There are a variety of complex issues in high net worth divorces cases in Wichita Falls and the surrounding area. Attorney Richard Sutherland offers an overview of some of the high conflict problems people have involving complex finances, child support and spousal maintenance, and how to isolate differences that can be resolved in mediation and what needs to be litigated in court.
High net worth divorce lawyers frequently address valuation issues involving investments and family shares in business interests. In a divorce, there may be questions about what money was earned during the marriage and is community property versus separate property. Complex calculations and valuations are often accomplished by your divorce lawyer hiring business and divorce financial professionals.
Hidden assets may be traced by a legal investigator trained in high net worth divorce asset issues. In some cases, the assets could be at risk of transfer or disposal and a restraining order might be needed to prevent disturbance to assets. Safe deposit boxes and their content alone can be the subject of contested litigation.
Child Support & Spousal Maintenance
In a high net worth divorce case, financial issues involving child support and spousal maintenance can involve the exceptions to general Texas family law rules. For example, in Texas there is a maximum cap on guideline child support. There is a limited exception where the court can order additional support for the proven needs of a child, which may be involved in cases where a child might have a limiting disability.
Spousal maintenance can be ordered in marriages of ten years or more and are absolutely limited by the Texas Family Code to 20% of the paying spouses average monthly gross income or $5,000, whichever is less. The maximum duration of spousal maintenance is 10 years for marriages of 30 years or more. Shorter marriages have shorter durations of payments if they are ordered.
Mediation & Litigation
An experienced high net worth lawyer can evaluate complex divorce issues and work with their client on a strategy that makes the most sense and considers the client’s bottom line. While some issues can be settled in mediation, others may require a trial to a judge or jury. During the discovery process where the parties in the divorce exchange income and asset information there may be questions about certain asset valuations and other assets that seem to be missing from discovery disclosures. It is important to hire a divorce and family law attorney who knows how to untangle a web of complex issues.
For information about Texas divorce and family law please call Attorney Richard T. Sutherland in Wichita Falls, Texas by dialing (940) 691-2100.
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