Don’t mess with a Texas homemakers’ assets during divorce

After years of devoting your life to your spouse, perhaps raising a family and running the family home, the prospect of divorce may be quite alarming. If you are suddenly facing beginning a new life as a single person in Texas, you likely have many questions. Some of those questions may pertain to w...

What if I think my spouse is hiding assets?

Divorce is different for everyone. Some people seem to be very transparent when it comes to their finances, but when a closer look is taken you may find that money issues don't exactly add up. In many cases, the wealthier a couple was during their marriage, the greater the chance is that your spouse...

Couple who wed in Pakistan now in Texas family courts

A divorce playing out in the Texas courts could set a precedent on how family law cases involving international courts are handled moving forward. In this case, the couple was married in Pakistan, and the Islamic tradition of getting a divorce by saying "I divorce you" three times is at the heart of...

What are the most common mistakes in a high asset divorce?

Divorce is never easy on either party. Even if you want to "get out" as soon as possible, there are many steps you must take to ensure that you are making the right decisions. When there are many assets involved in a divorce, a variety of additional challenges will come to the forefront. Here are s...

What are the residency requirements for divorce in Texas?

Getting a divorce in Texas takes time. Sometimes, if the divorce is high asset it can takes months or years. There is a section of law called the Texas Family Code that clearly sets out what you need to do, no matter how much property you have, to get a divorce. Section 6.301 spells out what the res...

Business valuation and high net worth divorce

Nobody wants to go through divorce, but if this happens, you need to be prepared for everything that comes your way. Every divorce has its own set of unique challenges. This is even more so the case if one partner owns a successful business. A high net worth divorce can drag on for many months -- o...

How do I prepare for a financial separation during divorce?

The end of a marriage creates a drastic change for Dallas-Fort Worth spouses. Many people focus on the emotional aspects of a marital break-up, which can be very tough to handle. However, a high-asset divorce involves a lot more than two people choosing to take separate paths. Divorce is about the ...

How are retirement plans divided in a Texas divorce?

Property division tends to be one of the most complex aspects of divorce, particularly for spouses with a high net worth. In many marriages, "hard assets" such as the family home are the most valuable assets, but for other couples, retirement accounts are the most valuable kind of community property...

Is all of your business community property?

In Texas, business assets can be categorized as community property, which is divisible between divorcing spouses. To arrive at a fair distribution of these assets, you will typically need legal counsel with the resources to accurately valuate the business. Those resources may include access to CPAs ...

Why should I have a forensic accountant on my divorce team?

An attorney may be one of several key professionals retained by affluent Dallas-Fort Worth spouses during a marital break-up. Property division during a high-asset divorce involves careful handling. The hard part for some spouses is identifying and determining the extent of marital property that, u...