Dallas Property Division Lawyer

Protecting Your Finances During a Divorce

During divorce proceedings, property which was acquired during your marriage will be inspected and divided up according to a formula that is outlined in law. This can unfortunately be the source of much discord between spouses, particularly if the court awards the property unequally. When children are involved, property division is much more complicated.

At the Mathur Law Offices, P.C., we understand how important it is to receive your deserved property. You shouldn't have to fight for your best interests on your own. A Dallas divorce lawyer from our firm can be the asset you need in your corner and will defend you with compassion and skill.

Community Property vs. Separate Property

Property is divided into two main categories regarding divorce property settlement.

• Community property is defined as property that was acquired during the course of the marriage. Even if the asset is in only one person's name, it is still considered community property at the time of the divorce if it was acquired during the marriage.
• Separate property is property that was owned before the marriage took place, property in the form of an inheritance or gift, compensation recovered by the marriage partner from a case, or anything which is exchanged for property which falls under these headings.

Salary, cars, retirement savings, and more are all subject to community property laws and if you do not have an attorney to protect your assets, you may lose half of your ownership. Ensure that you notify your lawyer early on in the divorce process if you own separate property.

How is property divided in Texas?

Texas is a community property state, which means that any income and property acquired during the marriage is jointly owned by both spouses. Thus, in the event of a divorce, the property must be divided equally according to the discretion of the court. Community property typically includes real property, such as the home, and intangible property, like income and benefits.

The court will consider the unique circumstances of each marriage in order to make a fair property division verdict.

Unequal divisions may be a result of the following:

• A disparity in the spouses earning capacities
• Custody of any children and their needs
• The needs of each spouse
• Differences in education

If child-raising responsibilities fall more heavily on one spouse, the court is likely to award that spouse with a greater portion of the property.

Discuss Your Property Settlement Concerns

Before your property gets divided by the court, it is valuable to obtain support from an attorney skilled in divorce law. The last thing you want is to miss out on valuable assets earned during your marriage and a Dallas divorce attorney from the Mathur Law Offices, P.C. can ensure that this doesn't occur.

Contact our Dallas divorce lawyers today and secure the best for your future.