When divorce becomes a part of your reality, protecting your family’s financial future is as important as healing your emotional well-being. In North Texas, where high-net-worth individuals often hold a mix of traditional and modern assets, it’s crucial to understand what’s on the line and find ways to safeguard it.

Whether you’re the primary breadwinner or the primary caregiver, or whether you are a solo business owner or a dedicated long-term employee, this isn’t just about dollars and cents. It’s about taking control of your wealth, your security, and your family’s future. Protecting your family’s assets also involves protecting your future opportunities, not only for you but for your children. You may question whether you are doing the right thing, or taking the right steps to craft a future of financial security.

We’re here to offer some advice to protect your assets — Texas style.

🏠 Real Estate & Marital Property

From luxury homes in Lake Highlands, Preston Hollow or Highland Park to investment properties in Plano or Frisco, real estate is often one of the most valuable (and emotionally charged) assets in a divorce. These properties not only represent financial security they can often be tied to our memories and provide a sense of familial security. Knowing how to navigate handling these assets while honoring our feelings about them can feel like an overwhelming tug of war. But starting from a place of facts and objectivity can help us make the best decisions moving forward.

What to Know in Texas:

Texas is a community property state, which means any property acquired during the marriage is presumed to be jointly owned—even if it’s only in one spouse’s name. Conversely, separate property (assets owned before marriage or acquired by gift/inheritance) can remain separately yours if you can prove separate property ownership with clear documentation.

How to Protect Real Estate:

• If you enter a marriage with real estate you already own, it will remain separate property during the marriage unless you decide to make a “gift” of that property to your spouse. However, using community property (e.g., your income) to make mortgage payments or capital improvements can result in a claim for reimbursement, where your separate property estate owes the community property estate.
• In a divorce, if you believe any piece of real estate is your separate property, gather the purchase closing documents, proof of the source of down payment, and mortgage statements showing the account origin of payments . These documents will validate the time of purchase (before marriage) and whether there is likely to be a claim for a community property  reimbursement.
• Regarding community property, it’s a good idea to investigate the likely “value” of the marital residence, to help assess whether keeping it will make financial sense for you.  You can use online resources such as Zillow or Redfin to get a ball park idea of the value.  You can also consult with realtors who know your market to get a comparative market analysis.  Or, you and your spouse may want to agree upon a certified Real Estate Appraiser who will give provide you with a written report and statement of value.  Ultimately, the only certain way to know the value of the property is to sell it, so whether you are keeping it or being bought out, it’s important to know and understand the risks.  Ultimately, evaluating the financial value of the property and the overall benefits of keeping versus selling the property, is something you will need to decide, and having this information is helpful in your assessment.
• Don’t assume that keeping the house is your best financial decision – run the numbers with your attorney and financial advisor. Remain open to the financial possibilities that may allow a fresh start and that make fiscal sense.

💼 Business Interests

North Dallas is home to countless entrepreneurs, consultants, and family business owners. Whether it’s a dental practice, tech startup, medical practice, or law firm, the value of your ownership interest in the business may be subject to division – even if your spouse wasn’t involved in running it. As a professional it is important for you to protect what you’ve built. As a family, you may have a legacy you want to protect and pass on. Regardless, these business endeavors have been helping to grow your wealth and support your family.

How to Protect It:

• Always avoid commingling business and personal funds—it muddies both ownership and a clear assessment of value.
• In a family business, various family members usually contribute to a business’ success in many ways. Having clear operating agreements or partnership contracts can ensure clarity regarding everyone’s role and level of ownership.
• Get a business valuation from a qualified expert. Your spouse’s attorney will likely demand one. Having a non-biased, independent professional determine the worth of your business will give you the information you need to make an objective decision as to its true financial value.
• Refer to your operating agreements or partnership contracts to identify potential transfer of ownership or buyout provisions. Professional practices, such as law firms or medical practices, restrict ownership to licensed professionals.  Even if your profession doesn’t restrict ownership, the operating agreement may.  Factor this into the financial cost of keeping or selling the business.
• Remain objective. When you’ve built a business yourself, emotions can cloud the decision of what to do about “your baby.” Step back and evaluate what will help you enter this next chapter in the way that will best help you accomplish you goals
•  Just because the value of a business interest can be part of the overall community property estate, it doesn’t mean you will have to divest yourself of your business.  It just means you need to know and understand how the valuation may impact the overall division. 

💻 Intellectual Property, Digital Assets (non-currency), & Royalties

In today’s “knowledge economy”, ideas are valuable assets. This can include literary and artistic works, designs, images, brands, logos, inventions, data, etc. If you or your spouse have copyrights, trademarks, patents, royalties, other intellectual property (IP) rights, or even influencer income, those are considered property under Texas law. Protecting IP rights is crucial to protecting your interests and any financial benefits.

How to Protect It:

• First, identify all of the digital assets and intellectual property that is part of your estate.  You don’t want to leave out something of value, that then becomes a valuable undivided asset in the future.  If you’ve been working on a book, or devised a new invention, identify it now and make sure it gets awarded to you. 
• Also, don’t forget to identify your digital assets, such as online libraries (e.g., Kindle, Audible), movies, and music.  You’ve spent time and money collecting these assets – and you want to make sure you retain the rights to enjoy them in the future.
• Understand the different types of proper legal protection available for intellectual property: patents (inventions), copyrights (original authored artistic works), trade secrets (confidential information that gives a company a competitive advantage), or trademarks (brand names, logos, symbols used on goods or services) as soon as possible.
• Document your IP rights. Maintain records showing creation dates, registration of your IP, and income streams.
• Understand how licensing agreements, royalties, and residuals are structured — even post-divorce future income may be divisible with your spouse.
• Consider negotiating a buyout or revenue-sharing arrangement if splitting ownership isn’t feasible.

