Why You Need a Frisco High-Asset Divorce Lawyer
Divorce can become extremely complicated when there are many assets involved. You certainly don’t want to navigate the process yourself. A Frisco high-asset divorce lawyer is the best solution in these cases. They have the experience you can rely on to help steer your case in the right direction. The team at Albin Older Law is here to provide the legal counsel you need in these situations.
What is a High-Asset Divorce?
A high-asset divorce is generally a divorce where a couple owns assets that exceed one-million dollars or more. Both spouses may also earn incomes that fall in the high-six-figure range or higher as well.
Couples may have assets such as extensive stock portfolios, investments, and business ownership interests. Offshore accounts, family trusts, and other inheritances may also be included.
When Do You Need a High-Asset Divorce Lawyer?
Several situations often necessitate the need for a high-asset divorce lawyer. A traditional divorce lawyer may not have the experience you want to handle these types of cases.
If any of these situations sound familiar, you’ll want to contact a Frisco high-asset divorce lawyer.
You own a business with your spouse. If you and your spouse are business partners, you’ll want to hire a Frisco high-asset divorce lawyer. They know how to work with valuation experts and forensic accountants to determine your company’s worth. They will also know what steps to take to protect it during negotiations.
You suspect your spouse is hiding assets. Many people involved in high-asset divorces have multiple accounts and investments. While a spouse may know about some of these, there may be others that are hidden. If you sense your spouse is being dishonest, you’ll want to hire a high-asset divorce lawyer to investigate.
You have many real estate investments and/or inheritances. If you have inherited a great deal of wealth over the years, a high-asset divorce lawyer can help protect your assets. The same is true with large amounts of real estate. When you hire a Frisco high-asset divorce lawyer, they will work to make sure your spouse does not receive anything they are not entitled to.
If you fall into any of these categories, contact Albin Oldner Law. We can review your situation and determine the best course of action.
Common Issues in a High-Asset Divorce
There are many issues that come into play in a high-asset divorce. Here are some problems that a Frisco high-asset divorce lawyer can help you with:
Property Division
Texas is a community property state. This means that assets, including property, will be divided fairly, not always equally. The court will take different factors into account to make a decision. It will decide what a fair division of community property is. Both parties may not agree with this. This can lead to major legal issues in a divorce. High-asset cases may require expert valuation to help spouses reach a settlement.
Alimony/Spousal Support
In a high-asset divorce, a spouse may file a claim for spousal support if there is a major earning difference. They may seek spousal support if they have put their educational or professional development to the side to support their spouse’s career. These types of requests can become intense. The court must decide the appropriate amount. When you hire a Frisco high-asset divorce lawyer, they will fight so you receive what you should or are not forced to pay more than you should.
Business Ownership Interests
One spouse may have business ownership interests. This can lead to a high-asset divorce with difficult issues to resolve. You will want a high-asset lawyer on your side to make sure that you receive your fair share of whatever you may be entitled to.
Pre and Postnuptial Agreements
Many couples with a high net worth have prenuptial or postnuptial agreements. These protect them if they divorce. While these agreements can work to make things easier, they can also complicate situations. A Frisco high-asset divorce lawyer can help to sort through these agreements.
Tax Issues
There are bound to be tax issues in high-asset divorces. Transferring or liquidating assets can lead to capital gains taxes. Splitting up retirement or pension benefits can also lead to tax consequences. When you have a high-asset divorce lawyer working for you, they will know how to help in these situations, so you do not have to deal with large tax consequences.
What Albin Oldner Law Can Do as Your Frisco High-Asset Divorce Lawyer
Albin Older Law provides the best service when you are faced with a high-asset divorce. You can trust us to use our decades of experience to help you.
We build long-lasting relationships with our clients. Rely on us to answer your questions and guide you every step of the way.
At Albin Oldner Law, we provide affordable services. We look for ways to minimize your costs while not compromising our services.
FAQ About High-Asset Divorces
How long does a high-asset divorce take?
Due to the complexity and assets involved, these divorces can take over a year to reach a final verdict.
What can a forensic accountant do for me?
A forensic account can find hidden assets, trace separate property, and get to the bottom of each party’s financial footing.
Can I give some of my assets to another party for safekeeping during my divorce?
This type of action is not recommended. If you try to hide assets, you may face fines and penalties. It’s best to be honest about your assets and other aspects of your marriage.
Contact Us Today
If you are facing a high-asset divorce, Albin Oldner Law is here to help. We can review your situation and strategize about the best ways to pursue a fair settlement.
Call us today at 214-423-5100 or contact us online to schedule an appointment so we can get to work for you.