Dallas Property Division Lawyer
Representation for Division of Assets in Texas
In Texas, the property and assets you obtained during your marriage are considered shared property, meaning both spouses have equal ownership claims. Texas law states that property must be distributed in a manner that is “just and right” during a divorce. Both sides much receive a fair share of the assets, unless the divorce is “at fault” in which case, the spouse filing for divorce may be entitled to more.
The courts will try to make the division equal, but they do not know all the details of your finances and property. This is why you need a knowledgeable attorney who can clearly define what you owned during your marriage and what you are entitled to now that it is over. This is where the Dallas divorce lawyer of Garcia-Windsor, P.C. can help.
Call (214) 972-3025 to schedule a consultation at Garcia-Windsor, P.C. today.
Community Property & Separate Property
Your marital assets are considered “community property”, meaning you both have an equal claim to them. Property you owned before your marriage is still considered yours and will not be considered in divorce proceedings so long as you can prove it belonged to you before the marriage.
Community property in a Texas marriage includes:
- Income obtained by both spouses during the marriage
- Employee benefits
- Insurance benefits
- Disability payments
- Worker’s compensation funds
- 401K plan
- Real estate
- Business ownership
It should also be noted that income from separate property is still considered shared property. If you owned a business or rental property before your marriage, you retain ownership of them, but the income obtained during your marriage is community property.
How Do Texas Courts Divide Community Property?
When a judge decides on which property will be divided, he or she will do so equitably. They will also examine one or more of the following factors:
- How long the marriage lasted
- Was there a fault that initiated the divorce?
- Were there assets and debts acquired during the marriage?
- The value of the property
- The age, health, and earning power of each spouse
- Which spouse has child custody
- The employability of each spouse
It is possible to obtain employment benefits, retirement income, and pensions as community property if they were accumulated during the time of the marriage.
How Do the Courts Divide Businesses?
Businesses owned by both spouses are also evaluated. If necessary, the court will hire an expert to help determine its liquidity or cash value if the business cannot be divided equally. Like any other asset, the time-consuming aspect comes in the form of determining what is fair. Often, divorcing couples may hire a certified public accountant or business appraiser to not only keep their best interests in mind, but to help with the valuation. It is important to consult with our attorney if you have questions regarding this, as business or real estate division can become complicated.
Let’s Discuss Details
The court considers many factors when determining “fair” asset division. These may include who retains child custody, the age difference between spouses, who was “at fault” for the marriage’s break up, and each spouse’s individual ability to bring in income. You need to be honest with your attorney about the details of your marriage so they can help you fight for everything you deserve.
Call (214) 972-3025 to schedule a consultation with our divorce lawyer in Dallas today. We have extensive experience in the Texas family law court system. We know what judges factor into their final decisions and how to demonstrate your financial needs in court.
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This firm not only offers great customer service but actually cares about their clients. Very happy with the services provided.- Jasmine
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- Yoraxi
(Translated by Google) The event of a divorce is always full of doubts, anguish, uncertainty and besides all this we have the difficult task of looking for a good lawyer to legally assist us in the process. Personally, when I arrived at the attorney Isabela Amie's office and discussed my case, I quickly knew that I was in the right place. I received the advice in a clear, precise and simple way, and the professional fees are very reasonable. If you are one of the people who encounter the feelings described above, do not hesitate to contact Garcia Windsor attorneys.
(Original) El evento de un divorcio siempre esta lleno de dudas, angustia, incertidumbre y ademas de todos esto tenemos la dificil tarea de buscar un buen abogado que nos asista legalmente en el proceso. En lo personal al llegar a la oficina de la abogado Isabela Amie y conversar sobre mi caso, rapidamente supe que me encontraba en el lugar apropiado. recibi la asesoria de forma clara, precisa y sencilla ademas que los honorarios profesionales son muy razonables. Si usted es una de las personas que se encuentra con los sentimientos antes descritos, no dude en contactar a Garcia Windsor abogados.
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Nice friendly and informative staff. Highly recommended of you are in need of their services.- Jason
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I would recommend this firm, and I have actually since I just received my final divorce decree. I would like to say that Miranda is very responsive, and will email me back in a very timely manner. She was able to answer all of my questions, and was very quick to send everything. The whole team is very professional, and thank God my case was sent quick. I have a child, and my ex spouse was able to sign virtually with the notary. Everything is electronic now since Covid hit so yuppie!!! Highly recommended- Juana
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Since the first day I met Isabela she was very welcoming. She listen to my case and was determine to help me find a solution. I work with Pooja which also was very professional. We were able to settle my case in less then two months. Of course everyone knows hiring a 5 star attorney cost money. I was truly bless to find Isabela she understood my financial situation and was able to work with me on a payment plan. She deliver the same service regardless. God bless her and her staff. Definitely recommend her!!!- Diana
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Highly recommend. Exceptional service and friendly staff.- Tatiana