If Your Divorce Involves Significant Assets
Parties with high net worth and complex estates must take special care when it comes to the issue of the division of assets. The valuation and divisions of such estates can be challenging, particularly when it comes to estates that involve offshore or foreign assets.
At The Parent Law Firm, in San Antonio, we are thoroughly experienced with high net worth and complex estates, including estates with assets located in foreign jurisdictions. This experience gives our clients a distinct and clear advantage when it comes to presenting the facts of the case to the judge or jury, or for purposes of mediation and/or settlement.
Valuing & Dividing High Net Worth Estates | Complex Asset Portfolios
Equipped with in-depth knowledge of business management, our attorneys understand how to locate and value businesses and other domestic and foreign assets, including but not limited to:
- Privately and publicly held companies
- Stock options and employee benefit plans
- Foreign employee benefit plans
- Pensions, retirement accounts, and severance packages
- Professional practices and partnerships
- Oil and mineral rights and royalties
- Domestic and foreign real estate
- Life insurance policies, proceeds, and annuities
- Money market and other financial accounts
- Patents and other intellectual property
Property division in Texas is based on the presumption that all property is community property unless it is proven to be separate property. Under Texas law, separate property is property acquired prior to marriage or during marriage by gift or devise (inheritance). The burden of proving the existence of separate property falls on the party making that claim.
The division of community property and the protection of separate property assets from claims by the community estate, or a spouse’s separate property estate, can become extremely complex when assets are commingled or hidden and are subject to tracing rules under Texas law. Financial restraining orders may also come into play.
Stock Options & Retirement Assets
To answer the question “What factors are considered in the division of high net worth?” we must not neglect assets that are payable or potentially payable in the future. Stock options and retirement assets accumulated during a marriage should be considered during settlement negotiations.
Whether you are the higher-earning spouse or a dependent or lower-earning spouse in a high net worth divorce, it is imperative that you retain the best divorce attorney you can find. Attorney Dave Parent and other attorneys at the firm are prepared to help you take a detailed inventory of all assets, including retirement accounts and assets more difficult to quantify, such as stock options. Know your rights and your full array of options available to you through intelligent settlement negotiations to protect your assets.
Stock options available through a high-earning spouse’s employment can be difficult to put a dollar figure on, but they are potentially high-dollar benefits. Timely advice from forensic accountants and industry leaders can help you protect your right to your proper share of these assets.
Retirement accounts may be divisible according to terms of a qualified domestic relations order (QDRO). Contact a knowledgeable high-asset divorce attorney at The Parent Law Firm, to learn how our lawyers can advocate for your interests as retirement accounts are divided. We represent both men and women, including:
- Doctors and other medical professionals
- Accountants and other financial professionals
- Business owners and their spouses
- Business executives and their spouses
Experienced, Recognized, Equipped To Handle Challenging Asset Division
Experience is paramount in this area of law, and at The Parent Law Firm, we have lawyers who are specialized, and with our team of lawyers we are able to devote the necessary resources to your case for the protection of your separate property assets to obtain the best result for you when it comes to the division of your marital estate.
Prenuptial agreements and marital agreements are not unusual when individuals with high net worth marry. The attorneys at The Parent Law Firm, have experience in drafting, enforcing and challenging such agreements. Well-drafted prenuptial and marital agreements are an excellent way to protect property and minimize conflict.
Child Support, Spousal Support, And Contractual Alimony
Spousal support, child support, and contractual alimony are all issues that are often complex in cases involving high net worth families. Maintaining children in private schools, if accustomed, providing adequate support during divorce and contractual alimony are all important issues that must be addressed in these cases.