Property Division Lawyers
Guiding Clients Through the Property Division Process
Division of community property is one of the most confusing aspects of Texas divorce law. Because our state considers all property acquired by either spouse during the marriage to automatically belong to both spouses, divorce means that property must be divided according to complex legal standards.
At Schneider Law Firm, P.C., we are experienced at analyzing community property division issues and helping our clients pursue fair results. Contact us to schedule a free consultation with one of our knowledgeable Forth Worth divorce lawyers.
Identifying Which Assets Are Community Property
The first step in Texas marital asset division is identifying the couple’s community property. Generally, any property acquired during the marriage is presumed to be community property, although each spouse has the opportunity to prove that a certain asset is his or her separate property.
Sorting out community property can be tricky and may require a detailed analysis to determine how much of a particular asset is community vs. separate. In many cases, it is necessary to get a restraining order from the court to protect property from waste, alienation, or fraud while the divorce is pending.
For instance, a bank account owned by one spouse before the marriage may have been commingled with money earned during the marriage, or one spouse may have made payments on the other spouse’s house owned before marriage. Evaluating retirement accounts can also be difficult.
Another major issue at this stage is making sure all assets are accounted for. This particularly becomes an issue with small business owners who may have an opportunity to transfer certain assets to the business.
Deciding How Property Will Be Divided
Once the community property has been identified, it then needs to be divided. Because certain assets, such as houses, can only be divided if they are sold, this may require weighing the values of different assets against each other. Division of marital debt is also an issue, especially if it is possible that one spouse will not be able to pay off his or her share.
While the traditional rule for dividing community property is 50/50, one spouse’s share can be decreased if the other spouse can prove that he or she behaved poorly by – for instance – committing family violence, adultery or fraud during the marriage.
Here to Serve You
Our attorneys are experienced at guiding clients through the community property division process. In every case, we are prepared to go to trial if necessary in order to demonstrate what is fair for our clients.
If you are ready to talk with our firm about your case, please contact us to discuss how we can help you. We look forward to reviewing your legal concerns!