Steiner Ranch High Net Worth Divorce Lawyer

Steiner Ranch High Net Worth Divorce Attorney

Going through a divorce can be very stressful. This is especially true for high-net-worth couples with numerous complex assets that need to be divided correctly. If you’re in need of a Steiner Ranch, TX, high-net-worth divorce lawyer, Jimmy Vaught of Counsel for the Eggleston Law Firm is here to help.

The Complications of High-Net-Worth Divorce Cases

A divorce case is considered high net worth if the couple’s combined assets are above a certain threshold. Some of these assets may include: 

• Various properties, including residential and commercial
• Business holdings and associated assets, such as patents
• Investments like stocks, bonds, and family trusts
• Valuables such as jewelry, automobiles, art, and boats
• Retirement plans such as 401(k)s, individual retirement accounts (IRAs), and pensions
• International or out-of-state assets

In addition to many different types of assets, high-net-worth divorces can be more complicated due to the use of pre-nuptial or post-nuptial agreements — as of 2023, about 20% of all marriages have a prenup — as well as tax issues that can arise when assets are divided.

With the average household income at almost $200,000 in Steiner Ranch, TX, the area is home to many affluent couples who normally have several assets to be equally divided. This can make for a challenging divorce process.

Why Do I Need to Hire a High-Net-Worth Divorce Lawyer?

Every state has its own divorce laws, and Texas is no exception. Texas is one of the few community property states in the U.S. In general terms, this means that any assets a couple acquires while married are owned equally by the couple.

However, the equal splitting concept of community property can get a bit tricky in high-net-worth divorce cases when there are so many assets to divide. And under Texas’s “just and right” code, assets are not always split 50/50. A judge will consider all of the circumstances surrounding the divorce to ensure all assets are divided in a fair manner.

Additionally, there can sometimes be hidden assets that one spouse knows about while the other does not. Hidden assets can include: 

• Cash stashed away in secret areas
• Money “loaned” out to other family members or friends, that they suddenly pay back after a divorce is finalized
• Offshore bank accounts
• Real estate purchased under a different name
• Valuables, like jewelry and art, kept out of sight

This is why hiring a lawyer with years of experience with high-value divorce cases and who knows the ins and outs of high-net-worth divorce laws in Texas is imperative. Jimmy Vaught is a board-certified family law attorney and has decades of experience as a divorce lawyer.

He can support you throughout your divorce, even as a mediator, and take your case to the Travis County Civil and Family Courts in Austin if necessary.

How a Steiner Ranch, TX High Net Worth Divorce Lawyer Can Help

While Texas has a relatively low divorce rate of about 2.1 new divorces per 1,000 females aged 15 and older, divorce is unfortunately still a very common occurrence. Adding the complexities of assets and potential tax complications makes high-net-worth divorces much more difficult than other divorce cases.

If you need to hire a high-net-worth divorce lawyer in Steiner Ranch, the Jimmy Vaught of Counsel for the Eggleston Law Firm is here to help. Contact our office today to schedule a consultation and learn more.