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Texas Family Law


High Net Worth & Complex Property Division

Complex Property Division In Texas Divorce Cases

Legal Help With Division Of Assets, Pensions, Businesses And Property

Every divorce involves the division of marital assets and debts.

If the marriage was short or the couple has few assets and even fewer debts, the process of dividing marital property can be relatively simple. The parties retain what they brought with them into the marriage and divide the debt. If emotions aren’t running high, this can be completed quickly and the couple can proceed with an uncontested divorce.

For some couples, especially those with complex estates, property division in Texas divorce cases can be much far more complicated. The Fort Worth divorce lawyers at Johnson McNulty work with financial advisors to help us properly value assets and determine effective wealth retention strategy that minimize tax consequences.

  • Retirement Accounts – A 401(k) is simple to divide; a pension is more complicated. It may require a special document, called a QDRO, in order to do it properly. If part of the pension was earned before marriage and part after – and then each part gathered interest over time – only the portion earned during the marriage need be divided. Your divorce attorney will work with a financial expert to iron out the details.
  • Military Pensions – The Uniform Services Former Spouses Protection Act allows divorcing couples to divide a military pension using one of four different methods: a coverture fraction formula, a specific dollar amount, a current percentage, and a deferred percentage. The method chosen can have a significant effect on the amount of money a spouse can receive. Your lawyer will explain the impact of the choices available to you.
  • Real Estate – There are a number of things to consider when dividing real estate (a home, vacation home, piece of land or business property). Did one partner own it before the marriage? Did it become marital property after the marriage, or can a case be made that it stayed separate property? What is the true value of the property today? Your divorce lawyer may consult with a real estate expert to ensure an accurate valuation.
  • Valuable Personal Property – In general, each party keeps his/her own personal property but a case can be made that if a particular piece of property has been used by the couple, it may have been converted to a “marital” asset rather than an individual asset. When you come in to meet with your lawyer, be sure to catalog any property that you have questions about.

Divorce And A Texas Business

It surprises many small business owners to discover that a business started while one is married is considered community property even if other partner hasn’t been active in managing the business. This applies to business partnerships as well. While the spouse may not have a direct equity interest, he or she is entitled to half of the spouse’s equity interest.

In the case of a divorce involving a business, the decisions that need to be made involve the following:

  • Properly valuing the business, which will require a business valuation expert
  • Deciding whether both parties will retain their interest (operate it together or continue a financial interest) or whether the business will stay with only one partner
  • Deciding whether to buy out one spouse’s interest or continue forward with each spouse having a defined financial interest.

If the parties come to our firm with an agreement already in mind, we will review your proposed agreement to determine if all assets have been properly valued and all issues properly considered. If we believe something has been overlooked, we’ll advise you on how you can handle that issue, and we’ll connect you to a financial expert who specializes in that issue.

In complex property division cases, you’ll find peace of mind working with the divorce attorneys at Johnson McNulty. We’re ready to tackle complex cases and come prepared with the resources you need to make sure the task is done right. Call our law office to schedule a consultation at the office nearest to you (Ft Worth): 817-576-6537.

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Based on 23 reviews
Megan Williams
Megan Williams
I can’t say thank you to Jeff, Chloe, and Lupe at Johnson, Loyd & Schmitz, PLLC enough. Jeff’s skillful practice in the courtroom, cognizant strategies to decrease financial burdens, and everyone’s time and diligence in preparation have been amazing. They always answer phone calls and emails with a quick and knowledgeable response. The whole office has been very kind and empathetic towards me despite my sometimes exhausted and emotionally wrecked communications. The whole group shows that they truly care and fight for their families. I can’t recommend this group enough. So very thankful for them!!
Miss Muggwamp
Miss Muggwamp
Easy location to find. Very friendly & helpful. Great attorneys especially D. Wright. Ive known him for over 20 years He has the experience you need for all areas of laws – civil, probate and family. He and the other attorneys plus support staff we’re very sympathetic while assisting me in probating my parents estate.
Dwayne Belkowski
Dwayne Belkowski
Best attorneys in town for Family law. Highly recommend.
Larry Wuzhere
Larry Wuzhere
A few months ago I found myself to be a target of the one of the most oppressive and powerful entities in the Texas government- The Office of the Attorney General- Child Support Division. This out of control entity has little to no oversight and is empowered to wreck lives with NO REPERCUSSIONS. I tried to find someone in the OAG management to help correct the situation but that only escalated the attack against me and my livelihood. They seized my bank accounts and and placed liens against my property. Fortunately for me I turned to the law firm of Johnson, Loyd and Schmitz. Mr. Johnson put together a legal plan of action and moved quickly to provide relief to my situation. I put my trust and future into his hands, and just as David slew the Mighty giant Goliath-so Mr Johnson brought the mighty Office of the Attorney General to its knees. My life and property are now secure from improper confiscation and harassment from this entity. Thank you Mr Johnson you were truly a God send when my future was bleak at best. A grateful client, Larry Morris
Virgil Martinez
Virgil Martinez
I recently was looking for a family law attorney and sent in a request for consultation with Johnson, Loyd, & Schmitz. I was contacted by Jeff who was amazing. He wasn’t pushy and he was extremely personable. He guided me and gave me the advice I needed. I would recommend anyone to call on this team if they are in need of legal services. Thank you guys and if I need any legal services again I will be coming back!

* Johnson Loyd & Schmitz was a previous law firm that is now Johnson McNulty, Attorneys At Law.