbies and activities, or travel.
• Estate Valuation Expertise: We are equipped with the in-depth financial knowledge to value domestic and foreign assets.
• Uncovering Hidden Assets: Unfortunately, some spouses try to gain an advantage by hiding assets in offshore banks or foreign accounts. We can find them.
• Future Financial Planning: Stock options and retirement benefits will pay out at a future date, but should be considered during negotiations.
• Alimony and Spousal Maintenance: Typically, couples must be married 10 years. There are different types of alimony, but in cases of high-asset divorce, the support needs may be much higher.
• Privacy Through Sealing Court Records: Once couples go to court, sensitive personal information such as income or grounds for divorce are a matter of public record. Both parties must agree to move forward with sealing the court records.

We generally try to negotiate or mediate high-asset divorces, believing that most families are best served when a resolution is achieved in a collaborative manner. It should be noted that since court proceedings are open to the public, out of court settlements also provide the benefit of keeping the entire matter private. However, this approach is not always realistic for protecting your individual and parental rights, so we always prepare as if we are going to court.

Set up your appointment today. Call our Temple office at (254) 327-1884, or you can email us.