Assertive Guidance During Property Division Disputes
Disputes relating to the division of marital assets and liabilities are often one of the most heated aspects of a divorce. For good reason, too, as the division of your property plays a key role in your future financial security and well-being.
I am Frisco family law attorney Megan Rachel. For nearly 30 years, I have helped clients resolve even the most heated and complex disputes related to the division of property during a divorce. Through assertive negotiation or aggressive courtroom litigation, I fight to help every client walk away with their fair and equitable share of marital assets.
What Does “Fair and Equitable” Division of Property Truly Mean?
Texas is a community property state, which means that any income, assets and debts gained by either spouse during the marriage are considered to belong to each spouse equally. This doesn’t necessarily mean that property is split evenly down the middle during a divorce.
Instead, the state calls for a fair and equitable division of property, rather than an even 50/50 split. This takes into consideration many factors, including:
- Each spouse’s income
- The length of the marriage
- The financial needs of any children
- Each spouse’s earning abilities and work history
- The medical care needs of each spouse
A judge’s decision involving these factors is quite subjective. This is why it is important to work with a lawyer who can position you in the best light to receive what truly is fair and equitable during a contested divorce.
Property Exempt From Division
There also exist some assets that may not be divisible upon divorce. This property, called “separate property,” includes gifts given to one spouse, individual inheritances, and property acquired before the marriage.
Sometimes separate property can become comingled with community property, making it difficult to determine what is separate property and what is community property (e.g., depositing funds received from an inheritance into a community account). But even if you have comingled your separate property with community property, I may still be able help you protect your separate property interest.
Let Me Help You Protect Your Best Interests. Schedule a Consultation Today.
An equitable division of marital assets and debts is vital to your financial well-being following a divorce. To learn how I can help you pursue a fair deal, contact me online or call 972-426-2637 to schedule a consultation today.