Steps to protect your privacy during divorce

Nick Augustine Divorce

Steps to protect your privacy during divorce

Not announcing a divorce is the first step to take to protect your privacy during divorce. When some people tell others that they are getting a divorce, the response is to offer help, which is positive and helpful. In conversations about the divorce the children often become the focus of the conversation. Not everyone wants to have that conversation.

An incentive for protecting your privacy is preventing an Internet search history. Social media can be detrimental when you do not have ultimate control of the information you share about your life. A post about your divorce today, in theory could be searched online by people in the future. Make sure to change your passwords and update your security settings.

Not opening the door to information exposure

What is tied to what you make at issue? First consider that when issues are litigated in court the evidence presented, with possible exceptions, becomes public record to which anyone can gain access. For example, if small business ownership issues are litigated, sensitive business information can become public record.

Settling issues out of court prevents a record and present-day compromises may be in the best interests of anyone with business owner interests. Keeping certain issues out of court can also prevent people you know from being deposed or called to testify in your case.

Protect your privacy during divorce
Protect your privacy during divorce

Best steps at safeguarding personal information

Mediating or agreeing to settle issues you prefer to keep out of court helps protect your privacy during divorce. During the discovery phase of the divorce when information is exchanged among the parties and their lawyers, certain issues in the case can be settled by agreement instead of being litigated in open court, helping you keep financial and asset ownership information private.

In addition to privacy concerns about financial matters, many people go to lengths to prevent others from knowing they are in a divorce. Keeping your divorce a private matter until it is concluded can be a preference. Consider how people can react to information, hearing you are in a divorce, versus you recently were divorced.

For information about Texas divorce and family law please call Attorney Richard T. Sutherland in Wichita Falls, Texas by dialing (940) 691-2100.

You can follow Attorney Richard T. Sutherland on social media and find useful articles and resources for you and your family. Richard Sutherland is on Facebook, Twitter and LinkedIn. For a virtual library of blog articles and podcast interviews about Texas divorce and family law please visit WichitaFallsFamilyLaw.com.

Richard T. Sutherland represents people and families in Wichita County, Archer County, Baylor County, Clay County, Foard County, Hardeman County, Jack County, Montague County, Wise County, Young County and Wilbarger Counties in North Texas and has accepted cases in other areas West, North-Central and in South Texas.

Divorce and the family business

Nick Augustine Divorce

Divorce and the family business

Divorce and the family business interests can become complicated, especially when spouses are both shareholders. In a Texas divorce, the court applies statutory rules regarding the process of determining what property and assets are classified as community or separate property for purposes of distribution in the divorce. See our article and podcast about Community Property for more information.

In the Wichita Falls area there are many small businesses owned by families and it is common for siblings and other family members to own shares. How shares are owned and what rights and duties are attributed to the shareholders may depend on the family business bylaws and other legal documents and operations. A well-written shareholders agreement should address spouses and what may happen in the event of death or divorce.

Does your spouse own equal shares?

If you and your spouse own equal shares in the business and you divorce, there may be unanticipated outcomes. Many of us assume our spouse will not be interested in the shares of a small family business, especially where those shares are not worth as much as cash in hand in lieu of the shares.

The failure in logic may be the assumption the spouse wants out of all aspects of you and your life. A scorned spouse with a legal right to retain their shares in the business can make your life difficult for years to come.

The jilted spouse may feel less awkward about sticking around when it comes time to vote on something like the payment of dividends. Where it had never been a problem before the divorce, your ex may be one of the deciding votes not to pay dividends, for example.

Why buying your spouse’s shares over their value makes sense.

To prevent your former spouse from sitting next to you at the board of directors table, you might want make an attractive offer they cannot refuse. If at first you offer a fair price for their shares and they refuse, increase your offer.

Even if you feel as if you are coming out on the short end of the stick and are overpaying for what you already consider overvalued shares, the peace of mind and future security in the family business can be worth your cost in the divorce.

In divorce cases involving family businesses there are a variety of ways shares are held. How you received your shares has much to do with whether your spouse will have a claim to part of the business.

Divorce and the family business
Richard Sutherland Attorney at Law Family Law Practice Areas Including High Net Worth Divorce and Divorce and the Family Business.

For information about Texas divorce and family law please call Attorney Richard T. Sutherland in Wichita Falls, Texas by dialing (940) 691-2100.

You can follow Attorney Richard T. Sutherland on social media and find useful articles and resources for you and your family. Richard Sutherland is on Facebook, Twitter and LinkedIn. For a virtual library of blog articles and podcast interviews about Texas divorce and family law please visit WichitaFallsFamilyLaw.com.

Richard T. Sutherland represents people and families in Wichita County, Archer County, Baylor County, Clay County, Foard County, Hardeman County, Jack County, Montague County, Wise County, Young County and Wilbarger Counties in North Texas and has accepted cases in other areas West, North-Central and in South Texas.

High net worth divorce

Nick Augustine Child Support, Divorce

High Net Worth Divorce

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.

Complex Finances

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.

Family Law, Divorce, Child Custody, Habeas Corpus, Modifications, Enforcements, Interstate Family Law, Pre & Post Marital Agreements, Child Support, Interstate Family Support, High Net Worth Divorce in Texas
Richard Sutherland Attorney at Law Family Law Practice Areas Including High Net Worth Divorce

For information about Texas divorce and family law please call Attorney Richard T. Sutherland in Wichita Falls, Texas by dialing (940) 691-2100.

You can follow Attorney Richard T. Sutherland on social media and find useful articles and resources for you and your family. Richard Sutherland is on Facebook, Twitter and LinkedIn. For a virtual library of blog articles and podcast interviews about Texas divorce and family law please visit WichitaFallsFamilyLaw.com.

Richard T. Sutherland represents people and families in Wichita County, Archer County, Baylor County, Clay County, Foard County, Hardeman County, Jack County, Montague County, Wise County, Young County and Wilbarger Counties in North Texas and has accepted cases in other areas West, North-Central and in South Texas.