Experienced With Complex Property Division – Texas is a community property state, which is often a source of confusion to couples who divorce. It can be a complex issue, especially if there is a dispute over which assets are separate, which are co-mingled and which are community property.
Trying to sort out asset division without a divorce lawyer is not advisable. Both parties will benefit from representation. At Lindsay, Lindsay & Parsons, Attorneys at Law, we represent high net worth individuals, people with moderate incomes, and people who were not involved in their family’s finances and need assistance calculating their net worth. Regardless of the type of assets you have, you can rely on our experience and dedication to your case. For a free initial consultation with a Beaumont division of assets attorney, please call 409-833-1196, or contact us online.
Community Property in Texas
Texas family law presumes that marital property is community property unless:
- It is designated as separate property in a prenuptial or postnuptial agreement
- It was a gift or inheritance received by one party
- One party owned it prior to the marriage
In addition, if you can demonstrate that an asset is yours by tracing its ownership from the date of acquisition, it cannot be awarded to your spouse.
Typical assets that are divided in a divorce may include:
- Real estate
- Personal property such as vehicles, electronics and furnishings
- Bank accounts
- Retirement accounts
- Insurance
The division of marital property also includes debts such as mortgages, other loans, credit card debt, taxes and any judgments against both parties. By examining your finances, we can determine which debts are joint obligations and which are separate.
High Net Worth Asset Division
We have represented high net worth clients such as business owners, oilers, ranchers and other professionals. In these cases, we may work with financial experts to value businesses or find hidden assets. Division of sophisticated assets such as stock portfolios, businesses, deferred compensation plans, oil rights and commercial real estate is often required. We have the experience to ensure your rights are protected throughout the process.
Contact a Lumberton and Port Arthur Property Division Attorney
To schedule a free initial consultation with an attorney, please call 409-833-1196 today.