High Net Worth/High Asset Divorce Lawyers
Gregory Law PLLC has extensive experience representing high net worth individuals who are going through a divorce. We know that the divorce process becomes more complicated when it comes to the fair and equitable division of property. It is critical that the assets are accurately valued and characterized as separate or community property. Because Texas is a community property state, all property acquired during the marriage is community property. You need a legal team that has access to expert appraisers and financial professionals who can make sure that your estate is identified, valued, and divided fairly.
Our skilled high-asset divorce attorneys will fight to help you retain what matters most to you. What your spouse considers “fair” distribution of property may not be what you consider fair, so turn to a legal team that has experience getting the appropriate outcome when it comes to the equitable distribution of assets. Contact us at (713) 861-1293 or fill out a contact form to schedule a confidential consultation with one of our attorneys today.
Why Do I Need a Lawyer to Handle High Net Worth/High Asset Divorce?
One of the most common problems in many high net worth divorces is one spouse attempting to hide assets. Many spouses attempt to covertly transfer funds or other property to friends, family members, or business partners. However, attempts to hide assets usually just result in judges awarding disproportionate shares to the spouse whom the assets were being hidden from.
In other cases, a higher-earning spouse owns a business or has ownership rights in multiple companies or other entities. Such arrangements can be very complicated to untangle because the spouse could have multiple financial arrangements that are subject to property division requirements.
Having an attorney can help you uncover any assets your spouse may be attending to hide. An experienced lawyer will know how to identify hidden assets and make sure they are properly distributed.
Texas Family Code § 7.009 establishes what a court should do when it uncovers “fraud on the community,” or hidden assets. When a court determines that a spouse has committed actual or constructive fraud on the community, the court will calculate the value by which the community estate was depleted and divide the value of the reconstituted estate between the parties.
Under Texas Family Code § 7.009(c), the court may take any action to fairly divide the estate. Such measures may include awarding an appropriate share of the community estate remaining to the wronged spouse and/or awarding a money judgment in favor of the wronged spouse against the spouse who committed the actual or constructive fraud.
Beyond all of these facets, legal representation is important because an attorney can usually help a spouse see the much broader big picture so other often overlooked factors are taken into account.
Why Choose Gregory Law PLLC?
Gregory Law PLLC was founded by Myrna Gregory, a native Houstonian. Ms. Gregory is admitted to all state courts in Texas as well as the United States District Court for the Southern District of Texas. She has over 25 years of experience handling divorce cases. She is also fluent in Spanish.
Kitty L. Crutcher and Melissa Bazan are also attorneys at Gregory Law PLLC. Both attorneys are admitted to the Family Section of the State Bar of Texas.
We understand the highly technical nature needed to resolve complex matters in high net worth divorces. Our firm can work to make sure that your rights are protected and you maintain the assets you are entitled to.
High Net Worth/High Asset Cases We Handle
A person of considerable wealth usually has a very diverse financial portfolio. It is extremely important for a spouse involved in a high net worth divorce to have knowledgeable legal representation capable of properly valuing such complex assets as:
- Real estate
- Privately and publicly held companies
- Employee benefit plans
- Retirement accounts
- Professional partnerships
- Life insurance policies
- Money market accounts
- Intellectual property
- Partnership interests
- Business ownership interests
- Foreign properties
Many high net worth divorces involve disputes about what constitutes community property and what is considered separate property. An experienced attorney will again be incredibly useful in helping spouses know what their rights are on these disputes.
The general rule in Texas is that all property a spouse owned before marriage is considered separate property, but any property acquired during the marriage becomes community property subject to division. Certain types of property, such as inheritances or gifts to specific spouses, may be considered separate property.
The higher-earning spouse in a high net worth divorce will usually try to increase the size or number of assets being given to the lower-earning spouse in an effort to compel a quick resolution. You should not let your spouse pressure you into signing divorce papers until you have had the chance to have an experienced lawyer review your case.
The Houston area is home to a number of very wealthy individuals who have amassed fortunes in a variety of different industries. Spouses involved in high net worth divorces need to retain legal counsel in order to make sure that they are achieving the most favorable possible outcomes to their divorce cases.
Divorces involving tremendous personal wealth can frequently require even more than just an experienced attorney. For cases involving complicated financial portfolios, Gregory Law PLLC is not afraid to utilize necessary financial experts such as appraisers, business valuators, and certified public accountants (CPAs).
Are you seeking a high net worth divorce in Harris County? You will want to make sure you have legal representation. Gregory Law PLLC represents clients all over the Houston area. Call (713) 861-1293 to have our divorce lawyers review your case and discuss all of your legal options during an initial consultation.