Divorce is hard. Knowing how to divide complicated financial assets can be overwhelming. It is important to have the support and guidance that you need.
What is a “High End Divorce”?
A disputed or contested divorce with various high value assets which must be evaluated and divided is known as high end divorce.
What factors make this type of divorce more complicated?
- Various high value assets, and the need to accurately assess the value;
- Various methods available for evaluation or appraisal of assets;
- One or both parties brought separate property into the marriage;
- One or both parties owns a business;
- Inequality in actual earnings or in earning potential for the future.
What Types of Analysis Must be Done?
Even in a situation where the division seems simple at first, there are multiple considerations. For instance, complicated valuations may have to be performed even if an account is in just one party’s name. Texas community property laws have to be taken into account. If one or both spouses have brought separate property into the marriage but have commingled it with community property, then an analysis must be performed.
Additional Considerations based on Texas Family Law
In addition, the following facts will have a bearing on how the property ultimately is divided:
- Length of the marriage;
- If there are minor children of the marriage;
- Whether one spouse’s career or earning potential was affected by staying home to take care of the family;
- Current or future disparity in income (one spouse is unemployed/underemployed, difference in education/training, one spouse stays home to take care of the family);
- Whether one spouse has spent recklessly, or wasted assets.
Standing Court Orders and Legal “Discovery” During a Divorce Case
The moment a divorce case is filed, certain Court Orders go into effect. These orders relate to which funds may be spent, and how the assets are to be maintained. They also forbid certain types of behaviors during the divorce (such as threatening or harassing each other, as an example).
In addition, legal discovery rules specify what must be released and shared by each party, when, and by what means.
In high end divorce, there may be voluminous statements and records that must be organized, analyzed and shared with the other party. This can be quite daunting, but a well-prepared attorney and her paralegal can guide her client through the process from start to finish.
High End Divorce Attorney in The Woodlands
Our firm has the training and experience to handle the complicated issues and documentation in high end divorce cases. You can have confidence that your cases is receiving the careful attention that it deserves.
Attorney Sio Ramirez Pitre and Paralegal Myrna Ramirez have several years’ experience in high end divorce cases. We have a dedicated support staff to help you understand and get through the process.
