Property Division Attorney Serving Denton, Carrollton, The Colony, Lewisville, and Flower Mound
Along with child custody, visitation, and support rights, property division is a primary issue that needs resolution before a court will grant a divorce. Lewisville property division lawyer Helene Parker has substantial experience as both an advocate and a mediator in property divisions, and she can help you reach a mutually acceptable division to allow you to move on from your divorce.
Texas “Community Property” Rules
Under the Texas “community property” rule, with certain exceptions, any assets accumulated during the parties' marriage are subject to a just and right division when the parties divorce. Just and right division does not necessarily mean a 50/50 split. The division of property includes division of cash, financial accounts, real property, stock options, vehicles, retirement benefits, and any other property that comes into the marriage as a result of the labor of either spouse. Assets owned prior to the marriage are considered "separate property" and cannot be divided. All property in a Texas divorce is considered community property unless proven to be separate property.
The starting point for community property division in Texas is an equal split, although determining who gets what in order to strike that balance is sometimes a challenge, requiring a forensic accountant. Additionally, the existence of certain assets may warrant an unequal property division in Texas. These include:
- Gifts and inheritances
- Funds obtained in a settlement or judgment
- Internal tracing of separate property value
In addition, fault in the marriage (e.g., adultery, cruelty, abuse, etc. ), intrinsic or extrinsic fraud, wasting of community assets may also justify a disproportionate division of the community estate. Hence, we go back to the statement that a just and right division of the community estate is not necessarily a 50/50 split.
Amicable Property Divisions
Parties amenable to settling their property division through negotiations are able to do so without substantial court involvement. However, even if the parties are able to agree on all aspects of the property division, they still need to appear in court court to obtain judicial approval and finalization of their divorce.
When negotiating an amicable property division, it is generally best to have an experienced divorce attorney represent you during the process. There are many issues that are easily (and often) overlooked, and having a Lewisville property division attorney on your side will help ensure that any ambiguities are addressed and nothing in the final agreement is left open to misinterpretation.
Contested Property Divisions
When the parties are unable to agree on all aspects of their property division, they will need to seek court or other third-party intervention in order to reach a resolution. In many cases, mediation is preferable to a lengthy court battle, and judges do not like to divide pots and pans. If there is a dispute over property division, the courts in Denton County require the parties to attend mediation in good faith prior to resorting to litigation. At Helene Parker & Associates, L.L.C., we are experienced, thorough, and effective advocates for our clients, and we will work closely with you to ensure that you get the just and right division you deserve.
Mediation for Contested Property Divisions in Texas
Lewisville property division attorney Helene Parker is also an experienced and credentialed family law mediator. Read more about Ms. Parker's Texas property division mediation services.
Speak with a Knowledgeable Lewisville Property Division Attorney
To seek legal advice with regard to your Texas divorce or property division, or to hire Helene Parker to mediate your Texas property division dispute, contact us today. We serve clients in Denton County, such as Carrollton, The Colony, Denton, Lewisville, Flower Mound, and surrounding areas.