Tessmer Law Firm, Author at Tessmer Law Firm - Page 13 of 30
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Author: Tessmer Law Firm

Yes, you could, but any divorce lawyer worth his salt will advise you against it. If there is abuse happening, then of course immediate action is necessary. However, clients usually feel this way for other reasons. Sometimes they just cannot stand their spouse any longer and want out of the marriage. Sometimes they have fallen in love with someone else and want an immediate divorce so they can start their new life.  Agreeing to a division of marital assets and liabilities, spousal maintenance, child support, visitation, etc. just to “get it over with” can have devastating financial effects in a...

Simply put, a business valuation is the process of determining how much a business is worth. This is necessary in the event of a divorce – high net worth or otherwise – because if the business is community property, it must be sold and divided equitably or one spouse must buy out the other’s share. A buy-out can be done with cash or the exchange of an equitable amount of marital property, but without a proper valuation of the business, one spouse stands to lose. A business valuation will generally take into account things like revenue and expenses, the value...

A high asset divorce can be among the most complex family law matters, so it is important that knowledgeable and qualified experts are consulted to protect your assets, interests and rights. Forensic accountants, professional appraisers, financial and wealth managers, tax consultants, pension valuation experts and business evaluators are just some of the qualified professionals that your attorney could bring in to help with your case....

In Texas, alimony is called spousal maintenance, and it is never guaranteed. The spouse who is seeking support must show that he or she lacks sufficient resources to provide for his or her minimal, reasonable needs. He or she must show that employment is difficult to maintain or is not possible due to a physical or mental disability. Spousal maintenance may be ordered if there is a disabled child in the home that prevents the spouse from being employed, or if the spouse clearly lacks ability to be in the workplace.  The factors that determine eligibility for spousal maintenance are...

“Discovery” is the term for the exchange of information between parties involved in a legal matter. Even though completing discovery adds to the expense of a case, it is important because it often turns up facts that were previously unknown to at least one party. In a high asset divorce, a proper reporting of all assets and liabilities is necessary to ensure you are not left holding onto liabilities that should not be yours, or giving up assets that you are not obligated to let go. When a married couple has a great deal of wealth, one of the parties...

Just like physicians, attorneys specialize in different areas of practice where it pertains to the law. An attorney who specializes in criminal matters may not be the best choice for a family law matter, and vice versa. An experienced divorce attorney will have knowledge about asset protection and the issues that are likely to be important in your situation, such as child and spousal support and division of marital property. Sometimes clients believe that the best lawyer is one that is “tough” or “ruthless”. The truth is, your lawyer is your advocate and is hired to represent you to the...

Certain issues are more likely to present themselves in a divorce that is dealing with a large marital estate, such as: Business valuations; Determining the worth of assets such as stock options, art or antiques; Division of a business or professional practice; Division of investments and retirement plans; Tax implications and property settlements; Accurately accounting for and exposing any hidden income or diverted assets; and Evaluating standards of living to determine child and/or spousal support. ...

Generally, a high asset or high net worth divorce means exactly that: one or both parties have a net worth over a certain threshold. The exact figure varies with opinion, but for us it is one million dollars ($1,000,000.00). This figure can consist of the total worth of several different things: cash, investments, property, businesses, or other assets....

What is a high asset divorce? Isn’t it the same as a regular divorce?   A high asset divorce is just like any divorce in many ways. No divorce is pleasant, regardless of the terms or circumstances. No matter the amount of assets, in a divorce they still must be equitably split. If there are children, arrangements for custody, visitation and child support must still be made. In any divorce, couples find that they agree on some things, but not on others. Consulting an attorney is well worth the time. Good legal advice pays for itself many times over. In a high...

The severity of a child’s disabilities can vary greatly. In some cases, the child’s disabilities are so extreme that there will be no debate, even if the child is still very young, about the continuing need for support after the child becomes an adult. In that event, child support is likely to be ordered to continue indefinitely. It will be up to the obligor to seek a court order terminating support in the event the child/adult becomes capable of self-support.   However, it is not always possible to determine whether the child will need support beyond the completion of high school. If...