The division of marital property and debt is an issue that can easily fall into a dispute between spouses in a Texas divorce. How it is resolved can be enormously important in your ability to move forward financially after your divorce has been finalized. An unfair resolution of this issue can leave you at a disadvantage, struggling to reconstruct and stabilize your life with economic repercussions that can go on for years. However, beyond the economic impact, the factor of being able to retain your fair share of what you have worked for during your marriage is also an important emotional and mental consideration and component.
At Bastine Law Group, we believe the division of marital property is one of the most important tasks to be accomplished during the divorce process and we take great care in this matter. You have only one chance to get a favorable property settlement so you should make sure it is done correctly. We will work to achieve a fair and generous property settlement for you – one that allows you to move on with your life as a single person in the strongest financial position possible.
Many factors can complicate the division of marital property from the hiding of assets to committing actual or constructive fraud against the marital estate to complex financial factors regarding separate vs. community property, and more. We have a firm grasp on all of the variables that can occur and how to deal with them to help you achieve a fair and just property settlement.
Book a confidential consultation about your case with a Fort Bend County property division attorney at Bastine Law Group. Contact us online or by phone at (281) 784-3222 today.
Under Texas law, all property, assets, and debts acquired during a marriage belong to the marital “community” estate. This applies whether the assets were acquired by one or both spouses. In a divorce, the marital estate must then be divided and distributed in a fair and just manner. This does not always translate into an equal split between the parties.
The property that may be involved in marital community estates can include:
The courts will evaluate the unique circumstances of the couple in determining this issue. Various factors may be reviewed by the courts, including each party’s income, earning capacity, financial resources, ages and health conditions, current financial conditions, and their “separate” property estates.
Separate property is that property you owned before the marriage, property that was acquired during the marriage by gift or inheritance, or personal injury awards or settlements. However, even separate property may be subject to the community property division rule under certain circumstances, such as when commingled into the marital estate by increasing its value through further investment.