Austin High Asset Divorce Attorney
Contact our Austin high asset divorce attorney to learn more about how we can protect your assets and best interests.
File for Divorce in Austin, TX
Divorce can be challenging, especially with significant assets at stake. Our experienced attorneys specialize in high asset divorces, providing empathetic support, educational guidance, and aggressive advocacy. We understand the emotional toll of divorce and offer compassionate support, while also empowering you with the knowledge you need to make informed decisions.
Our assertive approach ensures that your interests are protected throughout the process. With a proven track record of success, we are a leading divorce law firm in Austin. Contact us today for a confidential consultation and let us provide you with the skilled representation you need to secure your financial future in your high asset divorce.
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What Is a High Asset Divorce?
In a high-asset divorce, two individuals seek to dissolve their marriage, with at least one of them having a high-net-worth or significant assets. The presence of valuable assets and liabilities can greatly impact the divorce process in various ways.
Child support disputes can be particularly contentious in high-asset divorces. In Texas, a specific child support formula is used to determine the amount owed by the noncustodial parent (possessory conservator) to the custodial parent. However, if the possessory conservator is a high-net-worth individual, the court may require them to pay more than the formula dictates. Conversely, child support payments may be reduced if the custodial parent (conservator) is financially stable due to their high-net-worth status.
The property division process can also be complex in high-asset divorces. With multiple real estate properties, businesses, and valuable investment accounts involved, determining a fair division of property becomes challenging. As the outcome of property division disputes can significantly impact the financial future of individuals in a high-net-worth divorce, it’s not uncommon for the process to become combative.
At our firm, we understand the complexities of high-asset divorces and the challenges they pose. Our experienced attorneys are skilled in handling high-asset divorces and are dedicated to protecting our clients’ interests. We provide expert legal guidance and aggressive advocacy to ensure the best possible outcome for our clients in high-asset divorce cases. Contact us today for a confidential consultation and let us provide you with the knowledgeable and assertive representation you need during this challenging time.
Going through a divorce stinks for everyone but with Aishah on your side you know that you have someone fighting for you and supporting you every step along the way. She and her team were very communicative and responsive. If you need a divorce attorney Aishah is the best.
Why Work With Our Firm
With You Every Step of the Way
At our law firm, we understand that you and your case are unique. Unlike other Austin family law attorneys who rely on formulas to resolve divorce cases, we believe that this approach may not always serve your best interests. We are dedicated to pursuing the best interests of each client, and this requires personalized attention to every case.
We recognize that each divorce case has its own set of factors and variables that set it apart. Our team of experienced attorneys invests time and effort in extensive preparation and dogged determination to fight for the best possible outcome for your case. We understand that your divorce is a significant event in your life, and we are committed to providing you with the highest level of legal representation.
Divorce matters we handle:
- Alimony & spousal support
- Child custody
- Child support
- Collaborative divorce
- Division of property
Navigating a High Asset Divorce: Key Considerations and Strategies to Protect Your Interests
If you’re going through a high-asset divorce, we have some helpful tips to assist you in preparing for the process and making it smoother:
Inventory all your assets and liabilities.
Make sure to thoroughly inventory all your assets and liabilities, including both marital and separate property. It’s crucial to provide a complete list to the court as part of the property division process in a high-asset divorce. Avoid accidentally omitting any items, as this can result in legal penalties.
Consider the Impact of Taxes
Consider the implications of tax season when determining how to divide your property in a high-asset divorce. While it may be tempting to fight for assets like the marital home, it’s essential to carefully evaluate the financial impact. Post-divorce, your taxes could significantly change, affecting your financial situation.
For instance, keeping the marital home may result in estate tax obligations, while selling it could incur capital gains. It’s a good idea to consult with your accountant and assess how different aspects of the divorce process might affect your tax situation.
Factor In Liabilities
Take into consideration your liabilities, such as debts, during a high-asset divorce. While debts may not be the primary focus for many, they can significantly impact the property division process. If you or your spouse have substantial debts, or if you jointly own debts, carefully consider how you want to handle them as part of the divorce proceedings.
Frequently Asked Questions
With an experienced Austin high-asset divorce attorney on your side, you have someone to guide you every step of the way. Below are a few of the questions we commonly receive from clients.
In Texas, a divorce is typically categorized as a high net-worth divorce if it involves liquid assets exceeding $1 million. Couples with significant wealth often possess a diverse range of assets. This includes, but is not limited to, the following.
- Retirement accounts
- Real estate properties
- Business ownership stakes
Firstly, it is important to note that a high net-worth divorce process often requires more time compared to a standard divorce. This type of divorce can resemble the dissolution of a large corporation, involving complex financial considerations. Consequently, the associated legal costs are likely to be higher than those of a more conventional divorce.
Moreover, it’s a good idea to work with experts, such as certified public accountants, business valuation specialists, financial planners, or investigators. These professionals play a crucial role in constructing a comprehensive overview of your marital assets and providing valuable insights regarding their equitable division. Additionally, they can assist in identifying any concealed assets that your spouse may have attempted to withhold from disclosure.
With an Austin high-asset divorce attorney from The Law Offices of Aishah McCoy, you have someone to help you understand the process. We are with you every step of the way.
Under Texas law, the goal is to divide community property and debt in a “just and right” way. Generally, this does not necessitate a 50/50 split. To learn more about your options, it’s important to consult a divorce attorney.
Contact a Divorce Attorney
Navigating the dissolution of a marriage is often complex, but having skilled legal counsel can make the process smoother. At The Law Office of Aishah McCoy, our Austin high-asset divorce lawyer comprehends the intricacies of Texas family law.
As you contemplate your next steps, it’s crucial to be aware of your options. Contact us at (214) 507-0892 or send us a message to schedule a consultation.