Property division is one of the biggest issues during a Texas divorce. Knowing what combined property exists between the couple is not only important, but is legally necessary. The subject can be tricky because each partner can have different properties under their name. On the properties, couples can share various possessions, which can make the matter even more complicated. Before moving forward with the property distribution process, couples need to be upfront and disclose all properties that they own, whether jointly or individually. Any effort to conceal property is discouraged, but unfortunately, it is common among divorcing couples. Hiding property is unlawful and can hurt you in the long run. However, it is also important to have a grasp on what type of property is considered marital property, and what may be considered personal. Understanding how they are distinguished isn’t easy in many cases. That is where a divorce lawyer can come in and provide assistance. If you are going through a divorce, an experienced divorce lawyer Cypress, TX clients trust can provide invaluable advice and legal assistance throughout the process.
Texas law recognizes two types of property: community and separate. Community property is property that is owned by a married couple or a domestic partnership, according to Texas law. When it comes time to classify all the property a couple owns, it can be confusing to do. In Texas, they are recognized as a community property state. Possessions acquired during a marriage is considered community property. Debt acquired during the marriage is also considered community property. Each spouse owns one-half of the community property, including the debt. Separate property is property of an individual that they owned before the marriage, was a gift or inheritance to them alone during the marriage, or any property that they earned, acquired, or were given after the date of separation. Additionally, gifts and inheritance are considered to be separate property, as well as financial compensation earned from a civil lawsuit.
For couples with large amounts of possessions and property, classifying property and agreeing on ownership can be a stressful process that can take a long time. A divorce lawyer can serve as an unbiased third party to carefully evaluate your situation and propose solutions that protect your rights and serve your interests.
As a divorce lawyer in Cypress, TX can explain, any property that was acquired or earned out of state (including debt acquired out of state) is considered by Texas law to be quasi-community property. Quasi-community property is treated the same as community property: each spouse is entitled to half. For example, this applies if you acquired property while living in a non-community property state. Understanding how quasi-community property laws can be confusing because it involves multiple states, so if you need help figuring out how it applies to your situation you can reach out to a divorce lawyer who can give you an explanation.
Real property is often the biggest piece of the financial puzzle that must be divided. Real property includes houses, condominiums, land, apartment complexes, office buildings, and any other property that was earned or acquired during the marriage. Disputes over real property are often especially contentious because they are the most valuable. Seek a lawyer to help you if you and your spouse cannot come to an agreement over real property.
Community property covers a large set of possessions. Community property also includes automobiles, home appliances, furniture, electronics, and any other item that has a physical presence that was acquired during the marriage.
Deciding who is responsible for certain accounts and paying off debt is another hot issue in a divorce. No one wants to pay off a larger portion of debt than they need to, so these usually do not get settled easily. Divorce can be quite expensive, so spouses want to preserve as much money and assets as they can. If there are large accounts established that were previously shared by a couple, this can come with further complications. Other types of property that must be looked at include, but are not limited to, the following:
With so many factors to be considered, finding an appropriate solution can be extremely complex without the help of a lawyer.
As per Title 38 of the U.S. Code, veterans’ benefits are not included in community property and cannot be divided. Additionally, military disability retirement benefits are generally not up for division during divorce. However, the VA may garnish veterans’ benefits if child support or alimony is not paid after the divorce has been settled and the court has made rulings on those two items.
Handling a divorce amicably can be extremely difficult, especially when property is involved. If you and your partner struggle to come to agreeable terms when it comes to your property, the process is only made more emotionally charged and challenging. If you have had multiple discussions and still are unable to come to a fair solution that both of you can get behind, it may be time to talk to a skilled divorce lawyer.
A top divorce lawyer has helped many divorcing couples settle their property division disputes. It is often one of the most sophisticated topics to tackle because spouses can have vastly different views over who gets what property. To help find the right solution to the matter, a divorce lawyer will work with you so they can understand your needs and work towards a property distribution agreement that protects your rights.
For many couples, divorce may seem like an inevitable course of action when there are differences that they cannot seem to get past in their marriage. However, rather than taking the drastic step of permanently dissolving a marriage, there are some situations where a less permanent option, like a legal separation, might be a wiser move.
As a Cypress, TX divorce lawyer can explain, it is important to understand that being physically separated and legally separated from one’s spouse are two distinct things. If a couple has decided to live in separate homes, either temporarily or permanently, they may have made informal agreements about how certain matters will be handled. However, a legal separation will put official, legally binding agreements in place, and the court may make decisions about issues such as child custody, child support, or spousal maintenance while the couple is living apart.
In a legal separation, a couple will still be married as far as the law is concerned. Spouses are not allowed to remarry during the separation.
One of the main benefits of legal separation is that it is a less drastic option than a divorce. It can allow spouses to spend some time living apart and provide the ability to work things out before deciding to end their marriage. In some situations, couples find that the time apart helps them work through their problems, and they may no longer want to proceed with a divorce. Formally beginning the divorce process can cause a relationship to become contentious, reducing the chances of working things out.
Once your Cypress, TX divorce lawyer files a petition for legal separation, a couple may address many of the same issues as they would during a divorce. These may include child custody, child support, division of assets, and more. If a couple does decide to proceed with a divorce at a later point, many of these contentious matters may have already been decided, thereby allowing the divorce to proceed much more smoothly.
A legal separation may also be beneficial for certain couples where divorce is not an option. This may be a good solution for those whose religion prohibits divorce or when staying legally married will allow a spouse to continue receiving benefits such as health insurance.
During legal separation proceedings, a separation agreement will be created. This is a legally binding contract signed by both parties, and it may address any property, child, and debt-related issues involved in the separation. This can be a very detailed and complex document in some cases, depending on a couple’s circumstances. To ensure that the rights of both parties are protected, it is best to work with a divorce lawyer in Cypress, TX when creating a separation agreement.
If you are considering a divorce, we encourage you to reach out to the Winfrey Law Firm today for any divorce needs or questions you may have. We can schedule a free and confidential consultation with a Cypress, TX divorce lawyer. Call our office today.