Splitting Up Assets
Different states have varying policies when it comes to divorce. There are some states that recognize all property and income earned by a married couple as belonging equally to both of them, and Texas is one of those states. This is what is known as community property state. Regardless of whose name is on the deed or ownership papers, both spouses have equal ownership of most assets acquired during the marriage, with certain exceptions. If you want to protect your assets, it is very important to talk to a divorce lawyer in Houston, Texas.
Determining Separate Property
During divorce proceedings, the court presumes that all assets are community property. If certain property is yours and only yours, it will be necessary to prove that it is separate property – not community property. Separate property includes, but is not limited to, the following:
- Property that was previously owned by the spouse before the marriage
- Property that was acquired by gift or inheritance
- Certain kinds of recoveries for personal injuries
Naturally, you are going to need to prove that your separate property is indeed yours. This can be difficult if you are not familiar or comfortable with the legal system. Having a divorce lawyer in Houston, TX on your side is going to drastically improve the chances of getting the desired results. You should never attempt to go into a legal situation without proper representation and consultation – especially when your assets are at stake.
Tangible and Intangible Property
There are many different types of assets that will need to be divided. The most common are houses, personal property like jewelry, clothing, furniture, and other physical goods, as well as intangible property like benefits, dividends, and income. Splitting community property can also means equally splitting debt. This can be a daunting revelation for many spouses who did not realize that debt even existed. That is why it is so important to have a divorce lawyer in Houston, Texas to help you to prove ownership (or lack thereof) of community and separate property.
In addition to splitting assets, it may be necessary for one spouse to pay spousal support to the other. Spousal support sometimes occurs when one spouse earns more income than the other, and divorce would cause the spouse seeking support to no longer be able to support their basic needs. The court will consider many different factors to determine with spousal support, often referred to as alimony, is appropriate. Again, the right divorce lawyer in Houston, Texas will be able to help you receive or keep what is rightfully yours during this trying time.
Protect Your Property with a Reputable Attorney
Divorce proceedings can be difficult, overwhelming, and quite complex. Attempting to navigate these harsh channels on your own can be quite costly. As you go through these changes in your life, it is essential that you have proper legal counsel. Ramos Law Group, PLLC has the skills and expertise to help you every step of the way. Don’t let divorce get the best of you – call Ramos Law Group, PLLC today.