Ensuring A Fair Division Of Property And Assets In A Texas Divorce
In a divorce, the fair and equitable division of marital assets is imperative. Dividing up the property and assets might seem easy, but if the assets and properties are substantial, determining precisely who owns what and what it’s all worth can be extraordinarily difficult.
When Williamson Law Firm represents you, an experienced divorce attorney will insist on the full disclosure, accurate identification and precise valuation of all marital assets. We routinely fight for justice in difficult, contested divorce cases in Dallas and throughout North Texas.
We Handle All Assets, Properties And Businesses
Our attorneys handle cases involving any and all marital properties and assets, including:
- Bank accounts, cash, stocks and bonds
- Retirement accounts, IRAs and 401(k)s
- Pensions, SSDI benefits and lawsuit settlements
- Vehicles, jewelry, works of art and household furnishings
- Future earnings, assets held in trust, real estate holdings and businesses
If a spouse has secretly moved, hidden, encumbered or sold marital property or assets without the other partner’s knowledge or consent, our experienced Dallas divorce law firm can work with experts during the divorce process to find those assets and determine their value.
How Is A Business Divided In A Texas Divorce?
First, the business must be accurately identified as a marital asset or as separate personal property. Marital property is the property that spouses acquire during the course of the marriage. Separate property is the property owned by either partner prior to the marriage or property acquired exclusively by one partner as a gift or as an inheritance.
If the business has been identified as marital property, the next step is determining its value. Frequently in divorce proceedings, spouses will disagree regarding the value of a family-owned business. Several methods are used to evaluate a closely held business, including the “market” approach, the “income” approach and the “book value” method.
What the law requires is a “just and fair” division of the business. If a business or your professional practice is on the list of marital assets to divide, one of our asset division lawyers can help you determine the value of the business and the best way to handle its division.
How Is Real Estate Divided In A Texas Divorce?
Many couples also jointly own real estate. Many couples own their home, vacation homes, cabins, farm acreage, commercial properties and investment properties. The fair and equitable division of real estate can often be the most complicated matter in a Texas divorce.
Determining the precise value of a real estate can be tricky. Fluctuating real estate values make it genuinely difficult to decide on a fair, exact dollar amount. Once a value amount is set, the next issue is deciding if a property will be sold or will be retained by one spouse in exchange for some other consideration. Market factors, location and the amount of any debt owed on a property are also factors that must be considered.
How Can Williamson Law Firm Help With Property Division Matters?
Williamson Law Firm makes certain that our divorce clients get to keep what is rightly and legally theirs. We’ve been representing and protecting North Texas clients in divorce cases for more than 25 years. We are recognized by our colleagues — as well as by our clients — as one of the top Texas family law firms. We provide every client with candid and sound advice, an aggressive legal strategy and a commitment to fight for the best possible resolution of your divorce.
Get Our Skill And Experience On Your Side
Dividing properties and assets as part of a divorce can be a complex task, so you must make sure that you choose an attorney with both skill and experience. Williamson Law Firm has abundant legal skills and experience, and we are ready to go to work on your behalf. Schedule a consultation by calling 469-385-3305 or send our law firm an email.