High Asset Divorces: Separate Property Real Estate and Trusts

It is important to know what happens to your homestead residence if it was purchased prior to marriage and other assets formed into a trust before marriage without a prenuptial agreement. 

1. Separate property homestead residence

Single most important event for leverage is who files their Divorce Petition first. If you file first, you are a Petitioner. A Petitioner receives a crucial benefit in litigation. A petitioner is afforded the opportunity to talk first and last in litigation, sets the tempo of the divorce, and creates the narrative of the divorce. Being a Petitioner is invaluable, thus if you have decided that you need to divorce your spouse, you should look to file the divorce petition first. 

Temporary Orders are usually, absent emergency relief, the first hearing the Court will have in the case. At temporary orders the Judge will likely attempt to (1) place a band-aid on all assets of the marriage to ensure there is no wasting of assets, (2) determine custody and access of the children, and (3) ensure payments remain the same towards any separate or community property assets. Temporary spousal maintenance, exclusive use of property, and injunctions are granted at this hearing. In a divorce with high value assets this hearing is pivotal in determining how litigation will continue in the future. Every Court is different but multiple additional temporary order may be filed or clarification motions to ensure that the children and property of the divorce are protected. 

2. Discovery Phase and Experts

The discovery phase may be cumbersome and painful. Discovery consists of multiple written questions that one spouse is asking the other during the divorce litigation. These include production questions (asking for documents), interrogatories (questions require a written notarized responses), admissions (admit or deny questions), depositions (typically 6 hour cross examination in front of court reporter at an attorney’s office), and inventory and appraisal (sworn list of assets and values of each asset). These processes are usually expensive but necessary to prove the amount of the marital estate and the characterization of property. 

Experts are also employed at this stage. They are costly but necessary to prove tracing, the value of any potential fraud against martial property, or the overall value of a business that one spouse may own. These issues are likely contested, thus the battle of experts continue until the final hearing.

3. Depositions

A deposition is a formal question-and-answer session used in divorce cases to gather information under oath before going to trial in a case. It typically takes place in a lawyer’s office, where one spouse (the deponent) answers questions from the opposing attorney while a court reporter records everything. The purpose of a deposition is to uncover facts, clarify disputes, and assess how a witness may testify in court. While it doesn’t happen in a courtroom, the statements made during a deposition carry legal weight and can be used as evidence later. Depositions can sometimes be a total of 6 hours of questing the deponent.

During a deposition, attorneys may ask about finances, assets, parenting abilities, or any issues relevant to the divorce. It’s a structured process, but it can feel intense—especially if the other lawyer is trying to challenge credibility or uncover hidden details, such as finding additional martial assets. Being honest and composed is key, as misleading answers can backfire. Having an attorney present helps ensure that questions are fair and objections can be made when necessary. While depositions may seem intimidating, they are a valuable tool in ensuring transparency and helping both sides prepare for a fair resolution.

4. Mediation

Meditation may occur in the middle or toward the end of the litigation process. The cost of a good mediator may range from $2,000.00 to $3,500.00 per side. The mediation process can be difficult and last from a half day (4 or so hours) to more than a full day. Some mediations go for 14 to 15 hours to obtain settlement. Though this is expensive, it is still less costly than going to a final trial and many outcomes or solutions may be obtained by agreement of the parties to which a Judge cannot order. The flexibility of mediation makes this process less painful and costly than attending a final trial.  

5. Final Trial before the Court or Jury

Final trial may be performed solely by a Judge or a Jury of 12 peers. Only 10 of 12 Jury members are needed to find in favor of either party. A Jury trial is more expensive, takes more time to prepare, and may be more risky depending on the County and facts of each specific case. A trial before the Judge is cheaper and may simplify many matters. It is important to know for every 1 hour in Cout it takes more or less 4 hours to prepare.

A jury trial with a minimum of 2 experts and multiple other fact witnesses should take anywhere from 4 to 7 days. A trial before the Judge for a similar case may take 2-4 days, depending on how the Judge runs the Court. 

There are many trials and tribulations an individual will have to surpass in the Court system if they are divorcing with high assets. It will likely be costly, painful, but necessary. Many other factors such as summary judgements or motions to exclude witnesses, experts, or exhibits, may increase fees. It is important to be confident with your attorney and find a firm that has experience with higher assets cases to ensure the flow and strategy of the litigation fulfills your goals.

Dallas High Asset Divorce Attorneys
Nacol Law Firm P.C. 
(972) 690-3333