Complex Property Division & High Net-Worth Divorce - Southlake, Texas
Michelle Purvis knowledgeably approaches the complex financial issues presented by high net-worth divorce and works diligently to protect clients’ assets and property rights. Michelle provides the meticulous attention to detail that is required in a high net-worth divorce.
Michelle can help you to identify and protect separate property and to divide community property in a fair and equitable manner. Michelle will zealously advocate for you to protect your interests in retirement and investment accounts, pensions, real estate, business interests, business assets, stocks, stock options, trust assets, and executive compensation packages.
Complex financial issues may require specialized discovery and the use of experts such as forensic accountants, appraisers, business valuation experts, tax professionals, and other financial professionals. Michelle works with respected experts to protect your property rights, businesses, and assets.
Valuation of Assets:
In high net-worth divorce, accurate valuation of assets is essential to achieving a fair and equitable division of marital property. Michelle utilizes appraisers, forensic accountants, business valuation experts, and other financial experts to assist in determining accurate values of property and assets.
Texas law distinguishes between community property and separate property. Community property is all property—other than separate property—acquired by either spouse during the marriage. Separate property is property that was owned prior to marriage; property received during marriage by gift or inheritance; and recovery for personal injuries, except for loss of income during marriage.
Upon divorce, all property belonging to the spouses is presumed to be community property, unless clear and convincing evidence shows that it is a spouse’s separate property. Therefore, when an asset was owned prior to marriage or was received by gift or inheritance, it is especially important to obtain the required evidence to prove the assets is separate property.
If you claim separate property ownership of assets, Michelle will conscientiously work to legally prove that the property is your separate property. Proving the date that a house or land was acquired is generally straightforward and is accomplished through deed records and other related documents. However, with other types of assets such as bank accounts, retirement accounts, and brokerage accounts, many times there will be both separate property and community property portions in the accounts. In this situation, in order to preserve your separate property rights, Michelle will assist you in hiring expert forensic accountants with mastery in “tracing” of separate property interests.
Michelle has significant experience in representing business owners in divorce and understands the work, dedication, and sacrifice necessary to build a business. If you are a business owner, Michelle will strive to assist you in maintaining continuity of business while a divorce is pending and to protect your business interests upon divorce.
In divorce cases involving ownership of a business or professional practice, Michelle utilizes business valuation experts and appraisers to determine the value of business interests, partnership interests, membership interests in Limited Liability Corporations, interests in family-owned companies, and other closely-held business interests. Appraisers provide the necessary proof of the fair market value of business real estate, business property, and business equipment. Forensic accountants determine whether the value of the goodwill of the business is included in the marital estate on divorce. Tax professionals are also consulted when necessary to provide advice regarding tax consequences.
Income-Producing Real Estate:
If you own income-producing real estate, Michelle will work with real-estate appraisers and, when necessary, business valuation experts to achieve an accurate valuation of the property that considers the income produced by the property.
Hidden Assets & Income:
Michelle can assist you in discovering assets and income that your spouse may be hiding during a divorce. Hidden assets and income may be revealed through various discovery methods, depositions, subpoenas, and investigative tools.
A divorce involving high net-worth divorce and complex property division requires experienced and focused attention to detail. Contact Southlake Divorce Attorney, Michelle Purvis, to discuss how your interests can be protected in a complex property division or high net-worth divorce.
Call Today: (817) 809-8199
Southlake, Texas - Divorce, Child Custody, and Family Lawyer
640 N. Carroll Ave., Suite 100, Southlake, Texas 76092
Michelle Purvis Law, PLLC proudly serves the legal needs of clients in the communities of Southlake, Westlake, Grapevine, Keller, Colleyville, Trophy Club, and the surrounding communities and in the Texas counties of Tarrant, Dallas, Denton, Parker, Collin, Hood, Erath, and Palo Pinto.
Legal Disclaimer: The information on this website is for general information purposes only and is not intended to be taken as legal advice for any individual or situation. The information on this website is not intended to create an attorney-client relationship, and viewing or utilizing the contents of this website does not create an attorney-client relationship. An attorney-client relationship is created only by an express, written agreement with Michelle Purvis. Any communication made through this website is not confidential. Materials on this website are provided “as is” and are made without any type of warranty of any kind, including but not limited to warranties of merchantability, fitness for any purpose, or non-infringement.