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High-end divorce in Texas

On Behalf of | Dec 27, 2021 | Family Law & Divorce

High asset divorce is a term used for divorces involving the highly valued property. With marriages dealing with multiple homes, businesses or assets such as art, divorce is a tricky proposition.

Texas is a community property state. This means that any assets acquired during a marriage can fall under the marital property to share equally. However, this does not mean the process is perfect.

Proving separate property

If a spouse wants to prove something is not community property, they must present a title that shows they acquired the asset before marriage. Also, the nature of the property must prove particular to the individual. Any high-value asset obtained during the marriage is automatically considered community property. This means the burden of proof is on the individual to show they have a specific interest in an asset that does not pertain to the other spouse. Consult with your attorney if you want to prove an asset is separate property and not subject to equal division.

Pre-marital agreements

Individuals with high assets going into marriage might want to consider writing a pre and post-marriage agreement. This can protect you from losing your property in the event of a divorce. For instance, if you have a business, you might want to agree with your spouse that it is separate and not communal. If you do not make such an agreement, your attorney needs to find documentation proving the asset belongs solely to you.

Ending a marriage with valuable assets makes the process much more difficult. Understand that you will likely lose half of what the court considers community property. Work with an attorney to help separate your assets and keep more of what you own.