Division of Property
WHAT IS JUST AND RIGHT?
Texas is a community property state, so one of the first steps that needs to be taken is to parse out your separate property. This is primarily property that you accumulated prior to the marriage. This is yours to keep and not subject to division. However, this can be complicated when an asset was initially acquired prior to marriage and then paid off during the marriage, such as a house. We know how to address such complications.
All marital property is subject to division. It does not have to be divided 50-50, although that often works as a starting point. The law requires a just and right property division. But what does that mean? There are many factors that need to be taken into consideration to determine what is just and right, from the length of the marriage to each spouse’s earning capacity. Our lawyers will review all such factors to pursue the outcome that is right for you.
WORKING WITH EXPERTS WHEN APPROPRIATE
Property division can get complicated fast, particularly when high-dollar assets are involved. Maybe you have a family home. Maybe you also have rental properties and real estate holdings throughout Texas or in other states. Perhaps you have substantial investment accounts and income. Do you own a business? A professional practice?
As a law firm firmly rooted in North Texas, we have established a network of experts to draw from to help us gather and analyze the facts in these cases. Depending on the specifics of your divorce, we may bring in certified public accountants, appraisers, experts in business valuation and more. We’ll assemble a team dedicated to helping you keep what is rightfully yours.