How is Property Divided After a Divorce?
Posted by Mary E. Ramos | Divorce
Going through a divorce is never ideal, but it is often necessary. When you get to that point where your relationship is unsupportable, it is important that you and your assets are protected during the divorce process. It is all too easy to lose property, child visitation rights, and much more if you are not careful. In the state of Texas, any property that was acquired during the marriage is considered to be community property, meaning both spouses have equal rights to it. In order to protect your assets, it is critical that you hire a good divorce lawyer.
Because Texas is a community property state, it can be difficult for you to keep what is rightfully yours. If you believe that certain property is solely yours, you will need to prove it is your separate property. That is just one of the many reasons why good divorce lawyers are so essential in Texas. Unfortunately, many people do not realize that they are losing a significant amount of their livelihood until it is too late. The moment that a divorce becomes imminent, you must contact a divorce lawyer for legal assistance.
If you have property that is yours and yours alone, you will need to have good divorce lawyers to help you prove it. For example, if you owned a vehicle before entering into marriage, that vehicle is your sole property. However, there can be more complex situations, such as if you received an inheritance during the course of the marriage. While it was given directly to you, it was still acquired during the marriage. Ramos Law Group, PLLC can help you to hold onto what is justly yours.
Division of Debts and Assets
This is where good divorce lawyers are absolutely crucial. There are times when assets or debt may be divided disproportionately, so you need to take steps to ensure that you are not slighted. Some common reasons that factor into this include one spouse making significantly more income than the other, where the children will be living, tax issues, and more. The court will also consider who caused the divorce, so you must prove that you are not the sole reason why the marriage is unsupportable. This can be difficult to do on your own.
How to Prove the Value of Your Assets
If you have a significant amount of property, especially in a high net worth divorce, it may be necessary to go through an discovery process to appraise the true value of your estate. Unfortunately, sometimes spouses may not be honest, which is why professional intervention may be necessary. The discovery process requires the other spouse to show financial documents so that a fair ruling is achieved. A good divorce lawyer will give you confidence that your property is being appraised accurately. If property is being divided equally, you need to know that you are getting your fair share.
Get the Best Results with Ramos Law Group, PLLC
We are confident that we can get you the best possible settlement. Your divorce lawyer plays an integral role in this process, so don’t risk your livelihood when you hire a lawyer. Ramos Law Group, PLLC has helped countless clients to come out ahead in their divorce proceedings. We have the resources, skills, and knowledge to help you to keep what is rightfully yours. Call 713-225-6200 today to make this process easier, faster, and cost effective.