Colleyville Division of Assets Attorneys
One of the most disputed areas in a divorce is the division of assets between spouses. When a couple is able to agree on what property belongs to each person, there is no need for legal intervention. However, most of the time there are significant disagreements about property division, which require intervention by the court in order to sort out ownership of assets following the divorce.
If you and your spouse are getting a divorce and are having trouble agreeing on division of assets, our Colleyville division of assets attorneys of Alexander & Associates will do their utmost to help you protect your interests. To speak with a qualified divorce attorney dedicated to supporting you, contact us today at 817-756-4040.
Types of Property
In the state of Texas, property in a divorce is categorized as either community property or property owned by just one of the spouses. The two categories of property are:
- Community Property – Community property is divided according to “just and right” divorce laws, which take a variety of factors into consideration such as age, health, relative need, earning capacity, and contribution to raising of children. Community property includes any assets accumulated by the couple during the marriage and any property paid for with shared assets.
- Property of a Single Spouse – This property is not divided, but rather is given solely to the single spouse who is determined to be the sole owner. This includes things, such as inheritance meant solely for that person, gifts, pension received before the marriage, and things bought with assets separate from the marriage.
Determining which property qualifies as community property and which property belongs to one spouse can be difficult. Consulting an attorney can help you better understand asset division in Texas and your rights to property from your marriage.
Protecting your interests in a divorce is important. If you and your spouse are having problems dividing assets or you are interested in getting more information about what assets you may be entitled to, contact a Colleyville separation of assets attorney of Alexander & Associates today to speak with a knowledgeable and experienced attorney at 817-756-4040.