Modjarrad and Abusaad Law Firm - Full Service Dallas Law Firm
Dallas Diovorce Attorneys
Dallas Contested Divorce Attorneys
Dallas Uncontested Divorce Lawyers
Dallas Child Support Lawyers
Dallas Parental Rights Attorneys

HIGH ASSET DIVORCES OF BILLIONAIRES

DALLAS DIVORCE ATTORNEYS

According to the latest list of world’s richest by Forbes Magazines, there are several billionaires who have experienced high asset divorces in their lives. The list also includes a few names with more than 1 divorces in their lifetime. Here is the list of billionaires and their divorce history:

  • CEO of Oracle Corporation, Larry Ellison with 4 divorces in his lifetime
  • Heiress to Wal-Mart fortune, Alice Walton with 2 divorces
  • Heir to Wal-Mart fortune, S. Robson Walton with 1 divorce 2000
  • New York City Mayor, Michael Bloomberg with 1 divorce in 1993
  • Heir to Mars Candy Company, Forrest Mars, Jr. with a divorce in 2010 from his second wife
  • Heiress to Mars Candy Company, Jaqueline Mars, with 2 divorces
  • Investment Banker, George Soros with 2 divorces
  • Chairman of Irvine Company, Donald Bren, with 2 divorces
  • Self-made billionaire, Ronald Perelman with 4 divorces

High Asset Divorce cases differ from regular divorce cases in a way that they involve higher stakes, namely in terms of the net worth of shared money and assets. As with any divorce case, high asset divorces are concerned with reconciling and appropriately dividing the couple’s shared assets. However, while many divorce cases involve the division of commonplace assets, high value divorces usually involve assets of greater magnitude. Some of these assets may include high-value property (homes, land, cars, and jewelry), business valuation (when both parties share ownership interests in a business in terms of real properties, investment properties, rental properties, stocks, bonds, mutual funds, or equity), tax implications (the more money and valuable assets are involved, the greater the taxes that must be paid for them), and inheritance (division of wills, trusts, and estates).

TEXAS FAMILY LAWS ABOUT HIGH ASSET DIVORCES

In the “Family Code” section of Texas State Law, there is an established procedure regarding suits for the dissolution of marriage involving the division of the estate of the parties. The value of each party’s assets and the value of the community estate’s assets are the main factors that determine how a couple’s assets will be divided upon divorce. As established by the Texas’ community property laws, it is assumed by the court that the estate should be divided in an equal and just manner. In other words, half of everything earned or bought during the marriage belongs to each spouse, according to the court.

COMPLICATIONS INVOLVED WITH HIGH-ASSET DIVORCES

Divorce cases involving high assets should require thorough assessment of the marital estate, or assets that are acquired by both parties during the marriage. By understanding the collective net worth of assets, a more equitable resolution of the division of these assets may be more efficiently reached. While it is the job of the divorce attorney in accordance with the law to make these assessments, appraisers and financial advisors may be consulted when dealing with cases of such magnitude.

OUR DIVORCE ATTORNEYS ARE HERE TO HELP

With a combined experience of more than 20 years, our Dallas divorce attorneys have knowledge and expertise of handling divorce cases involving marital assets, businesses, outstanding taxes, and inheritance. As a full service law firm, our attorneys not only understand the complications involved in family law, but also understand the legal aspects involving business, finances, taxations, assets, and inheritance. Our attorneys for business law and family law work together to provide you the dedicated and knowledgeable service that you high asset divorce case needs. Our attorneys are available for a FREE CONSULTATION to talk about your case. You can schedule a FREE CONSULTATION by calling 972.789.1664, emailing contact@dallasarealaw.com, or filling out the form on top of this page. We look forward to providing you a dedicated legal service for your divorce.

 

Meet our Divorce Attorneys

 

 



   Divorce Topics

»  Post Divorce Modifications

»  COBRA Benefits

»  Filing a Divorce in an Abusive Relationship

»  Filing a Divorce in Dallas

»  Dallas County Divorce

»  Divorce Lawyers in Plano

»  Filing a Divorce in Irving

»  Divorce Law Firm in Dallas

»  Divorce in Dallas

»  Filing a Divorce in Richardson

»  Filing a Divorce in Garland