713-224-5529

Texas High Net Worth Lawyer: All You Need to Know About High Net Worth Divorce


Texas High Net Worth Lawyer

Divorce is an emotionally and financially challenging experience for anyone. When the community estate is large and diversified, the complexities increase because the financial stakes are much higher. Whether it is a matter of property division, child support or alimony, you could stand to gain or lose significantly unless you have a robust legal representation from a skilled Texas high net worth lawyer.

Child Support and Spousal Support

In Texas, child support payments are usually calculated according to set guidelines and formulas, but the calculations based on the standard guidelines are applicable only to parents with a certain income level. However, in high net worth cases, the income of the non-custodial parent may be substantially high.

In this situation, the court will evaluate the kind of lifestyle the child is used to living and may deviate from the guideline amount to protect the child’s best interests. Unless both parties can come to an agreement about a reasonable amount, the court may assign a child support dollar amount that it finds appropriate in the given circumstances.

Spousal support is another vital issue that your Texas high net worth attorney can negotiate on your behalf. In most cases, the marriage must have lasted for at least 10 years before a divorcing spouse becomes eligible to claim spouse support. In a high net worth divorce, the recipient spouse may claim they have much higher financial needs to maintain their lifestyle. The court may award up to $5,000 a month in spousal maintenance in these cases, depending on the situation.

Challenges of Community Property Division

When the financial stakes are high, you need a competent Texas high net worth attorney who is well-versed in handling large and complex property division issues involving assets, such as:

·        Business assets in a family business, partnership, or a public company, which may also include intangible assets such as intellectual property and goodwill

·        Extensive real estate properties, such as commercial office, vacation homes, timeshares, property outside Texas, or offshore properties

·        Professional practice

·        Stocks, bonds, mutual funds, ETFs, and cash deposits

·        Foreign account holdings and investments

·        Large retirement funds, pensions, and severance package

·        Trust funds

·        Exotic cars, art and antiques, and jewelry

·        Complex liabilities and debts

Identifying and Valuing the Community Assets

In a high net worth divorce, one party may be tempted to hide certain community assets, especially if he or she has been planning a divorce for some time. An experienced Texas high net worth lawyer can utilize the legal process of Discovery as well as hire professional forensic accounting experts to locate potential hidden assets.

Professional appraisers for business assets, real estate, and other high value assets such as vintage cars, artwork and jewelry may have to be involved to ensure that all community property is correctly valued. Your attorney may also work with a tax expert to guide you about the potential tax consequences related to spousal support, child support and property division.

When the stakes are high, you need professional guidance and support from a capable and resourceful law firm like Tyler Flood & Associates, Inc. We have what it takes to protect your rights in a high net worth divorce. To schedule a confidential consultation, call us at 713.224.5529 or contact us online.

Flood Lewis & Associates
By: Flood Lewis & Associates
Feb. 14 2022
Posted in DWI

Leave a Reply

Your email address will not be published.

Client Testimonials

  • 5 Stars
    "Tyler and his team are top notch—with years of experience under their belts they know what strategy will work to advocate for the best possible outcome. They are knowledgeable, professional, and courteous. Like a doctor, you never know you hire a bad attorney until it’s too late, and don’t take a gamble and retain someone else, especially when the clock starts running quickly, once you are arrested for a DWI. Run, don’t walk, to retain Flood and Associates!"
    - Alyssa S
  • 5 Stars
    "So. I can't say enough about Tyler Flood and Associates! BRAVO!! I had a 3rd DWI and my daughter Googled Tyler & Co. Who are DWI SPECIALISTS! I set up an appointment, and was impressed with their knowledge on the Laws and Science of DWI cases! Hank👍💥💥💥💥💥👌"
    - Hank Baerga
  • 5 Stars
    "Tyler Flood did an excellent job in taking care of my situation when no other attorney could do so. He kept communication open by way of text messages and phone calls, I was inform in every step along the way and he represented me well in court. His assistant Andrea was very quick in responding to my emails, I felt comforted by their genuine concerns of my case. Highly recommended"
    - Tamra Elwell
  • 5 Stars
    "Tyler Flood and associates are an astronomical team. Tyler was aggressive when needed to be and very professional during my trail. He left no stone unturned. I highly reccomend Mr. Flood if you ever find yourself in a situation such as myself. The not guilty verdict for a dwi was the best! "
    - Magaly
  • 5 Stars
    "Great experience under terrible circumstances...when your future is at risk, the attorney you chose could decide your fate..Flood & associates took my case personal...I felt I was represented by family...highly recommend Tyler to everyone!"
    - Brent
  • 5 Stars
    "I personally want everyone to know, this is the best law firm for dui issues! They are professional and responds all the time, communications between the office and myself was on par at all times and bottom line. MY CASE WAS DISMISSED!!!"
    - TW David C.
  • 5 Stars
    "Tyler did a great job for me. I never felt like he wanted me to settle. In fact he would encourage me to hang in there and go to trial. In the end my DWI was dismissed the day of trial. I would definitely recommend them."
    - Robin
Read More Testimonials
  • National Association of Criminal Defense Lawyers
  • Texas Criminal Lawyers Association
  • Harris County Criminal Lawyers Association
  • DUI Defense Lawyers Association
  • The American Chemical Society
  • National College for DUI Defense
  • Best DUI Lawyer
  • National Association of Criminal Defense Lawyers
  • Texas Criminal Lawyers Association
  • Harris County Criminal Lawyers Association
  • DUI Defense Lawyers Association
  • The American Chemical Society
  • National College for DUI Defense
Win an xbox Series X
Tyler Flood & Associates