{"id":2592,"date":"2023-02-13T12:44:07","date_gmt":"2023-02-13T18:44:07","guid":{"rendered":"https:\/\/www.mcclure-lawgroup.com\/blog\/?p=2592"},"modified":"2023-04-19T13:50:41","modified_gmt":"2023-04-19T18:50:41","slug":"the-potential-property-division-issues-that-can-come-up-in-a-texas-high-net-worth-divorce","status":"publish","type":"post","link":"https:\/\/www.mcclure-lawgroup.com\/blog\/the-potential-property-division-issues-that-can-come-up-in-a-texas-high-net-worth-divorce\/","title":{"rendered":"The Potential Property Division Issues That Can Come Up in a Texas High-Net-Worth Divorce"},"content":{"rendered":"

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Texas is one of just a handful of states that follows that \u201ccommunity property\u201d doctrine. Under Texas Family Code \u00a7 3.003<\/a>, all property obtained by either spouse during the marriage is presumed to be community property, meaning both spouses have an equal ownership interest. And while disagreements related to how a couple\u2019s assets are divided are common in all Texas divorces, this is especially the case in high-net-worth divorces.<\/p>\n

WHAT IS A HIGH-NET-WORTH DIVORCE?<\/strong><\/p>\n

While there is no official definition of what constitutes a high-net-worth divorce in Texas, the consensus among Texas divorce attorneys is that any divorce involving liquid assets of $1 million or more is considered a high-net-worth divorce.<\/p>\n

WHAT ISSUES COMMONLY ARISE IN HIGH-NET-WORTH DIVORCES?<\/strong><\/p>\n

High-net-worth divorces can involve all the typical aspects of a divorce, including child custody, child support, division of assets, and spousal support. However, due to the value and complexity of the assets, high-net-worth divorces tend to raise other issues, especially as they relate to property division. For example, a high-net-worth divorce may require the court to determine how the following classes of assets should be distributed:<\/p>\n