Property Distribution In Texas Divorce Cases
Dividing marital property is necessary for every divorce. While there are some assets that are the exclusive property of one spouse, the vast majority of assets owned by a couple are shared, and tough choices will often have to be made. The same is true of most marital debts. Something very important to remember is that the divorce order assigns property and debt in terms of obligations between the couple, not between the spouse or spouses who incurred the debt and the lender. Additional steps may be necessary to protect you from a messy post-dissolution debt situation.
Our divorce lawyers at Griffin, Cain & Herbig, Attorneys at Law, PLLC know the pitfalls inherent in a sloppy property division and are prepared to do everything possible to protect you from future headaches. We can handle all aspects of your divorce case.
Types Of Property
Community property is comprised of those assets and debts acquired during the marriage, either jointly or by one party, other than by a gift or inheritance to one spouse. The standard division of this property is half to each spouse. Many factors can change the percentage of division, however, and the high variability in how any couple lived out their marriage provides for many different ways to arrive at a disproportionate division. Separate property is roughly comprised of those assets owned by a spouse before the marriage, as well as gifts to one spouse and inheritances received during the marriage.
Let Us Help With Property Division And Other Aspects Of Your Divorce
Parting with some of your property is difficult – this is a significant part of your life’s work we are talking about in bland, sterile terms. Even in situations where the spouses are cooperating in ending their marriage, the property division is almost always emotionally taxing. Our divorce lawyers are experienced with the process and understand the stress you will be under. Learn more by reaching out online or calling 281-524-6979. We offer free initial consultations.