Killeen High-Asset Divorce Lawyer

Financial concerns are generally a top priority in divorce, which could lead to considerable conflict. When the divorce involves high assets, related concerns tend to be amplified. Generally, the greater the assets, the more room for challenges to arise.

If you are heading into a high-asset divorce, you should not wait to consult a divorce attorney for legal guidance. An experienced Killeen high-asset divorce lawyer at Kimbrough Legal, PLLC, is ready to help.

The Division of Community Property

In Texas, all the assets that you, your spouse, or the two of you have acquired together over the course of your marriage are considered community property, which you must divide justly in a divorce. Some exceptions to community property include:

• Separate purchases made with separate assets
• The pain and suffering component of personal injury claims
• Gifts or inheritances that one spouse receives in their own name alone
• Property acquired prior to the marriage that has not commingled with community assets

The dividing line between separate and community assets can be blurred over the course of a long union, which can add a layer of complication. Your divorce lawyer in Killeen could identify separate or community property and assist in the division of assets.

What Are the Financial Complications That Come With High Assets?

When a married couple’s finances include owning a home and one or two incomes, their community property is relatively straightforward. High assets, however, tend to be far more complex. Additionally, there is considerably more room for the involved finances to become difficult to identify. Your Killeen attorney could guide you through the range of divorce complications that apply as assets increase.

Business Ownership

Putting a value on a small or large business involves complicated financials that intensify the related challenges. When it comes to businesses and divorce, careful forensic accounting is important. Spouses must make decisions on co-ownership or selling the business and splitting profits, and a divorce lawyer could offer clear guidance on which option is best for you.

Intangible Assets That Are More Difficult To Assess

High assets often include intangible or digital ones. Prime examples include stock options, intellectual property, and shares in privately held companies. Even if you have a clear understanding of these assets, assigning a value can be extremely challenging. This makes having the professional legal representation of a savvy high-asset divorce attorney the best path forward.

Assets That Require Valuations

High-asset estates often include items that are difficult to assign an accurate monetary worth and that may have fluctuating values. For example, jewelry and art collections can be extremely valuable, but assigning an exact number that both spouses are willing to accept often comes with lengthy conversations.

High Assets Create More Room for Financial Fraud

Divorce can drive reasonable people to act unreasonably, and financial issues are a fine example. The State of Texas requires a just and right division of community assets, which does not necessarily mean an equal division. The greater the assets involved, the more opportunities and options a dishonest spouse has to hide assets. This is called fraud on the community, which is a critical consideration in high-asset divorces.

If you have certain financial rights, such as spousal maintenance, that can play a more important role in high-asset cases, you should consult with a knowledgeable divorce lawyer in Killeen today. Ensuring you receive the payments you are do to maintain your lifestyle is important.

Contact Our Experienced Killeen High-Asset Divorce Attorneys for Assistance

Our dedicated Killeen high-asset divorce lawyer at Kimbrough Legal, PLLC, could exhaust all possible efforts in the skilled assessment of your community assets and fierce advocacy for your financial rights. Learn more about what we could do to help you by contacting us online or giving our firm a call today.