High-Asset Divorce Attorney in Flower Mound
Representing High Net Worth Divorce Clients
Most people who have been through a divorce will recommend that you retain the services of a professional attorney when going through a typical divorce. When it comes to a high-asset divorce – sometimes called a high net worth divorce – not just any lawyer will do. With so many assets on the line, you should not risk it with unproven or unqualified legal counsel.
Phillip M. Herr, Attorney at Law, has been helping families through complex, high-stakes divorces for more than 15 years. He is a Flower Mound divorce attorney who is recognized throughout the region for providing honest, clear advice and counsel that steers clients toward success.
Contact Law Office of Phillip M. Herr, PLLC today to learn more about how Phillip M. Herr can effectively represent you in your divorce. Call 469-423-5663 now.
Property & Monetary Concerns in High-Asset Divorce
People going through a high-asset divorce are often understandably concerned about what is going to happen to their future and their finances. The spouse who was the primary breadwinner may be worried that the court will order them to pay extravagant amounts of alimony just because they are well-off. A spouse who did not contribute financially to the marriage could be afraid that property division will leave them with next to nothing, significantly impacting their standard of living.
There are two types of property to consider in a high-asset divorce:
- Community property: Assets accrued during the marriage and that were shared by both spouses. Texas divorce courts will assume that all property is community property unless proven otherwise.
- Separate property: Assets that only belong to one spouse due to one spouse owning it before the marriage became official, or due to one spouse being gifted it directly through inheritance. The court will need to be shown reasonable proof that an item is separate property.
Phillip M. Herr, who is a Flower Mound high-asset divorce attorney, understands the complications that high net worth clients face when dividing property and ensuring a fair settlement.
When dividing property, high net worth clients shoulder consider:
- Stocks, bonds, and securities
- Real estate property
- Retirement accounts
- Investment accounts of high value
Evaluating Your Business
Many people going through a high-asset divorce in Flower Mound have made considerable fortunes through entrepreneurial ventures and growing their private business. Losing a portion of control due to a divorce’s property division process can be devastating to a business owner who has put time, money, and energy into that company. It is critical to have your business appraised during your divorce so that you know how much it is worth and what you are fighting to keep.
Seek Trusted Support at the Law Office of Phillip M. Herr, PLLC
If you want to protect your assets and your future throughout your divorce proceeding, it never hurts to have a professional in your corner. Phillip M. Herr, Attorney at Law, can handle the legal aspects of your case, no matter how intricate it may seem. If necessary, he can talk to you about consulting financial appraisers and accountants to help evaluate your assets, giving you a better chance at a fair distribution.