FORT WORTH METROPLEX PROPERTY DIVISION ATTORNEYS
As part of the process of divorce, the separating couple usually must find a way to divide their estate, including all assets and debts that were held in the marriage. While you will be able to keep your separate property, which is basically property owned by you before the marriage, together with any gifts and inheritances you acquired during the marriage. Commingling of community and separate property or obligations cand sometime create reimbursement issues. The rest of your marital estate, absent an agreement between the parties, is subject to a just and right division between to parties.
At The Maynard Law Firm, PLLC, our Fort Worth metroplex property division lawyers have successfully helped countless individuals keep the property that matters most to them, and we can help you pursue any course of legal action that will be necessary to protect your interests. That being said, our attorneys can advocate on your behalf in working towards a voluntary agreement just as effectively as we can in the courtroom, should you decide to take that route.
DO I NEED AN ATTORNEY?
Division of assets can be a complicated and difficult process. Because an agreement regarding the estate could not be reached, the court must determine the value of all assets, claims, and liabilities based on the disputed evidence presented. It is important that you have an experienced attorney on your side for this dispute.
Also, at this stage in the divorce proceedings, the parties are often emotionally invested. Because an agreement regarding the estate could not be reached, property division can become hostile. An attorney is essential to serve as your voice of reason during this difficult and trying time. We understand how crucial division can be, so it is important that you contact the experienced attorneys at The Maynard Law Firm, PLLC so that you can get the best division outcome.
WHY CHOOSE THE MAYNARD LAW FIRM, PLLC?
At The Maynard Law Firm, PLLC, we have decades of combined experience in family, personal injury and probate law. What sets us apart from other firms is our experience in multiple complicated areas of the law. Because of our knowledge and experience in multiple legal areas, we are effective at combating the difficult legal issues presented in division cases. We understand that the division process can be a stressful and time-consuming process. Please do not hesitate to contact the Fort Worth property division attorneys at (817) 335-9600 so that we can guide you through this difficult time.
DIVISION OF ASSETS
Any property was acquired during the marriage—including your home, cars, income, spouse’s income, stocks, retirement plans, and anything else with monetary value—is generally considered to be what is known as community property. Any asset that falls under this category will need to be fairly divided between you and your partner. While you will have more control over this process if it is voluntary, it may be necessary to argue your case in court.
DIVISION OF DEBTS
In the same way you and your partner must divide your assets, you will also need to divide all of your shared debt, including things like mortgages, car loans, credit card debt, and any other debt that was acquired during the course of the marriage. Generally speaking, any shared debt may be subtracted from the community assets to calculate your net community estate, which may be used as a guidepost during this process of dividing the property you and your partner hold.
FREQUENTLY ASKED QUESTIONS
The attorneys at The Maynard Law Firm, PLLC are ready to help you get the property you deserve through the division of assets proceedings. We have the skill and experience you need on your side to ensure that you get the best possible outcome. Don’t hesitate to contact the Fort Worth metroplex property division lawyers at (817) 335-9600 for help with getting the property you deserve. We have included a few frequently asked questions and their answers concerning the division process below for your review.
WHAT MUST BE DONE BEFORE A COURT CAN BEGIN THE DIVISION PROCESS?
Before your property is divided, we must first locate, identify, and establish the value of the property in question. Finding the property can be an issue. Sometimes a spouse will attempt to conceal property subject to division. This is a poor move by the spouse because this property will almost always be uncovered during the course of discovery. Additionally, most property can be revealed through various financial records. If a judge or jury finds that a spouse attempted to hide property, the spouse will often get a bad division reward.
The value of the property is a hotly-contested issue between the parties, which is why the division proceedings are done in the first place. The value of the property may be determined through consultations with a series of appraisals experts. Generally speaking, you and your spouse will be able to express an opinion regarding the value of the contested property. The price often boils down to the fair market value of the property. However, there are some types of property where the fair market value is simply impossible to calculate. This is why it is necessary to have the experienced attorneys at The Maynard Law Firm, PLLC on your side.
We must also determine whether the property is community or separate. Generally, community property is the property that was acquired during the course of your marriage. Separate property is essentially the property you had before the marriage. Like most division issues, the determination of whether a property is community or separate is a complex legal matter. It is important to have the experienced attorneys at The Maynard Law Firm, PLLC when a court makes this determination.
WHAT DOES A COURT CONSIDER WHEN DIVIDING PROPERTY?
According to the Family Code, the court’s goal in a property division is to divide the property in a just and right manner while having due regards for the rights of each party and any children of the marriage. When making this determination, a court will consider whether an asset is subject to taxation. Sometimes, a court may divide property unequally. Some of the more common reasons a court might divide property unequally include the following:
- Future need for support
- Fault in the breakup of the marriage
- Disparity of age
- Child custody
An unequal division is never meant as punishment for one of the parties of the marriage. The point is that the court will consider many factors before issuing a division order. These factors may lead the court to conclude that an unequal division is appropriate. To ensure that you get the property you deserve, it is important to have a skilled and experienced attorney on your side. The team at The Maynard Law Firm, PLLC knows the factors inside and out, and we will get you the property you deserve.
HOW DOES A COURT DIVIDE PROPERTY?
There are some assets that are simple to divide, like cash, furniture, and automobiles. However, there are some assets that can cause serious issues when it comes to division, such as stock in a small family business or physical property located outside of Texas. If you or a spouse had a life insurance policy, a court may deem this separate property or subject it to some sort of division. This determination is based on a wide range of facts and circumstances. The following list includes other types of property that make the division process complicated:
- Retirement benefits
- Employment benefits
- Professional licenses
Almost any conceivable piece of property might be subject to a division order. If you cannot reach an agreement with your spouse, property you thought you were entitled to may be subject to division. In order to ensure that you have the best possible outcome during this division process, it is important to have an experienced attorney to guide you. At The Maynard Law Firm, PLLC, we have decades of combined experience in the areas of family and probate law. Please do not hesitate to contact us through our website or give us a call at (817) 335-9600. We will use our skills and qualifications to make sure you get the property you deserve through the division process.
CONSULT WITH A PROPERTY DIVISION ATTORNEY IN THE FORT WORTH METROPLEX
If you want to learn more about what you can do to protect your interests as you work through your divorce, you should reach out to a Fort Worth metroplex property division attorney at The Maynard Law Firm, PLLC. To speak with us about what strategy may be best suited to your particular circumstances, please call (817) 335-9600 to schedule a free initial consultation.