₿ Cryptocurrency

Crypto currency is no longer a niche income stream – it’s often a significant asset in many modern divorce cases. From Bitcoin and Ethereum to NFTs and online investment portfolios, in our current society digital wealth is real wealth. Making sure that we don’t overlook these forms of currency is very important.

How to Protect It:

• Be transparent. Hiding assets in crypto can backfire legally.
• Consider the tax implications of selling, as sales may result in capital gains taxes. Verify with your tax advisor whether your cryptocurrency should be reported to the IRS. If so, ensure that you do.
• Valuation in such a volatile and fluctuating market can be challenging. Use a forensic accountant with expertise in cryptocurrency to trace wallet activity and values at time of separation and provide guidance about a potential sale.
• Discuss the secure transfer or division options with your divorce attorney—crypto can’t be split like a bank account.

💳 Retirement Accounts & Pensions

Whether or not you directly contributed to a 401(k), pension, or IRA, you may still have a right to a portion of it under Texas law. There are also several considerations when evaluating the value of retirement accounts in your divorce settlement negotiations.

How to Protect It:

• Gather your retirement statements (including past and current employers), and a description of your employment benefits.
• Maintain records as to the value of your retirement accounts at the time of your marriage. Generally, funds contributed to retirement accounts during a marriage are considered community property. Being able to pinpoint a value at the time of marriage will help when distinguishing your separate property retirement funds.
• When negotiating a settlement, compare taxable vs. non-taxable financial accounts to negotiate smartly. Retirement accounts are subject to different tax requirements as well as additional potential penalties for early withdrawals.
• Know your time horizon—some accounts are more liquid or accessible than others. Evaluate how quickly you will need to access those funds.
• For most employer sponsored retirement accounts, a Qualified Domestic Relations Order (QDRO) will be required to divide the account without tax consequences.  Sometimes, IRAs and other types of accounts will also require a QDRO or similar type of Domestic Relations Order.     If you are receiving a portion of your spouse’s 401(k), you may also have the option of taking a one-time penalty free distribution (thought it you will still have to pay taxes).  For some, this is a good option for accessing cash needed to set up a new life post-divorce.
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⛽ Oil, Gas & Mineral Rights

Here in Texas, land isn’t just land — often what lies beneath it can be just as if not more valuable.

What to Know in Texas:

The rights to the valuable resources under the land (e.g., mineral rights) can be severed from the land itself.  Owning mineral rights means that you owe some or all of the different components of “mineral rights” (e.g., rights of access to the minerals, rights to bonus payment for signing a lease, rights to receive delay rentals, rights to receive a royalty payment for depletion of minerals). 

If you (or your spouse) acquired the rights to minerals prior to marriage, or received the rights during the marriage through gift or inheritance, the underlying rights are separate property.  However, the income from these rights that were received during the marriage may have significantly benefitted the community property estate.  Where in most instances, income from separate property is community property, when it comes to mineral rights there are certain payments that retain their separate property character, such as royalty payments.

How to Protect It:

• Locate deeds, titles, lease agreements, and royalty payment statements. It’s important to remember that surface rights and mineral rights are two different things.

• Consider working with an oil and gas attorney or landman familiar with Texas law to confirm ownership and valuation. Commodity prices and market demand heavily influence the value of mineral rights, so the timing of any sale or transfer is important.
• Don’t forget to address future production or royalties in the divorce settlement – be clear when transferring ownership.

🔐 How to Start Protecting Your Assets Today

1. Inventory Everything– Traditional and digital assets, income sources, debts, and separately and jointly owned property. During the legal discovery process receipts matter, so gathering all of the documentation you can is very important to protecting your rights and leveraging negotiations.

2. Avoid Emotional Decisions– Emotions will unavoidably play into every decision we make, but getting tied to a specific outcome, seeking revenge, or wanting to “just be done” can lead to costly mistakes. When things are feeling overwhelming, step back and slow things down while you evaluate pros and cons with a clear head.
3. Think Long-Term– Divorce is a chapter, not the whole story. Plan for your family’s long-term financial future, not just for right now. Creating the best outcome that gives your family opportunities can open up the world to all of you for generations.
4. Get Legal Advice Early– The sooner you understand your rights, the more you are empowered with the knowledge you need to make the right financial decisions for you and your family. You will be able to make confident decisions, knowing you’ve weighed the options and chosen the right path for you.

North Dallas Families Trust Hargrave Family Law

Our skilled team understands the unique financial and lifestyle needs of families in North Dallas – from Dallas neighborhoods such as Preston Hollow, University Park, Highland Park, Lake Highlands, and Lakewood, to Richardson, Plano, McKinney, and our Northern Cities of Frisco, Prosper, Carrollton, and more. We help professionals, business owners, and stay-at-home spouses navigate divorce with clarity, confidence, and compassion. We’re here to help you protect your financial future and keep your family’s best interest at the forefront of your divorce. We’re not just here to help you split up the valuables — we’re here to help you protect your assets.

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