Family Law Attorney to Review a Settlement Agreement Texas

Call For Consultation 940-230-2386

Due north Texas Property Partition Attorneys

An experienced divorce chaser is invaluable when dealing with asset segmentation and coming to a property settlement agreement. At Hayes, Drupe, White & Vanzant, LLP, we are happy to answer all your questions and address any concerns regarding what volition happen to your assets and holding during divorce. For a consultation with an asset division lawyer from our firm, we invite you to contact us online or call us at 940-230-2386.

Definitions of Holding

A basic understanding of property definitions is a good starting bespeak when tackling a divorce property settlement. The State of Texas divides property into two different categories:

• Split Property, which can be:
  • Items acquired prior to marriage
  • Items acquired during marriage via inheritance or gifting
  • Certain funds recovered by a spouse for personal injuries

• Normally, each spouse keeps his or her own separate property in a divorce.

• Community Property refers to all other property caused during marriage or caused with marital assets. As far as holding settlements are concerned, community property is subject area to an equitable partition between spouses.

A Popular Misconception nigh Property Settlement Agreements

Some people believe wages earned by a spouse are that particular spouse's split up holding. However, this assumption is wrong. A spouse'southward wages acquired during marriage are considered community property.

An Instance of Customs Property

Let's say you lot bought a bass boat during marriage. You make all the payments on the boat until it's paid off, using money from your wage earnings. Your spouse never makes any contribution whatsoever to pay for the gunkhole. These facts do not make the bass boat your separate property. For purposes of coming to a property settlement, the boat is community property and subject to equitable division.

Okay, So Who Gets the Boat?

The fact that the gunkhole is community property (i.e., subject to equitable division) means either you or your spouse could receive the gunkhole in a property settlement agreement. However, the situation above sets out persuasive reasoning — since you lot bought and paid for the boat, y'all should receive it in a court-ordered division. Only if yous receive the boat, you will likely accept to give upward some other piece of property or fifty-fifty greenbacks so the ultimate sectionalisation of customs property is simply and equitable. Equally spouses, you can concur on these matters, or the court tin can force a division upon yous if you lot cannot concur. It is possible that the court could club the boat to be sold and have the proceeds divided.

The above is just one example of many issues addressed during property settlement. At Hayes, Berry, White & Vanzant, LLP, our asset division attorneys utilise a wealth of knowledge and skills to determine how to dissever assets, whether your issues are complicated or straightforward. We volition review your finances, answer your questions, explain how the Texas Family Code relates to your property-division concerns and advise the all-time grade of activity.

Contact our attorneys for assistance with property settlement

If you need assist with a belongings settlement agreement, we encourage you to contact our law house online or give united states a phone call at 940-230-2386 to speak to one of our nugget division lawyers today. They will exist happy to assistance y'all in any fashion they can. Nosotros also offer family police force services for matters such equally spousal support, child custody and collaborative police force.

• "Absolute best in the business hands down! Don White is absolutely amazing wouldn't ever consider using anyone else, nosotros highly recommend this house!" - Alyssa McKissaack

• "The best! Richard has been my family'southward attorney for 35 years. Integrity best describes Richard Hayes." - John Grafa

• "From my first meeting with Mr. Berry and his staff, I was immediately relieved. The bankruptcy process was explained to me simply and objectively and I was made to feel at ease through the entire ordeal. I was especially impressed by his helpful and knowledgeable assistant, Jackie Cox. I would promise to exist able to retain Byron Berry for any future needs." - Anonymous

• "Great Firm with Great Lawyers! Information technology was a keen pleasure working with William and his team." - Collin R. Geis

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Source: https://www.hbwvlaw.com/areas-of-practice/family-law/divorce/property-settlement-agreement/

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