The division of property is frequently one of the most hotly-contested aspects of a divorce. However, this process does not have to be painful. With the right legal counsel, you could protect your rights to your property and the wellbeing of your children while avoiding a long, drawn-out public court battle. A dedicated family law attorney could assist you with protecting those rights and your children.
If you are going through a divorce, do not put the financial future of both you and your children at risk by handling the case on your own. It can be possible to even the playing field by relying on the guidance of a Missouri City property division lawyer.
Before the court can divide property during a divorce proceeding, they must first determine what assets the two own together as well as separately. An attorney in Missouri City could help with accurately identifying these assets and ensuring the property division process is fair.
Community property is anything of value accumulated by either party during the course of their marriage. Both spouses own equal rights to community property, and it is the court’s role to determine how this property is split up among the two.
The definition of community property under state law is fairly broad, but there are some exceptions worth noting. Any profits from stocks or other assets that are considered separate property will not be treated as community property, even if they were accumulated during the marriage.
Separate property is something of value owned by one party outside of the confines of the marriage. The most common example of separate property involves the investments or other assets owned by a person prior to entering a marriage. There are some assets that are considered separate property even though one spouse acquired them during the course of the marriage. Some common examples include inheritance, personal injury lawsuit proceeds, or gifts.
According to state law, there is a presumption that all property owned by a couple when a marriage is dissolved is community property. However, it is possible to rebut that presumption to show that property should be considered separate instead. If a spouse disputes the designation that a specific asset is community property, they must rebut this presumption with evidence establishing that the asset in question is actually separate property. Rebutting this presumption during the property division process could be possible with the help of an attorney in Missouri City.
When dividing community property, the court is not required to split these assets down the middle. Depending on the circumstances, the court could award one party the majority of the community property accumulated during the course of the marriage. This is especially true in cases involving children. Our attorneys in Missouri City could help a parent during the property division process by putting the child’s needs at the forefront of the case. Some of the factors the court take into account when dividing community property include:
For many parents, ensuring you are treated fairly during the property division phase of a divorce is about more than getting what you want. Many parents’ primary concern is to not only get what is fair but also what is necessary to provide for their children. You have the right to experienced legal counsel during your divorce. To discuss your rights, schedule a consultation with a Missouri City property division lawyer today.