Experienced Complex Property Division Attorneys in Texas
Securing What Is Important for Your Future
Some divorces require the division of marital debts and assets and divorce may become more involved and require specialized knowledge when a marital estate has complex property issues. The division of complex property in Texas may seem complicated, but the right legal team can work through its intricacies and keep it from being overwhelming. When you work with the experienced divorced attorneys at Goranson Bain Ausley, we’ll use a strategic, constructive, and intelligent approach to help you divide assets effectively and efficiently. With a skilled Texas complex property lawyer on your side, you can secure what’s important for your future.
Goranson Bain Ausley has managed some of the most complicated divorces in Texas, including those of business owners, high-profile executives, celebrities and professional athletes and their spouses. Our Austin, Dallas, Fort Worth, Granbury, and Plano family lawyers know the law well in complex property matters. Equally important, we know when to engage independent experts in finance and accounting to investigate questions and strengthen your case.
We understand that property often represents the fruits of lifelong achievement and has a wealth of meaning in divorce cases in Texas. A complex property attorney from our firm can help manage property division respectfully and conscientiously, not only to secure assets for your future but also to preserve what is most of value to you. Contact us for more information today.
What Makes a Marital Estate Complex?
Complex property division may include business valuation issues, characterization of separate and community property, commingled property, appreciation of separate property, tracing of assets, closely held business interests, trust matters, employment benefits, and tax issues, among other concerns.
How is Complex Property Divided During a Divorce in Texas?
Under the Texas Family Code, all property owned during the marriage is presumed to be the community property of the parties and subject to division upon divorce. However, this presumption is rebuttable by showing evidence that certain assets are the separate property of one of the spouses. Separate property is property that was owned by a spouse prior to the marriage or received in a gift or bequest. Community property gets divided, whereas separate property is “off the table” for division and remains with the party who owns it.
Is it Difficult to Prove Separate Property?
The spouse claiming property as separate has the burden to prove its separate nature. Otherwise, the property will be deemed to be community and will be subject to a just and right division. Defining an asset as community or separate property is called characterization.
The standard for proving that an asset is separate property is clear and convincing evidence. It is not a preponderance of the evidence, where one side must tip the scales of evidence just slightly in their favor. It is also not proof beyond a reasonable doubt, like one might expect in a criminal trial. It is, however, a heightened subjective standard.
What Documents Do I Need to Prove Separate Property?
The key to proving separate property is documentation, a paper trail that can trace your separate property. Tracing is the method used when your original separate property has changed form, been exchanged, or been sold during your marriage, resulting in you owning different property at the time of divorce.
What is a Tracing Expert? Do I need one?
Although the idea of tracing is straightforward, the tracing process can be complex, depending on a variety of factors, such as the number of exchanges, type of exchanges, length of the marriage, available documentary evidence, commingling of separate and community property, and the type of asset. There are also different methods employed by practitioners used to trace assets. Depending on the property at issue, it can be necessary for a complex property attorney in Texas to employ a forensic CPA who can trace the property, create a tracing report, and testify at trial, if necessary.
Do Complex Property Divorces Always Go to Court?
No. A high percentage of divorce cases are settled either in mediation or prior to mediation, and this includes complex property divorce cases. There are many reasons for parties to negotiate a settlement rather than having the judge make the decisions for them. No matter how complicated a divorce is, if both parties are willing to work together, they can keep the divorce out of the courtroom. Each complex property attorney in TX at Goranson Bain Ausley strives to negotiate and settle cases in order to save our clients the time and money of going to court. If two reasonable, experienced lawyers represent each side, there’s a good chance that each party will walk away with an acceptable settlement without ever stepping inside a courtroom.
Why is it Important to Work with a Divorce Attorney Skilled in Complex Property Division?
A talented complex property attorney in Texas will listen carefully to you to understand your goals, priorities, and concerns. They will assist you in identifying the issues and educate you on how to make informed decisions so you can successfully move forward after divorce. In addition, a TX complex property lawyer who has experience in handling complicated property matters can offer the resources of other experts critical to an advantageous outcome, including business valuation experts, financial professionals to assist in characterizing and tracing assets, and auditors to verify financial records and information.
Work with Our Experienced Complex Property Division Attorneys in Texas
Choosing the lawyers of Goranson Bain Ausley is the first step in simplifying complex property division. Over the years, we have managed some of the most complicated divorces in Texas, including those of business owners, high-profile executives, celebrities, professional athletes, and their spouses. Our Austin, Dallas, Fort Worth, Granbury, and Plano family lawyers know the law well in complex property matters. Equally important, they know when to engage independent experts in finance and accounting to investigate questions and strengthen your case. We understand that property often represents the fruits of lifelong achievement and has a wealth of meaning in divorce cases. We manage property division respectfully and conscientiously, not only to secure assets for your future but also to preserve what is most of value to you. Contact us for more information.