Property Division Attorney in Southlake
Serving Clients in Tarrant County
Michelle Purvis knowledgeably approaches the complex financial issues presented by divorce and works diligently to protect clients’ assets and property rights. She provides the meticulous attention to detail that is required in divorce involving the division of property.
Michelle can help you identify and protect separate property and divide community property in a fair and equitable manner.
She is ready to zealously advocate for you to protect your interests in:
- Retirement and investment accounts
- Real estate
- Business interests
- Business assets
- Stocks and stock options
- Trust assets
- 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 divorce, accurate valuation of assets is essential to achieving a fair and equitable division of marital property. Michelle brings in financial experts to assist in determining accurate values of property and assets.
What Is Considered Separate Property?
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 asset is separate property.
If you claim separate property ownership of assets, Michelle can 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 can assist you in hiring expert forensic accountants with mastery in “tracing” of separate property interests.
Michelle has significant experience representing business owners in divorce and understands the work, dedication, and sacrifice necessary to build a business. If you are a business owner, Michelle can 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, property, and equipment. Forensic accountants can 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 can work with real estate appraisers and, when necessary, business valuation experts to achieve an accurate property valuation 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.