While any divorce proceeding in Texas has the potential to be difficult, divorces that involve high net worth individuals, or high value assets become exponentially more difficult to advantageously resolve. Because there is so much more at stake than simpler divorce proceedings high value divorce cases require the skill of a legal team experienced in these matters in order to protect your interests. In a high value divorce proceeding, your legal team must be knowledgeable about the valuation of the assets involved, and experienced with doing the research necessary to discover possible hidden assets. Additionally, as the number and variety of the marital property increases, it is important that your Texas legal team take into consideration the full spectrum of divisible property:
- Business Owned Property
- Offshore Accounts
- Deferred Compensation Packages
- Profit Sharing Plans
- Retirement Plans
- Investment Accounts
- Life Insurance Policies
- High Value Personal Property
- Club and Social Organization Memberships
And, from a monetary standpoint, any liabilities such as debts, tax considerations, and upcoming financial obligations can be as important, if not more so, than a couple’s assets.
Further complicating a high value divorce proceeding are matters of prenuptial and postnuptial agreements. Such agreements do not often arise in simple divorce proceedings, but are not uncommon when the parties involved in the divorce have substantial assets. This is particularly true in cases where the parties to the divorce have widely different earnings capacities, or one party entered the marriage with significant wealth-generating premarital assets. In such cases it is critical to retain counsel with the knowledge to assertively defend your rights and aggressively protect your best interests when claiming protected assets or defending against debt obligations covered by the agreement.
Children of high net worth families often lead a more expensive lifestyle than other kids: private schools, more costly extracurricular activities, traveling more often, and having more expensive clothes and toys. In many cases the standard formulas for calculating the levels of child support payments that a parent will be obligated to pay will not be sufficient to continue this lifestyle. When this happens, a custodial parent’s legal team may seek to have the Court set the level of child support above the statutory maximum. These actions are complex, and require that the attorney be highly adept in such matters.
At the Law Offices of Udeshi Clark and associates we have a proven track record of success negotiating the additional issues that are involved in the divorce proceedings of high net worth individuals, compassionately and with discretion. Dallas divorce proceedings that incorporate high value assets and high net worth individuals carry a variety of their own specific complications, and require the attention of a law firm versed in these matters. Contact a member of our Dallas legal team today by telephone at (469) 914-5564 or online to discuss your situation and learn about your options.