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TX high asset divorcePreparing for an imminent divorce in Texas is difficult under any circumstances. Whether you are planning to file but want to make sure you are the one who serves your spouse with papers, or you have recently been served with a divorce petition, getting ready for a divorce can be extremely stressful. High asset divorces in Texas make preparation for a divorce even more complicated given the value and complexity of many assets that will be classified as community property under Texas law. When an Austin high net worth divorce is imminent, you should begin taking steps to ensure that you have the best chance of reaching a divorce resolution that is right for you. The following are tips for preparing for an imminent high asset divorce. If you have additional questions or need assistance, you should reach out to an experienced Texas high net worth divorce lawyer as soon as possible for legal advice.

Find an Attorney with Experience Handling High Net Worth Divorces in Texas

It is incredibly important to have a lawyer with experience representing Texas clients in high asset divorce cases. While you might think that any well-reviewed divorce attorney can handle your case, it is in your best interest to hire a high asset divorce lawyer who knows how to effectively represent clients in your position. High net worth divorces can have a variety of complex and contentious issues, and you will want to have an advocate on your side who knows what to do.

Learn About Appraisers and How They Can Help with Asset Valuation

Now is the time to begin learning about appraisers and how an appraiser can help you to obtain fair valuations for assets that will likely be classified as community property. You should not rely on your spouse to hire an appraiser. To be sure, you will want to work with an appraiser who is clearly a neutral party and will not give a biased valuation of certain tangible property.

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TX divorce lawyerHigh asset divorces in Texas are different from other types of divorces. These divorces often involve complex property division and complicated valuations of community property. Since all community property is divisible under Texas law, it is essential that high-value assets be appraised accurately. Beyond complex property division matters, high asset divorces can also be much more complicated in terms of spousal maintenance issues, as well as matters pertaining to child support and even child custody. Given that high asset divorces are so complicated, it is easy to make mistakes if you do not work with an experienced attorney. Those mistakes can cause problems in your divorce case and can, in some situations, be irreparable.

An aggressive Texas high asset divorce lawyer at Powers and Kerr, PLLC can begin working on your case today. In the meantime, the following is a list of common mistakes you should avoid in an Austin high net worth divorce.

Failing to Work with an Expert Appraiser

In a high asset divorce, it is essential to work with an appraiser who can provide an accurate and fair valuation of your valuable property. If you fail to work with an expert appraiser, the court may value property in ways that do not take into account the unique aspects of the property, or your spouse’s valuation may be the sole evidence that the court uses to place a value on the property. You should work with your lawyer to hire an appraiser who has experience providing market and insurance valuations of the particular kinds of property that will be classified as community property in your divorce.

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college tuition in child custody agreement, Texas high-asset divorce attorney, Texas complex litigation lawyer,With tassels turning on mortarboards throughout Central Texas, this question is a popular one in divorced families throughout the area. While the short answer is "no, unless the child is still in high school or is disabled" there are some nuances in child support law that both parents should be aware of.

The Law

There is some basis for a post-majority support claim to pay for college expenses. Section 154.123(9) allows the judge to consider "the expenses for a son or daughter for education beyond secondary school" when setting the amount. Forward-thinking parents can use this provision to increase the amount of regular support for minor children by a few dollars a month, and require the obligee parent to set those funds aside exclusively for post-secondary expenses.

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