Texas High-Asset Divorce Lawyer
Property division is frequently one of the most challenging matters in a divorce. It is a matter that can easily become complex, and not just in high-asset divorce cases. Fairly standard issues, such as division of retirement accounts and benefits, can be surprisingly complicated. Business asset division is also a fairly common issue that can add a layer of complexity to the process of dividing property during a divorce.
Getting Past the Emotional Component of Property Division
For many people, one factor that makes property division complex is not the monetary value of property, but the emotional value of property. I certainly understand how much certain pieces of property can mean to people, but I also understand the cost of fighting over property. That is why I take great care to educate my clients about the costs and benefits associated with every choice, as well as all available options. When you contact me, attorney Michael Suffness, you will have someone on your side who cares and understands.
Is the Property Subject to Division?
Before the process of dividing property begins, everything must be classified as either community property or separate property. Sometimes, this classification is simple. For example, if you bought and paid for your car prior to getting married, it is separate property and not subject to division. Sometimes, this classification is much more complex. For example, if you bought your car prior to getting married, but made many payments on it after getting married, a portion of it may be separate property and a portion may be community property and subject to division.
This issue may be made more complex, depending on how much the car used in the example is actually worth. I take great care to understand the costs and benefits of everything, including the time and resources required to address valuation of property. I make certain that the steps being taken are realistic and truly in your best interest.