(833) 553-4251
(833) 553-4251
If you are considering a divorce, you may be concerned about protecting your assets and preparing for a financially secure future. Our Killeen property division lawyers could help guide you through the process with confidence to ensure a just and right division.
Our skilled family law attorneys take the time to understand your financial needs and goals. We could use our knowledge and skills to ensure that you enter your post-divorce life with a fair share of the marital assets.
Many people know that Texas is a community property state, but that does not mean assets are divided equally. It means both spouses have an equal interest in all the marital property. According to Texas Family Code § 700.01, community property must be divided in a manner that follows just and right division standards.
The marital estate encompasses everything the couple owns at the time of a divorce, regardless of whose money paid for it or whose name is on the title or registration. However, it does not include anything either spouse owned before the marriage, which is treated as separate property.
Sometimes, the way a couple manages their separate property could make ownership unclear, meaning some separate property could be converted to community property if the couple treats it as if it belongs to the family rather than one spouse. If you believe this may be an issue in your divorce, discuss the situation with a Killeen property division attorney.
Some couples have simple financial lives, and they may readily agree on the value of their community property and how to divide it fairly. However, the process can be far more complicated for couples with complex financial holdings that include:
The first step in the property division process is identifying separate property. Sometimes this can lead to disputes, especially if one spouse believes they have personally contributed to the appreciation of the other’s property. When both spouses agree on which property is community property, they must then confirm its value.
Establishing a mutually agreed value can be challenging. Depending on your holdings, our attorneys might engage professionals, such as a business valuation professional, a forensic accountant, or appraisers, to provide opinions to aid in the valuation phase of property division in Killeen.
For most couples, a just and right property settlement means each spouse will leave the marriage with about half the value of the marital estate and be responsible for about half of the marital debt. However, couples are free to deviate from an even or near-even split if their arrangement is fair.
If the couple cannot reach an agreement, the judge will consider the evidence and issue a property division order with the final divorce decree. Judges consider numerous factors when deciding what is just and right, including:
The judge may also consider whether one spouse is at fault for the marriage’s failure. Our Killeen lawyers could provide effective assistance during property settlement negotiations to ensure a fair outcome. When a judge must decide, we could demonstrate why your preferred settlement is just.
Property division is a critical aspect of divorce that impacts the rest of your life, and you deserve legal assistance that ensures you are treated fairly. When it comes to a just and right division, do not leave it up to the courts when our attorneys could help you and your spouse reach an amicable agreement. Reach out to a Killeen property division lawyer at Kimbrough Legal, PLLC, for help today. We could ensure you emerge with a fair settlement that positions you for a positive future.
Kimbrough Legal, PLLC
N/a
P.O. Box 43102
