Professional athletes have exciting and lucrative careers that often affect their families’ lifestyles. Unfortunately, these high-profile individuals also face high divorce rates. Divorce for athletes in Frisco can include complex issues involving asset division and spousal maintenance.
High-asset divorces place more at stake for both parties, potentially leading to conflicts that drag out the process. If you or your spouse is a sports professional and either wishes to end your marriage, retaining an experienced high-asset divorce attorney is in your best interest. From financial complexities to public scrutiny, a skilled lawyer could help you navigate the process as seamlessly as possible.
In divorce cases without a prenuptial agreement, the court will divide property following Texas law regarding community and separate property. Community property typically includes any property obtained during the marriage, including income and real estate, and is generally divided equitably between spouses. The court considers several factors when distributing community property, including each spouse’s earning potential, current income, and who cares for the children, if applicable.
As high-wealth individuals, Frisco professional athletes often enter into marriage with a prenuptial agreement that dictates property and spousal support rights in the event of a divorce. However, prenuptial agreements cannot include child custody or child support rights. Courts usually enforce prenuptial agreements, except in cases where extraordinary circumstances exist, such as lack of financial disclosure or involuntary signing.
It is common for a non-athlete spouse to request spousal maintenance, or alimony, following a Frisco divorce. However, alimony is not guaranteed in Texas, and Tex. Fam. Code §§ 8.051, 8.053 outline the circumstances under which a spouse might qualify for spousal support. To be eligible, the spouse must prove they will not have enough property to provide for their minimum reasonable needs after the divorce, and at least one of the following requirements must be met:
When a spouse in a long-term marriage claims the inability to earn sufficient income without other qualifying factors, proof must be included that they have tried to earn more or develop skills to do so. Additionally, Tex. Fam. Code §§ 8055 1,2 states that monthly spousal maintenance payments cannot exceed $5,000 or 20% of the supporting spouse’s monthly income.
Professional athletes have demanding careers, and unfortunately, divorce for athletes in Frisco is common. If you or your spouse is a professional athlete and either of you intends to file for divorce, consult with a family lawyer to discuss equitable division of assets.
The dedicated family law attorneys at Towson Law Firm are experienced in handling the nuances of divorce for professional athletes. Contact us today to schedule a consultation and learn how we could help you reach the most amicable solution for you and your spouse.
Our Law Firm’s approach to your case is based on individual circumstances. Whether it is a simple negotiated settlement, or it requires an aggressive approach, we will protect and defend your best interests.
