Divorce is a trying experience for anyone, but it can be especially contentious
when one or both spouses have a high net worth or a complex property portfolio.
Complex and high asset divorces often involve claims of hidden assets and marital
torts such as fraud on the community. Many high net worth individuals are also
concerned about being burdened with oppressive alimony or spousal support payments
even after the divorce is finalized.
Persons going through a high net worth divorce need experienced attorneys
to help them develop a comprehensive divorce plan to successfully navigate through
the process and protect their closely-held business, oil and gas interests,
and other complex property issues. The marital property division attorneys at
Pat White are ready to assist you and begin developing a strategy, along with
professional advice from other professionals, to help you work through the specific
issues that you are concerned about.
Our Fort Worth divorce attorneys have extensive experience in representing
clients throughout Tarrant County, to include, Fort Worth, Benbrook, Lake Worth,
Eagle Mountain, Saginaw, Azle, and surrounding areas.
There are three types of marital property - separate property of the wife,
community property, and separate property of the husband. All marital assets
can be characterized as one of these types, or a combination of them. In Texas,
the court will presume that all property the spouses own is community property.
It is up to the spouse claiming property as his or her separate property to
overcome the presumption by proving very clearly to the court the separate property
character. The benefit of an asset being characterized as your separate property
is that the judge cannot award it to your spouse.
Characterizing all of your marital property as either separate property or
community property is vital to fairly dividing your assets during a divorce.
Consulting an experienced and knowledgeable attorney is the only way to ensure
your assets are properly characterized before they are divided or confirmed
by the court as separate property.
If you own a closely-held business or have family business interests, a primary
concern in the divorce process will be valuing the business and determining its
marital property character. We work closely with our high net worth clients, in
conjunction with valuation and financial experts, to obtain a clear picture of the
nature of your business interests and their current value. After your business interests
have been appraised and a settlement agreement or final divorce decree is drafted
dividing the property, it will be important that the actual division of the business
is handled with expertise.
In a business owner's divorce, it is important the attorney possess the ability to properly document the division of the business assets, ownership rights, and ownership duties when the divorce is finalized. This documentation must be included in the mediated settlement agreement, final divorce decree, and in the internal resolutions, minutes, ownership certificates, shares, and relevant agreements of the business entity. If not properly documented, the division of the business will not be completed and conflict between ex-spouses or with the other persons involved in the business is likely to occur in the future.
In addition to providing top-notch legal advice to high net worth individuals
involved in divorce, we also work closely with experts in other fields to ensure
all of their complex property issues are addressed. High income divorce cases, may
require the assistance of a highly skilled financial team to properly asses the
monetary value of all the property involved. Some of the highly qualified experts
we will recommend to work on your case may include:
The attorneys at Pat White are knowledgeable and experienced in representing business owners in divorce, purchase and sale of businesses, as well as other civil litigation proceedings. This experience outside the divorce process provides us with unique skills to facilitate the property division in your high asset divorce involving a closely-held or family business.
