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Property Division Archives

How divorce impacts retirement accounts

Whether it is something you have owned for a long time or a short amount of time, the idea is that what is yours will remain yours. Unfortunately, when it comes to a divorce, some of this property will be deemed marital property. This means that any assets one obtains while married may be considered community property in the state of Texas. This means that upon divorce these marital assets will be divided evenly between the spouses. In some cases, a spouse's retirement assets will be up for grabs, making it important to understand how best to protect this asset in the divorce process.

Helping you navigate the property division process

What goes through a person's head when they initiate the divorce process can differ from one spouse to the next. A spouse might be focused on the end goal of getting through the process so they can begin their new single life. Another spouse might be overwhelmed and emotional, as they never dreamed that their marriage would end. And for other spouses, their focus is on what they will leave the marriage with, hoping their personal assets are protected.

What assets to consider during property division

Much like we think cancer, a car accident or a job loss will never happen to us, most married couples in Texas believe that divorce won't happen to them either. However, the reality is that this divorce is a process that some married couple will face. Thus, it is important to consider what a spouse will need to do to complete the process with their rights intact.

Marital property laws in a Texas divorce

For some spouses in Texas and elsewhere, ending the marriage might be a step in the right direction. While it is not a pleasant time, if it is obvious that a marriage cannot be saved, spouses might be able to go through the process with a positive attitude. However, even when divorcing spouses are working through the dissolution process collaboratively or amicably, this does not mean problems will not be encountered. When it comes to property division, this is considered one of the most contentious divorce issues, causing many spouses to dispute over which spouse gets what.

Navigating the property division process takes skill

There is so much to worry about while going through a divorce. Whether you are the one filing for divorce or whether it is a mutual decision, this is a very life-changing and impactful event. Sometimes the divorce process can be very challenging, time consuming and filled with disputes. When divorcing spouses in Texas and elsewhere do not see eye-to-eye on certain things, this means taking additional time to sort through issues and reach a resolution.

How is a couple-owned business treated during divorce?

What's mine is yours. That is what many spouses believe occurs when they marry. While this is very much the case for many married couples in Texas and elsewhere, some spouses decide to take measures to protect certain assets and properties in the event of a divorce. When a spouse or a couple owns and operates a business as a unit, there is a concern regarding the longevity of the business if a divorce occurs.

Property division in divorce isn't always easy to work through

Many aspects of divorce are trying. The process can try your patience, your finances and your sense of peace. For many people, knowing what to expect and being familiar with the ins and outs of divorce might help them to feel less stress and be better prepared.

Ways to work through property division disputes

Let's face it. The end of a marriage is filled with many battles and fights. When couples in Texas and elsewhere decide to dissolve their union, they are likely prepared to deal with additional arguments and drawn out disputes. This is true if the divorcing couple cannot agree on who leave the marriage with what. Property division is a difficult divorce phase to work through, and without the aid of a prenuptial or postnuptial agreement, it can take some time to arrive at a fair or comparable agreement.

How to untangle your debts during dissolution

Whether you are seeking a divorce or your spouse is, it is likely that many issues and concerns are running through your head as you begin the process of filing for dissolution. Your financial well being is likely a top concern, as it may be difficult to picture your post-divorce life without the security of a two-income household. In some cases, divorcing spouses want to ensure they are leaving the marriage with what is theirs, which includes property, assets and debts.

Assistance with the property division process

A divorce can involve a lot of emotions, desire and energy. Divorcing spouses in Texas and elsewhere are concerned about what they will leave the marriage with and if they can maintain ownership of what they believe is rightfully theirs.