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Will I have to give up any of my own possessions in my divorce?

Unless you and your partner make a voluntary agreement that says otherwise, you should be able to keep every single piece of property that belongs to you alone.  That being said, you will need to be able to prove that the property belonged to you before the marriage, was given to you as a gift during the marriage, or was inherited by you alone during the marriage.  This property is considered to be separate from your marital estate, and it will not be subject to the same laws that can be used to divide property that is shared under the marriage.

If you and your partner have considered a divorce or decided to begin the process, you should speak with an attorney who can help you do what is necessary to protect your interests throughout the legal process, regardless of which form of divorce you will be choosing.  To speak with a Colleyville divorce lawyer at Alexander & Associates about the particulars of your situation, please call our offices at (817) 756-4040 today.

What will be treated as community property during a divorce?

Any property that was accumulated by a married couple during the course of their marriage will generally be considered community property. However, any property that may be proved to belong to a single partner—for instance, property that was acquired before a marriage began—will be considered as separate property when dividing assets during a divorce.

If you are planning on pursuing a divorce from your partner, you should consult with one of the Colleyville divorce lawyers at Alexander & Associates to begin developing a legal strategy to protect your assets. To discuss the particulars of your situation with one of our divorce lawyers, please call our Colleyville offices at 817-756-4040 today.

Division of Property in a Divorce

The characterization and division of assets is often the most complicated and conflict-ridden aspect of divorce. Deciding to leave a marriage might be a straightforward decision, but identifying who is entitled to certain property such as residences, businesses, or valuable furniture can be extremely difficult. This process often requires the assistance of a divorce lawyer.

Before fairly dividing the property in a marriage, you will need to characterize it as either separate or community property.

  • Separate property is characterized as all property acquired by an individual before the marriage, or property acquired through direct inheritance or as a gift.
  • Community property refers to all assets acquired during the marriage. This includes stock, businesses, and material possessions.

It is often difficult to pinpoint whether property was acquired before or during the marriage. For this reason, it is highly advisable to seek professional legal assistance for fair characterization and division of assets.

If you are going through a divorce and have questions regarding the characterization and division of assets in your marriage, a family law attorney can help. The talented legal team at Alexander & Associates has experience in a wide variety of divorce cases. Call our Colleyville offices today at 817-756-4040.

Ex-wife of oil tycoon to receive $1 billion in divorce settlement

Oil tycoon Harold Hamm’s former wife Sue Ann Hamm will receive close to a $1 billion settlement from a divorce judgment, an article on Reuters stated November 10.

In a court ruling, the 68-year-old Continental Resources founder and CEO will shell out a total of $995.5 million to Sue Ann Hamm, 58. Harold will have to pay Sue a third of the money upfront and then monthly installments of $7 million to fulfill the bulk of the settlement. In Oklahoma each partner is entitled to an equal share of the “enhancement of wealth” during the duration of the couple’s marriage. When Harold and Sue got married in the late ’80s they did not establish a prenuptial agreement. The Hamm’s divorce is considered to be one of the biggest recorded divorce settlements.

In this difficult time, working with a experienced divorce lawyer is important to make sure you rights are advocated for and to handle legal concerns at every step throughout the process. Find out how the Colleyville lawyers of Alexander and Associates may work for you today by calling 817-756-4040.

Schwarzenegger’s three year divorce to end in December

The divorce process between Hollywood star Arnold Schwarzenegger and long-time partner Maria Shriver is scheduled to finally end this December, stated on September 17.

According to reports, the divorce process between Schwarzenegger, 67, and Shriver, 58, took time to resolve due to their huge wealth that will be distributed among them and their children. The estranged couple, including their four grownup children, agreed to divide their wealth that amounts to $400 million. Maria filed for divorce in July 2011 months after Arnold admitted to having an extramarital relationship with their housekeeper that bore a child who is now 16 years old.

When you have decided to file for divorce, it is important to enlist an experienced lawyer who can guide you through the process as smoothly as possible while advocating for your interests. Find out how the Colleyville lawyers of Alexander & Associates may legally assist you in your divorce petition today by calling our offices at 817-756-4040.