Lake Travis High-Asset Divorce Lawyer

Experienced High-Asset Divorce Attorney in Lake Travis, TX

If you’re going through the process of divorce, it’s vital that you take the proper steps to protect your financial interests and assets. The financial side of divorce can be incredibly complex, especially for high-net-worth individuals; the more high-value assets you have, particularly joint assets, the harder it can be to disentangle your financial life from that of your spouse. To assist with this transition, you should contact a Lake Travis high-asset divorce lawyer for help.

Your Greater Austin High-Asset Divorce Team

At Heinrich Christian, PLLC, we recognize how hard it can be to go through a high-asset divorce case, especially when you don’t have an experienced attorney in your corner to help you. Texas’s high-asset divorce laws that can hurt you financially if you aren’t careful. Our firm can bring decades of focused family law experience to your case. We can help you identify your assets and make a strong legal plan.

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Getting Divorced in Lake Travis

Divorce cases in Lake Travis generally take place in the Travis County District Court, located at the Travis County Civil and Family Courts Facility on Guadalupe Street in Austin. According to 2023 data, Texas has a divorce rate of 2.1 cases per year per 1,000 people, compared to an annual marriage rate of 5.8 marriages per 1,000 residents. As those numbers suggest, divorce is very common in Texas; approximately 49% of Texans over the age of 15 are married, while around 10% are divorced.

Factors in a High-Asset Divorce Case in Travis County

The primary difference between a high-asset divorce and a traditional divorce is how much you could potentially lose during asset division. When one or both spouses have accumulated a considerable amount of joint wealth, separating that wealth can be the most legally complex part of the divorce process. You should hire a high-asset divorce lawyer to walk you through a potential plan to protect your assets. Here are some important high-asset divorce factors:

• Meeting residency requirements. To get divorced in Texas, you still have to meet the residency requirements needed to file. You must be a resident of Texas for at least six months and a resident of your filing county for at least 90 days. If you file for divorce without meeting both of those requirements, it’s possible your divorce could be dismissed because of a lack of jurisdiction.
• Identifying assets and tracing ownership. You can’t fully know the true valuation of your assets unless you know what those assets are. It’s possible for some couples to amass so much wealth during their marriage that they aren’t fully aware of what’s jointly owned and what’s separate property. Make sure you start identifying every potential asset, and be sure to maintain consistent documentation that proves sole or joint ownership.
• Hiring a forensic accountant. The process of identifying, appraising, and tracing the ownership of everything you own can be extremely difficult, especially when it comes to certain intangible assets like bank accounts and stocks. It’s recommended that you hire a forensic accountant to comb through your finances very carefully. That way, you can help make sure no mistakes are made that could cost you dearly in the future.
• Negotiation. When you file for divorce, your spouse typically has 20 days to respond. Once they do, they may want to negotiate asset division out of court in order to avoid unnecessary fees, delays, and complications. Mediation has settled many divorces before they ever see the inside of a courtroom. Having a Lake Travis high-asset divorce attorney to represent you during the negotiation process can give you a stronger chance of success.

FAQs

Which Assets Are Untouchable in a Divorce in Texas?

In a Texas divorce, any property that’s legally classified as separate property cannot be touched in asset division. This generally means any property that was owned solely by one spouse before marriage, as well as gifts, inheritances, and certain personal injury awards given to just one spouse. It’s important to save any documentation that proves sole ownership of separate property; otherwise, the court may automatically view it as joint property.

How Much Does Hiring a High-Asset Divorce Lawyer Typically Cost in Texas?

Generally, hiring a high-asset divorce lawyer costs considerably more than hiring a standard divorce lawyer in Texas. High-Asset divorces deal with higher financial stakes and a higher potential for conflict. They may also require a lawyer to work with other professionals, like forensic accountants. All of these factors can contribute to the cost. The most significant factor, though, is whether the divorce is contested or uncontested; contested divorces tend to cost more.

What Should I Avoid During a High-Asset Divorce?

There are many behaviors you should not engage in during a high-asset divorce in Texas. You shouldn’t speak negatively about your spouse on social media. In fact, avoid posting anything about your divorce on social media at all. Don’t try to hide assets, as this is illegal in Texas and could severely hurt your divorce settlement if you are discovered. Above all, never ignore a court order. Doing so could result in contempt of court charges.

How Long Will My Divorce Take to Finalize?

In Texas, every divorce typically has a minimum waiting period of 60 days. This waiting period is intended to give both spouses time to decide if divorce is what they really want. Aside from the waiting period, the amount of time your divorce takes depends on multiple additional factors, including each spouse’s willingness to compromise and negotiate. Some divorces are resolved in a matter of months, while others may take years to conclude.

Hire a High-Asset Divorce Lawyer

Protecting your high-value assets in a divorce can be very difficult without professional legal assistance. When you have so much at stake financially, you shouldn’t leave anything to chance. When you hire an experienced high-asset divorce lawyer, you’re investing in your future and putting your trust in the right hands.

At Heinrich Christian, PLLC, we can advocate for you, help you catalog your assets, and work to protect your interests. Contact us today to speak with someone who can help.