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TX divorce lawyerWhether an agreement is reached in an out-of-court setting through negotiation, or as the result of litigation and a court order, the terms of any finalized divorce decree must be followed. Unfortunately, it is not uncommon for one of the parties to refuse to comply with certain terms, especially in regards to property division. In these situations, courts can step in and enforce a property settlement following divorce, so if your former spouse is refusing to comply with a court order by failing to turn over certain assets, it is critical to retain an experienced high asset divorce attorney who can help you seek a request for relief from the court.

Enforcing a Temporary Property Division Order

During many divorces, the parties are required to address temporary property-related issues while the divorce is pending, such as: who will retain the family home, who will be responsible for paying certain bills and expenses, and who will cover debts, such as loans, credit cards, and lease payments. To address these matters, a court may issue a temporary order that has some or all of the following effects:

  • Restrains one spouse from damaging or selling certain property;
  • Requires an inventory and appraisal of all community and separate property;
  • Prohibits the parties from wasting marital assets; and
  • Assigns responsibility for certain household expenses and childcare costs.

These temporary orders play a critical role in helping spouses resolve certain issues during divorce, but also provide the grounds for an enforcement action if one spouse fails to comply with the terms. Temporary orders are as legally binding as final orders, so when one party fails to abide by their terms, the court can intervene by transferring liability, ordering eviction, foreclosure, or wage garnishment, or holding the non-compliant party in contempt.

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Cedar Park complex divorce attorney, complex litigation, high-asset divorce, high-asset divorce attorney, divorce negotiations, complex divorce negotiations, complex custodyThere are many decisions that need to be made when going through a high-asset divorce. Various key issues that divorcing couples face include child custody and support, property and asset division, and spousal support. In addition, even the most "friendly" divorces can suddenly turn contentious when one of these high-priority issues reveal a couple is on opposite ends of the agreement spectrum. Hence, it is critical to consult an aggressive attorney who is experienced in complex divorces.

It is also critical to communicate clearly with your high-asset divorce attorney. He or she is there to represent you, so it is important to articulate your exact wishes. Make sure your attorney is aware of what you feel is appropriate when it comes to equitable distribution of a marital estate and spousal support. Also, it is okay to say "no" to a suggestion your attorney makes, after carefully considering what he or she suggests. Share your reasons why you feel the suggestion is not the right course of action for you. But remember, the whole key to negotiating is that you often have to give up something in order to receive something else you want more.

With that said, there are also instances where it is okay to hold your ground and not back down to what you feel is best for you or your family.

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complex divorce, complex divorce negotiations, financial assets, Round Rock complex divorce attorney, asset value, high financial assets, complex property litigation, divorce settlement, complex divorce settlementsWhen a couple is involved in a complex divorce, there are usually a number of financial assets that need to be divided up between the two. However, financial advisors recommend that people who are involved in high asset divorces really examine the actual worth of the asset they are fighting for or willing to concede to the other party during negotiations.

The value of an asset may change when it comes to liquidating that asset, depending on tax liabilities and/or depreciation values. For example, if a couple owns a home that has $1 million in equity and they also have a 401(k) account that is worth $1 million, the actual long-term value of those two assets is different.

The spouse who gets the house will have what the IRS refers to as a "gain exclusion," meaning that if the spouse sells the house, a portion of the profit will be exempt from capital gains tax. But there is no exclusion for the spouse who gets the 401(k) account. If the spouse liquefies the account, he or she could owe up to one third of it in taxes.

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