Evidence in High Net Worth Divorce Cases in Texas
ATTORNEYS IN DALLAS
In high net worth divorces, couples often dispute whether property is community and the value of such property. Appraisers are often needed to value community property.
Evidence in High Net Worth Divorce Cases
Dividing marital property in divorce cases may be straightforward for couples with modest assets, but it can become complicated and contentious for high net worth individuals. Such individuals may contest each other's rights to certain assets, leading to disputes that hinge on the presentation of evidence. In high net worth divorce cases, it is critical to effectively establish the value and interest of all property in question.
Characterization of Property in Texas Divorces
In Texas divorce cases, property is classified as either community or separate. Typically, any property obtained by either spouse during the marriage is presumed to be community property. However, certain types of property, such as gifts, inheritances, and personal injury damages, may be classified as separate property, unless they were intended to compensate for lost wages. Moreover, property that is explicitly identified as separate property will be excluded from community property, even if it was obtained during the marriage. Any property that either spouse owned before the marriage or that falls under one of the exceptions to community property is also considered separate property. Community property is jointly owned by both parties and is subject to equitable distribution, which means the court may divide it as it considers fair.
Disagreements frequently arise between high net worth couples during divorce proceedings regarding whether the property is considered community or separate, and the value of the property. To dispute the presumption that an asset is community property, a party must provide clear and convincing evidence that demonstrates that the property belongs to one spouse. This requirement applies to high net worth divorce cases as well, where the evidence must establish that it is highly probable or almost certain that one spouse owns the property. A prenuptial agreement may serve as evidence in some cases, and in Texas, prenuptial agreements are enforceable if they are written, signed voluntarily by both parties, and follow a full and fair disclosure of assets and liabilities, unless the parties waive such a disclosure. However, if one spouse demonstrates that the other party did not adequately disclose finances before signing the agreement, the court may deem it unconscionable and unenforceable.
When community and separate property are mixed, issues may also arise. For example, if one spouse uses income from separate property to buy or maintain community property, or contributes community income to a separate account or 401K, determining whether the property is separate or community can be disputed. In such cases, both parties may need financial experts to determine the nature and value of the property and provide testimony. In some high net worth cases, one spouse may try to decrease the value of separate property or assets to lower alimony obligations or convince the court to award them a greater percentage of community property. Therefore, in high net worth divorce cases, parties may need to provide appraisals or reports from forensic accountants to establish the property's value. An experienced divorce attorney can assist in navigating arguments over the validity of prenuptial agreements and other disputes related to high net worth divorce cases.
Speak with an Experienced Divorce Attorney
Individuals with substantial net worth often possess significant assets that require safeguarding in the event of a divorce. At Wilson Whitaker Rynell, our divorce attorneys are committed to assisting clients in managing the complexities of high-stakes divorces. Our firm represents clients in divorce cases in various Texas cities, including Dallas, Austin, Houston, Fort Worth, and all cities within Dallas County, Tarrant County, Collin County, and Denton County.
- Divorce and Winning the Marital Residence
- Dividing Stocks & Bonds in Texas Divorce
- Divorce During Pregnancy
- Divorce for the Professional Athlete
- Divorce for Business Partners
- Domestic Violence and Texas Divorce
- Egregious Conduct and Equitable Distribution
- Evidence in Fault Divorces
- Evidence in High Net Worth Divorce Clients
- Expert Witness Testimony in Divorces
- Financial Disclosures in Divorce
- Fraudulent Transfers of Property
- Hidden Assets by Spouse in Divorce
- High Net Worth and Client Defense
- Informal Marriage in Texas Divorce
- Insurance Plans in Texas Divorce
- Intellectual Property in Divorce
- International Divorce and Legal Rights
- Interspousal Gifts and Divorce
- Jointly Titled Personal Property
- Just And Right Property Division
- Marital Assets
- Marital Debts After Divorce
- Military Divorce in Texas
- Mixed Property in Property Disputes
- Modification of Spousal Support in Texas
- Modifying Marital Property Agreements
- Motions in Divorce Proceedings
- Oil And Mineral Rights in Divorce
- Partition or Exchange Agreements
- Divorce and the Mediation Process
- Process of Filing for Divorce in Texas
- Property Division and Distribution
- Property Division and Appeals
- Property Settlements in Divorce
- Proving Marital Property Agreements
- Rehabilitative Spousal Maintenance
- Same Sex Divorce
- Separate and Community Property
- Separation Agreements
- Social Media Use in Divorce
- Social Security Benefits in Divorce
- Spousal Maintenance in Texas
- Spousal Support Violations in Texas
- Tax Planning in Divorce
- Termination of Spousal Maintenance
- Timing of Divorce in Texas
- Trust Assets in Texas Divorces
- Trusts In Divorce
- Uncontested Divorce in Texas
- Undisclosed Assets after Divorce
- Voiding a Marriage in Texas
Best Texas Divorce Lawyers
Our Dallas Divorce Attorneys Serve Clients Throughout Texas
In order to best prepare yourself during the divorce process, it is vital that you have a
qualified divorce attorney by your side. Our divorce law firm is dedicated to providing knowledgeable, professional, and effective legal counsel for all types of
family and
divorce matters. When you work with our experienced Dallas family law attorneys, you can trust that we will have your best interests in mind.
CLIENT MATTERS
5,000+
YEARS OF SERVICE
25+
Award Winning
Recognized in the legal industry as dedicated board-certified lawyers and Rising Stars.
Expert Team
Your project will be handled by legal experts every time. You will have the most experienced attorneys working for you.
Quality Representation
