Katy Property Division In Divorce Lawyer
Texas is a community property state and this means that once a couple gets married, from that point onwards, all assets acquired by either party are classified as community property and are owned by both parties equally. When it comes to divorce proceedings, this can become a tricky and complex issue to navigate, especially in a marriage that has lasted decades.
With emotions already running high, this can end up being a point of contention that leads to a breakdown in communication. Ultimately, this means that you will end up spending more time and energy while you attempt to come to an amicable agreement. This is when it is essential to seek the help of a skilled Katy divorce asset division law firm. They will be able to use the tools of mediation, and negotiation, as well as their experience in dealing with similar cases, to advise you on the best way to divide your assets.
Here at Skillern Firm Divorce & Child Custody Lawyers, we have been dealing with divorce proceedings and family law matters for over 50 years collectively. With our stellar approach to the attorney-client relationship and our team of skilled divorce lawyers, each trained in the art of mediation and negotiation, we can help with all family law matters.
Call us today at (281) 306-5010 and speak to one of our skilled Katy, TX divorce lawyers!
Factors That Impact Marital Property Division
It is rare that spouses see eye to eye when it comes to dividing the marital estate they have built over the period of their marriage. Higher earning spouses may feel they have the right to more of the estate as they provided more funds. Spouses that gave up their careers to stay at home and look after their children might feel they deserve more due to their sacrifice. When the court looks at the division of marital assets it will consider a number of different factors, including:
- Each spouse’s individual health, age, and employability.
- The period of time that the marriage lasted.
- Each spouse’s individual ability to support themselves financially after the divorce.
- Whether or not one spouse committed acts that broke down the marriage.
Marital estate property will always be considered jointly owned unless it was acquired before the marriage by one of the parties or was the result of a gift, inheritance, or compensation for a personal injury claim. There may be further complications when couples live together in a property that is classified as separate property. If together, you spent a large amount of money while you were married on renovating or improving a separate asset property, it is important to know that you are entitled to your share of those costs. Your Katy divorce attorneys will be able to track down the costs and expenditure of the renovations and help you seek your share.
You can also file a reimbursement claim if your spouse has used shared funds in order to pay off debts or renovate a separate property that they own. Also, If one spouse has sacrificed a lot of time, effort, and money in order to help the other spouse build or continue to grow a business that is classified as separate, you may also be entitled to seek reimbursement for your time and money.
Katy Property Division FAQs
-
When both you and your spouse have built a business together, you are going to need a skilled divorce attorney to help you decide how to proceed. If it reaches litigation, they will consider how much time and money each spouse has invested and how instrumental each spouse has been. It gets even more complex when there are multiple parties involved in the business.
The courts will look at whether or not each spouse wants to continue their role in the business. If one spouse does not, the courts will usually resolve the problem via determining a compensation figure for removing them from the business. If both parties want to continue, they will have to work together on an amicable resolution that allows this. If neither party wants to continue, the business and its assets might be sold off and the costs split in what the courts find to be a fair and reasonable split.
-
If you are fortunate enough that both you and your spouse agree on how you want to divide the assets, you are going to save a lot of time and energy. In these cases, your Katy divorce lawyer will help you file a Final Decree of Divorce and present it in a manner most likely to be accepted by the courts.
-
When you get married, usually, all debt that either party incurs during the marriage is classified as community property. There are several exceptions to this rule. One exception may be that the debt is solely assigned in one party’s name for their sole purpose. Even if the debt is only in one spouse’s name, if the debt was for the purpose of both parties, it will become a shared debt in the eyes of the court. Debts for education, like student loans, usually stay sole debts assigned to one spouse.
-
When it comes to pensions and retirement funds, they are usually considered community property when either party has added to them during the marriage. This means that one spouse may be entitled to seek a percentage of those benefits and savings.
Contact a Katy Divorce Attorney at Skillern Firm Divorce & Child Custody Lawyers Today
Here at Skillern Firm Divorce & Child Custody Lawyers, we deal with legal separation, divorce proceedings, child support, spousal support, child custody, and all other family matters on a daily basis.Our Katy divorce lawyers can help you and your former spouse move through the divorce case with as little friction as possible, enabling you both to move on to a bright new future. Every Skillern Firm Divorce & Child Custody Lawyers family attorney is skilled and experienced in mediation and negotiation, as well as the complexities of Texas divorce and family law. We can help you understand how “equitable division” works in Texas and how your case is going to be viewed in court.
Call us today at (281) 306-5010 to arrange an initial consultation where one of our skilled Katy divorce lawyers can tell you what to expect and begin guiding you through the process.
-
“Matt's legal expertise and strategic approach were evident throughout the entire process. He took the time to listen to my concerns, addressing each one with patience and clarity. His ability to navigate the complexities of family law while being completely present and compassionate was truly remarkable. I felt supported every step of the way, which made a challenging time in my life much more manageable.”- Milana T.
-
“Skillern Firm is the best attorneys in Houston. He genuinely cares about his clients and his firm is diligent, hardworking and very through. I highly recommend him and do not have enough words to thank him for his extraordinary performance in getting justice for my family.”- Fauzia S.
-
“Omg!! All I can say is Thank you, I can’t express how much I appreciate you guys! YOU SAVED OUR LIVES, and I will forever be grateful! I highly recommend hiring them, they will fight for you, the outcome was a success! My son and I have our freedom thanks to them!”- Stephanie B.
-
“My hired attorney is Alex. She’s phenomenal! I recommend her at any opportunity that I can. She is everything you would want in an attorney and it was so reassuring to have her support throughout this whole process. She’s worth every penny!”- Taylor T.
-
“Not one detail missed and with the situation where my children were at risk, the extra care and attention made all the difference to get full judgement in my favor. I highly recommend Matt and his team!”- Tracy C.
-
“I had a divorce case involving a minor child, and choosing this law firm was the best decision I could have made. Attorney Amber Skillern was outstanding — professional, efficient, and incredibly supportive. Everything was handled quickly and precisely. She explained every step clearly and made a stressful situation feel manageable.”- Olena L.
-
“Skillern Firm was an outstanding law firm that guided me through my divorce petition from start to finish. Amber, my attorney, was a pleasure to work with. I truly appreciate her dedication and the effort she put into ensuring the process went as smoothly as possible.”- Luna O.