If you are going through a divorce in League City, you probably have mixed emotions. There is the evident happiness of ending a marriage that failed, but at the same time, there is emotional turmoil and stress about starting a new life without your spouse. Before you sign the final papers and get the divorce, there are a bunch of things to consider, including how property will be divided. Understanding Texas laws can be confusing, and you cannot unquestioningly trust the internet. In this post, learn more about property division and the need for an attorney.
Texas is a community property state
That may sound confusing. You may assume that you will get half the share of all assets owned, but that may not be the case. If you and your spouse cannot agree on the distribution of assets, the court will decide on property division, for which it will consider every aspect, including the rights of both parties and the welfare of the minor children. The court aims to ensure that the division is fair, justified, and based on facts concerning the marriage. The 50-50 manner may not be the standard for every divorce.
Understanding separate and community properties
If you had purchased a property or had investments before the date of the marriage, those are yours to keep and are considered separate properties. Assets and properties acquired through gifts or inheritance during the marriage are also separate properties. If you had to file an injury claim and recover compensation, it is for you to keep. To prove that a property is separate, you need clear and convincing information with documentation. If you don’t have that, it would be considered community property according to Texas laws.
Don’t hide your assets
If you try to hide or conceal your assets with the hope of saving them from going to your spouse, you are making a big mistake. When the court finds that one spouse has tried to conceal details, it is considered fraud, which may eventually result in a judgment against the spouse.
Meet an attorney
Just knowing the fundamentals of property division is not adequate. You need an attorney who can be your trusted guide and resource as you deal with the situation. Consult someone specializing in family law and make sure you understand every nuance concerning the divorce. You can check and choose between attorneys by looking at ratings and reviews.
