(833) 553-4251
(833) 553-4251
You likely have many concerns when you are facing the end of your marriage. Whether you are dealing with a contested or uncontested divorce, matters concerning property division are often one of the most complex aspects of these cases.
An Austin property division lawyer who is familiar with the laws governing the distribution of assets during divorce can negotiate on your behalf at every stage. An experienced family attorney can help you understand your rights and obligations given your unique situation, while also fighting for the best possible resolution.
When a couple divorces in a community property state, each person is entitled to a share of half of all assets acquired during the marriage.
Assets accumulated by either party during the marriage can be split equally when a couple divorces. Examples of assets that could be considered community property include:
Debt may also be considered community property and subject to equal division between both parties, but exceptions exist. Any distribution of assets or debt must be done in a just and fair way under community property laws.
Outside of community property, certain assets are generally considered the separate property of each spouse and not subject to division. Separate property can include gifts and inheritances received by either spouse during the marriage as well as assets either spouse owned before they married. An Austin attorney could assist with all property division issues and ensure a fair distribution of assets and debt.
A divorcing couple can usually present their draft agreement to a judge to sign when they agree on dividing community property. However, when the parties disagree about dividing assets and debt, a court may determine what is considered a just and fair distribution of community property.
An Austin property division attorney could provide skilled negotiation tactics and zealous courtroom advocacy in either of these circumstances. When it comes to dividing community property and identifying separate property, the court may consider multiple factors specific to the case.
For instance, the court may consider the duration of the marriage and the financial status of each spouse when evaluating how to split community property. The court could also consider factors such as the degree to which each spouse’s actions raised or diminished the value of the assets involved, the earning ability of each party, and the value of each party’s separate property.
Determining what assets are community or separate property can be a highly involved process requiring consultation with financial experts and valuation professionals. An Austin property division lawyer could work diligently to protect your separate assets while ensuring the appropriate distribution of community property.
Whether you are dealing with a straightforward collection of assets or a combination of real and personal property, an attorney with a broad range of experience in these matters can offer the unwavering representation you require. To find out more about how a lawyer at Kimbrough Legal could support your best interests, contact our office today and schedule your confidential case consultation.
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