Property Division Lays The Groundwork For Your Financial Future

How property is divided in divorce has an important effect on setting the financial foundation for your post-divorce life. For the purposes of deciding who gets what, Texas courts first characterize assets as community property or separately owned assets.

Assets that either spouse acquire during the marriage are presumed to be community property. Important exceptions to this are an inheritance, a gift that either spouse receives from someone other than the other spouse, and any recovery obtained by a spouse for injuries sustained only by that spouse (except for that portion of an award that is for lost wages). The burden of proof is on the person seeking the classification of separate property.

  • The length of the marriage
  • Disparity in earning power of both parties
  • Each party's education and earning potential
  • Whether one party was awarded the family home
  • Each party's health

Resolving Property Division Without Litigating

Reaching agreement on asset distribution through negotiation or mediation and avoiding litigation not only saves both parties legal costs, but also allows them to retain more control over the process, which usually leads to a more palpable outcome.

It is often stated that one indication marital property has been fairly divided is when both parties walk away unhappy. However, my experience representing fathers in divorce since 2009 has shown me that it is possible for both parties to be satisfied with the property division process. This occurs more often when couples manage to avoid litigation.

Complex Assets Require An Experienced Austin Property Division Lawyer

Dividing a community estate is more complicated when there are substantial assets and complex holdings. If you or your spouse own a business, have a stake in a professional partnership or have assets in the form of a pension, retirement plan or other complex holdings, it is essential to work with an attorney who knows how to obtain the proper value of these assets and protect them to the fullest extent possible.

My objective is to put you in the best financial position possible to begin your post-divorce life. Call 979-583-9200 or use my online contact form to schedule a meeting. The Law Office of Brian Turner is located in Bryan, Texas and we serve clients throughout Brazos County.