An attorney specializing in family law knows that a hostile divorce is hard on the entire family, especially the children. Property division can be one of the most contentious topics during a divorce. As such, ensuring that the marital property is divided fairly can help ease tensions and make the process smoother for everyone.
If you are a parent looking to protect your child’s best interests during the asset division process, look no further than the divorce attorneys at Angela Faye Brown & Associates. Our Houston property division lawyers could protect your children during this process by fighting for a fair split of your assets that would allow you to provide a safe and stable home for them.
Family courts divide property based on what the court determines to be “just and right.” This means that the circumstances of the divorce could impact whether the property is split equally between the partners.
If, for example, one partner was unfaithful or wronged the other, and that caused the marriage to end, the innocent spouse might receive a greater portion of the assets. Alternatively, if one parent’s income or earning capacity is significantly higher than the other’s, the lower-earning party may get more of the assets. If the divorcing parties can agree on asset distribution, the court will generally approve the agreement. An attorney in Houston could help parents understand their rights and come to agreeable terms that protect their child’s wellbeing during the property division process.
A court will divide a couple’s property based on whether the asset is shared or was obtained before the marriage began. According to Texas Family Code §3.001, community property is any asset that the couple obtained together during the marriage. This property is owned by both partners regardless of whose name is on it.
Community property must be divided equitably during a divorce, which does not necessarily mean that both parties will get an equal share. In some instances, one parent may receive more than the other, but the factors that determine this depend on each person’s situation.
Alternatively, separate property belongs to only one spouse. This property is often owned before the marriage or acquired as a gift, inheritance, or settlement of some kind. During a divorce, neither party has a claim to the other’s separate property. A Houston attorney could determine which types of property may be subject to division during this process.
Debt distribution works similarly to assets as it is divided based on who it belongs to. With shared debt, the court might order one spouse to pay more than the other, especially if they have a higher income or obtained a greater percentage of the overall marital estate. Other factors that may impact the division of debt include custody and child support obligations.
During the property distribution process, the court’s decisions are based on what it feels is best for both parties and their children. However, this might not be what you think is best, which could result in additional frustration. Fortunately, a Houston property division lawyer could help you navigate the complexities of asset distribution and help you fight for what is best for your family. Reach out to schedule a consultation with one of our attorneys today.