A high net-worth divorce can be extremely complex and end up with frustrations for both spouses, if it is not carefully planned and executed. This is why you don’t need just any attorney, but a divorce lawyer in The Woodlands who knows exactly what the process involves.
Here are some of the most important considerations for both spouses during this challenging time:
1. Asset Valuation
High net-worth couples often accumulate a multitude of assets, varying from artwork to vacation homes abroad. There are also investment portfolios, cryptocurrency holdings and other valuables to consider.
To ensure that each spouse gets a fair share of the marital assets, it is essential to perform an accurate valuation of all assets. A skilled attorney will find an independent valuator of impeccable reputation, who can be trusted to present a clear and detailed report including the value of all these assets.
2. Dividing a Business or Professional Practice
Entrepreneurs and professionals are among high net-worth individuals. They owe their success to their hard work, talent and dedication. But even though they started their business before getting married, it may still be considered a marital asset.
Courts argue that the household services, emotional support and guidance of the spouse have contributed to the success of the business. They may be entitled to a share of the business assets.
In this difficult situation, a seasoned attorney can identify an asset of similar value to offer the spouse in exchange for relinquishing any claims on the business.
3. Spousal Support
What if only one of the spouses is the high earner, while the other decided to stay at home to look after the children? Or their job does not pay sufficiently to maintain the same standard of living after divorce – within reasonable limits?
In this case, consulting with an experienced divorce lawyer in The Woodlands is essential for determining the fair amount of spousal support. You will need solid grounds to present to the court, because it is not automatically granted in all cases.
divorce lawyer in The Woodlands to advocate for your rights.
We will ensure that all the marital assets are correctly disclosed and that you achieve most of the goals you established to help you transition to your post-divorce life.
We encourage you to reach out to us and schedule an initial consultation as soon as possible after deciding to file for divorce: (936) 297-4668!
The post High Net-Worth Divorce in The Woodlands: Key Considerations appeared first on Woodlands TX Family & Divorce Lawyer.
