Dripping Springs High Net Worth Divorce

The more wealth that a couple has between them, the more complicated the divorce process can become. Wealth is a factor in almost every aspect of the divorce, including child support, spousal support, and especially property division. If you’re involved in a Dripping Springs high net worth divorce, it’s critical that you have legal help prepared for these challenges.

The unique nature and complexities of high net worth divorces are nothing new to the team at the Vaught Law Firm. Our lawyers understand just how challenging it can be to work through these issues, and they bring their clients extensive knowledge and experience. Their skills can be a critical help to ensuring you see a fair outcome in your divorce.

What Does a Dripping Springs High Net Worth Divorce Lawyer Do?

As your lawyer, it’s our job to represent you and advocate on your behalf throughout the divorce process. This job has several different functions, but the overarching role is to help you through each step. A divorce will need to follow the proper steps and procedures defined by the law, and we can ensure that happens.

The first elements of the divorce are filing the petition and serving papers or, if it was your spouse who initially filed, responding to the petition. This involves a lot of paperwork, which will need to be completed properly and in a timely fashion. Ensuring that this kind of paperwork is handled properly throughout the divorce process is one of the vital aspects of what your lawyer will help with.

Divorce Negotiation

Many couples want to avoid letting the details of their divorce be decided by the court. Instead, negotiating an agreement allows both sides to have a bit more influence on the final outcome. It also prevents them from having to adhere to whatever decision the court comes to. This opportunity to have more control over the process is especially important in a high net worth divorce, as both parties will want to have some say in how these complicated assets are addressed and divided.

This process of negotiating a separation agreement can often be challenging. In every situation, there is an emotional element that can be difficult to navigate as both parties struggle with feelings of disappointment, sadness, and resentment. Additionally, the complexity of high net worth couples’ property and assets can add to the challenges. The right lawyer can be crucial to keeping the process moving forward, as well as ensuring that whatever is agreed upon meets legal requirements. A judge will need to approve whatever agreement is made, and we can craft something that they are likely to sign off on.

Another important element of succeeding in negotiations is understanding what to reasonably expect from the process. A good lawyer will help set expectations so that you are less likely to be blindsided by the outcome. We also can help advise you regarding your options and possible decisions throughout the process.

If there is simply no way to reach a settlement regarding certain issues, then the divorce may need to go to court. If this is the case, we are prepared to represent you through those proceedings and advocate for your interests.

Property Division in High Net Worth Divorce

While child custody, child support, and spousal support are complicated issues involved in divorce and could be impacted by a high net worth, the primary challenge that a high net worth poses in a divorce is how it relates to the issue of property division.

Texas operates under community property rules for the division of property in a divorce. This process requires several steps to complete. One of the first steps involves financial disclosure, where both parties will need to ensure that the other has a clear picture of what assets and debts both parties have.

The property owned by the couple will then need to be divided into community property and separate property. Generally, community property is all the property that doesn’t qualify as separate property.

For property to qualify as separate property, it will have to be something that was owned by a spouse prior to the marriage or some form of inheritance or gift that was received during the marriage. Unless property can be proven to belong in the category of separate property, it is to be assumed to be community property.

Equitable Property Division

While the property will need to be assessed for value, Texas does not require that property be split in an equal 50-50 manner. Instead, property will need to be divided in a manner that is considered to be equitable by the judge. In determining what is equitable, a judge must consider the outcome to be “just and right.” There are a number of different factors that are involved in determining what is “just and right,” including:

• Earning power
• Fault for the marriage ending
• Health
• Custody of the children
• Other relevant factors

We Help People Navigate Dripping Springs High Net Worth Divorces

Divorce is already a complicated process, but the higher the net worth of the couple, the more complex it can become. Property division, in particular, can be complicated when wealth, such as real estate and standard investments, is being divided.

In the case of high net worth divorces, there are often many more complex financial elements involved, including assets such as businesses, homes, high-value physical assets, and unusual assets. It’s important to work with someone experienced in dealing with these kinds of complicated issues.

At the Vaught Law Firm, we have experience handling a wide variety of divorce issues, including the kinds of unique challenges presented by a high net worth divorce.

Our team of lawyers is experienced and knowledgeable in family law, ensuring that you get the finest legal help you can receive. We also have a thorough understanding of the sensitive nature of divorce and the emotional stress you may be feeling. If this is the kind of help you need for your high net worth divorce, contact our team today.