Georgetown High-Asset Divorce Lawyer

High-Asset Divorce Attorney in Georgetown, TX

When you get married, divorce is likely not on your mind. Unfortunately, some marriages end long before forever. It’s important to remember that divorce is not a failure. It’s simply choosing to prioritize your own happiness and remove yourself from an emotionally or financially painful situation. A divorce can be particularly complicated if there are significant assets involved. To assist with the transition, you should contact a Georgetown high-asset divorce lawyer soon.

The legal team at Heinrich Christian, PLLC, understands how hard it can be to pursue a high-asset divorce case on your own. Texas has high-asset divorce laws that can be complicated to navigate if you’ve never had to do this before. The efforts of a Georgetown high-asset divorce attorney can greatly improve your case. Our firm can devote decades of focused experience to your situation, providing you with a stronger chance of success in your divorce.

The High-Asset Divorce Process in Texas

If you decide to pursue a high-asset divorce in Georgetown, your case will be filed in the Williamson County District Court, particularly the 480th District Court, as it tends to handle most family law matters. There are multiple grounds for divorce in Texas, including adultery and insupportability. The state has a divorce rate of 2.1 per 1,000 people, and a marriage rate of 49%. Your goal here will likely be to preserve as many of your assets as possible. We can help you do so.

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A high-asset divorce occurs when one or both spouses have accumulated a substantial amount of individual or joint wealth and assets. This type of divorce is often lengthy, expensive, emotional, and contentious, as each spouse understandably wants to come out on top. It’s important to know exactly what belongs to you and what you’re entitled to get from a divorce. That’s why you should hire a high-asset divorce lawyer to represent you. Here are some important steps in the process:

• Residency requirement. To get divorced in Georgetown, you need to make sure you meet the residency requirements. You need to be a resident of Texas for at least six months and a resident of Williamson County for at least 90 days to file with the county’s district court. If you file without meeting this requirement, your case could be dismissed due to a lack of jurisdiction. It’s recommended that you wait until you do meet it.
• Asset identification. One of the most important elements of a high-asset divorce is identifying which assets are yours and which are your spouse’s. It’s possible that you’ve been considering a divorce for some time and have already begun the identification process. Be sure to maintain consistent documentation that proves sole ownership. That way, you have a clear and full understanding of everything you may have to give up in the divorce.
• Forensic accounting. You may want to consider hiring a forensic accountant or an appraiser to go through your assets for you. By hiring a professional, you are making sure no mistakes are made in your accounting. That way, you can move through your divorce with a clear head, focusing on other important factors, like child custody or alimony.
• Negotiation. After you file for a divorce, your spouse will have 20 days to file a response. Then, it’s possible that you will try to negotiate asset division out of court to avoid the expense and time of litigation. Many divorces are settled out of court through mediation. You and your spouse will sit down with a neutral third party to discuss every element of your divorce. If you don’t reach an agreement, court may be the only option.

FAQs

What Assets Cannot Be Touched in a Divorce in Texas?

In a Texas divorce, any property that was owned by one partner before the marriage cannot be touched in a divorce. This is known as separate property, and it won’t be considered during the community property split. This extends to:

• Inheritances
• Gifts to only one spouse
• Personal injury settlements
• Some asset appreciations

In a high-asset divorce, you may want to consider hiring an appraiser to give you a full accounting of your separate property value.

What Shouldn’t I Do During a Divorce in Texas?

There are many actions you should avoid during a divorce in Texas, as certain public actions can make you look vindictive, unstable, or even cruel. Don’t vent on social media, don’t badmouth your spouse to your children, and don’t drain any joint bank accounts, as that could result in criminal action. Never ignore a court order, and do what you can to avoid exposing your children to any conflict. Consistently be the bigger person.

Does My Spouse Get Half of My 401(k) in a Divorce in Texas?

Yes, your spouse is generally entitled to half of your 40l(k) contributions and growth that occurred during the marriage if you get divorced in Texas. Texas is a community property state, which means that any wealth accumulated during the marriage is seen as marital property and will be divided 50/50. However, 40l(k) contributions are not always divided equally. They are divided in accordance with fault and earning capacity.

Can You Hide Assets During a Divorce in Texas?

No, you should never even attempt to hide assets in a divorce in Texas. Not only can doing so jeopardize your settlement, but it is also illegal. You could end up facing serious fines or even jail time for fraud. Be totally honest with your finances during your divorce. If you suspect that your spouse is hiding assets, hire a forensic accountant to determine if it’s true. Then, tell your lawyer, and they can bring it to the court’s attention.

Hire a High-Asset Divorce Lawyer Today

The last thing you want is to lose most of your assets in a divorce. The mere thought of it can be enough to cause anxiety. The most effective thing you can do for yourself is hire a high-asset divorce lawyer to oversee your case and find options. At Heinrich Christian, PLLC, we can provide quality assistance. Contact us to speak with someone on our team in Georgetown.